KARACHI: The figures disclosed by PBS showing easing of inflation have unleashed the bulls that raged all over the bourse on the first trading day of the week at Karachi Stock Exchange.
KSE-100 Index closed in the green at 39,296.30 gaining 1,313 points here today as the easing inflation and recovery in global markets had augmented the investors’ confidence. It is pertinent that due to threat of coronavirus epidemic the market remained in the red last week.
Relevant pieces published earlier:
PSX: Bears continue to growl all over the bourse
KARACHI: As Punjab Cabinet rejected the application of former PM Nawaz Sharif regarding the extension of bail on medical grounds, bears kept on bleeding the bourse red on the second trading day of the week at Karachi Stock Exchange (KSE) forcing it to shed 285.28 points to close at 38,854.45 in addition to 1100 points it had lost on Monday (24th of February, 2020).
While cement and steel sectors gained, selling pressure was faced by exploration and production companies, banks and oil marketing firms. Though PPL had announced its financial results they did not motivate investors and the selling of stock continued.
Volume was led by the cement sector with trading in 17.7 million shares. Second were banks (17.6 million) and technology firms (12.4 million) grabbed the third position.
Unity Foods that traded in 10 million shares topped the chart. Second and third places were grabbed by The Bank of Punjab (9.2 million) and Hascol Petroleum (8.6 million). Major movers of the day were UBL (-3%), Pakistan Petroleum (-2.9%), Engro (-2.2%), HBL (-1.6%), MCB Bank (-2%) and Oil and Gas Development Company (-1.9%). 128 million shares were traded.
PPL (-2.9%) from the exploration and production sector declared its 1HFY20 earnings, where the company posted earnings per share of Rs8.98 with no cash payout. Hubco (-1.3%) declared its 1HFY20 result, posting earnings per share of Rs2.34.
Buying interest was mainly in the cement sector where DG Khan Cement (+1.2%), Maple Leaf Cement (+2.1%), Pioneer Cement (+2%), Cherat Cement (+2.4%) and Lucky Cement (+0.3%) were the major movers.
124.3 million shares worth Rs.6 billion changed hands. Shares of 336 entities changed hands, 159 stocks closed higher, 162 plummeted while 15 remained stagnant.
PSX: Coronavirus epidemic lets bear bleed the bourse
KARACHI: The fear of spreading coronavirus, that had forced investors sell the equity off globally, had allowed the bears color the bourse red.
The KSE-100 Index shed 1100 points to close at 39,143.73. FATF’s decision to keep Pakistan in the Grey List was another reason that kept the bulls away on the first trading day of the week.
The virus and FATF tragedy was supplemented by the decreasing price of oil was that shed 3.5% in global crude prices during trading hours.
Hascol Petroleum, Unity Foods, K-Electric, The Bank of Punjab and Maple Leaf Cement, contributed to the volumes (to the extent of 35%).
Nestle (+37 points), Millat Tractors (+4 points), Dolmen City REIT (+1 point) and EFU General Insurance (+1 point) contributed positively while PPL (-86 points), HBL (-78 points), Hubco (-67 points), UBL (-67 points) and ODGC (-60 points) contributed negatively.
Today stocks of 345 companies changed hands. Out of those stocks of 44 entities augmented, 285 plummeted while 16 remained stagnant. 144 million shares worth Rs. 5.5 billion were traded today.
PSX: 3 successive bearish sessions at the bourse
23rd of January, 2020
KARACHI: For three successive days the Benchmark KSE-100 Index closed in the red due to augmenting political noise in the country.
OGDC directed the performance of the bourse that opened positive as the index rose to intra day 48 points before plummeting.
But the Karachi Stock Exchange started breathing encore when Privatization Commission clarified that appointment of financial advisers for the divestment of up to 7pc shares in OGDC was in process and that there was no consideration to offer its shares.
It is pertinent to mention here that investors opted for cement stock hoping recovery in prices as a result Lucky Cement closed at its upper lock. Sectors-wise those who performed positively included cement, fertilizers and banks. Companies that contributed towards plummeting the Index included OGDC, Pakistan Tobacco, Dawood Hercules, PSO, Pakistan Oilfields, Lucky Cement, Fauji Fertilizer, Engro Corporation. 178 m shares worth 60 million US dollars changed hands.
PSX: Bears seen growling all over the bourse!
21st of January, 2020
KARACHI: News about the three-day (21st till 23rd of January, 2020) FATF meeting in Beijing has created insecurity amongst investors, encouraging bears enter the bourse on the first trading day of the week.
KSE-100 index closed at 42,747.62 shedding 420.14 points. Institutions, opted to take profit on signs of early called Financial Action Task Force (FATF) working group session in Beijing.
Increase in gas prices by Economic Coordination Committee (ECC) kept investors cautious. Its decision to reduce Gas Infrastructure Development Cess with the aim of cutting down urea price per bag received mixed response from the fertilizer stocks where Engro Corp and Fertilizer closed lower, while Fauji Fertilizer and Bin Qasim showed positive price performance.
The volume at the Pakistan Stock Exchange was led by Engro Fertilizers, TRG Pakistan, Bank of Punjab, Wordlcall Telecom and Summit Bank, which formed 33pc of the aggregate. Sectors contributing to the negative performance included banks, fertilizers, cement and investment banks.
Those who dragged the index below included Engro Corporation, decreasing by Engro Fertilizers, United Bank Limited, Habib Bank Limited, Dawood Hercules, Pakistan Petroleum Limited and Lucky Cement Limited.
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