Tag: PSX

The Pakistan Stock Exchange (PSX) achieved an all-time high as a bull run allowed the KSE-100, the benchmark index of the PSX, to reach an intraday high of 119,421.81 points. The index peaked at 9:48 AM after which profit taking took hold of the market causing the market to close at a respectable 118,769.77 points.

For reference, the KSE-100 closed at 117,974 points on Wednesday after which the index recorded a growth of 0.67 percent during trading hours on Thursday allowing for a 795.75 point rise. The market displayed a slowdown around 12:30 PM as the KSE-100 hit its intraday trading low of 118,444.03 points before recording a swift recovery to its current position.

Most indexes remained in the green with the All-share index (ALLSHR) experiencing a 0.82 percent growth rate which translates into a 600.67 point gain for the index. Unlike the KSE-100, which tracks the performance of the 100 largest and most liquid companies, the ALLSHR index records the performance of all publicly listed companies on the PSX.

Data from the PSX reveals that ALLSHR index has shot up by a staggering 68.5 percent over just one year with the KSE-100 recording an even greater rise of 80.69 percent over a one year period – a growth rate which many would categorize as nothing short of meteoric. Moreover, the Year-to-Date (YTD) change for ALLSHR and KSE-100 index were recorded improvements, sitting at 2.02 percent and 3.16 percent respectively.

A vast array of companies witnessed a rise in share prices with Sally Textile Mills Limited (STML) and Jubillee Spinning & Weaving Mills Ltd (JUBS) winning big – to the tune of growth rates that sat at 11.11 percent (STML) and 10.87 percent (JUBS).

However, not every publicly listed stock witnessed an improvement as many companies witnessed sharp declines. Of these declining companies, the one that fared the worst during intra-day trading was First Capital Securities Corporation (FCSC) which posted a 16.85 percent decline in its position.

Trading volume of regular stocks stood at an impressive 667,875,803 shares translating into a total value of over 38.5 billion rupees. As per credible reports, the bull run was fueled by strong domestic ‘institutional buying’ along with a possible solution of Pakistan’s power sector’s circular debt in the works.

Moreover, independent investors also believe that the disbursement of over $1 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) is on the horizon. Given the aforementioned reasons, investors have parked their funds into stocks as they foresee great returns in the near future.

The Pakistan Stock Exchange (PSX) performed well on Monday, with all index indicators remaining in the green. The PSX’s benchmark index, the KSE-100, increased 1,055 points by the end of intraday trading, closing at 111,377 points.

KSE-100 hit an intraday low of 109,948 points. However, the market witnessed a significant shift as bullish sentiments took charge. According to data from the PSX, KSE-100 experienced a noticeable amount of variation, with the intraday high sitting at a respectable 111,622 points.

The PSX peaked in early January when the KSE-100 crossed 117,000 points. Analysts have argued that Islamabad’s crusade against non-filers and tax evaders resulted in a recent slump in the PSX. Their grounds for making these claims are that Islamabad’s policy measures restricted those not complying with tax laws from partaking in trading activities.

However, with the market seemingly recovering, investors are less likely to complain about Islamabad’s crackdown on non-compliers.

The JS Momentum Factor Index (JSMFI) outperformed every other index as it closed the day 3.22 percent higher than it had been listed for. This increase translates to a 1018-point rise in the index. As per the PSX, the JSMFI tracks the performance of listed stocks with the best momentum. This could help explain the index’s strong performance during trading hours.

Conversely, the JS Global Banking Sector Tradable Index (JSGBKTI) displayed the lowest growth rate among indexes as it grew by a measly 0.06 percent. The JSGBKTI aims to measure the total returns on the Banking Sector Tradable Index. The index closed a little under 17 points higher than the start of intraday trading.

Following the positive trend, the All Share Index posted a healthy 620-point rise, which translates to approximately a one percent increase in its value.

The company that benefitted the most during trading hours was Attock Refinery Limited. Data reveals that the share value of the company surged by 10 percent. Bank of Punjab was a distant second as its shares rose 6.97 percent in value. The only other company to record a six-plus percent increase in share value was Honda Atlas Cars Limited, as its share value rose by 6.41 percent.

Honda’s strong performance on the exchange comes despite being the centre of negative attention in a recent ‘scandalous’ case. Allegedly, corrupt practices were used to grant the auto manufacturer the contract to produce over 1000 cars for the nation’s tax watchdog, the Federal Board of Revenue (FBR).

However, trading comes with significant financial risks. This was demonstrated by Pak-Gulf Leasing Company Limited’s 9.38 percent nosedive during intraday trading. Furthermore, Punjab Oil Mills Limited declined significantly as it lost approximately five percent of its share value during trading hours.

The Pakistan Stock Exchange (PSX) on Thursday continued to fall on the second consecutive day as KSE-100 witnessed a 1,992-point drop during intraday trading.

While Oil and Gas Tradable Sector Index (OGTI) was hit the hardest by the bearish trend, recording a fall by 3.82 percent after losing 1,119 points at closing time, such lows are common at the end of the year as investors resort to profit taking.

The director of research from AKD securities attributed the fall in the PSX due to it being the last week of rollovers of future contracts and also partly due to investors realigning their portfolios.

At the end of the year, investors often sell high performing assets. This is because high performing assets often grow to form a large part of an investor’s portfolio and are sold off for diversification purposes, usually causing a sharp decline. 

Aside from the general trends, some global developments have also created an environment that might not be conducive to generate returns for investors. One such development is the fall in global crude oil prices.

Financial experts are speculating that the substantial hit to the OGTI was probably due to the downward trend in global oil prices. A drop in international oil prices is usually accompanied by the government revising oil prices on a national level as well. 

This could cause a fall in revenue for oil companies and investors were quick to pick up on this. As many as 12 out of the 13 publicly traded companies listed under oil and gas marketing and exploration suffered as their position declined at the end of intraday trading. Hascol was the only oil company in the green, resulting in an 8.24 percent increase in share value.

Another pressing issue causing the decline in the PSX is the air force’s airstrike on Tehreek-e-Taliban Pakistan (TTP) hideouts in Afghanistan. The fear of retaliation from TTP is enough to shake investor confidence given Pakistan’s history of terror attacks.

However, some industries remained in the green despite the financial carnage witnessed by stock brokers. Jute and leasing companies both posted healthy gains as the market closed. Crescent Jute and Pak Gulf Leasing witnessed a 14 percent and nine percent rise in share value, respectively.

As the year comes to a close, the question on many financial experts’ minds is if the overall bullish trends from this year will carry into the next year. Only time will tell.

The Pakistan Stock Exchange (PSX) experienced a noticeable decline, as the benchmark index KSE-100 dropped 1,509 points in intra-day trading. The slump follows the second-largest single-day pointwise rise in the KSE-100.

Bearish sentiments resulted in profit-taking, causing 288 of the 456 companies being traded publicly to close at a lower value than the previous day. Automotor companies were some of these companies that suffered a decline. Notably, Hinopak Motor approximately 6.9 per cent of its share value, while Honda Atlas Cars and Indus Motor Company (manufacturer of Toyota vehicles) lost 5.06 per cent and 1.36 per cent of their value, respectively.

Despite the financial carnage causing such a large number of companies to decline on the PSX, 129 companies actually managed to advance in share value. Notable companies that advanced in intraday trading include Fauji Foods Ltd and Attock Petroleum, which managed to close 1.62 per cent and 3.45 per cent higher, respectively.

The All Share Index (ALLSHR) dropped 1.36 per cent by the end of the trading day, a loss of approximately 962 points. Despite the unusually high variation in share prices recently, foreign ownership of shares has risen by 0.30 per cent since the beginning of the month.

The fall in the PSX could be attributed to the country’s political landscape. As it stands, the Pakistan Tehreek-e-Insaaf (PTI) has met with Islamabad in the hopes of reaching an amicable solution. If both parties reach an agreement, economic progress can continue undeterred as investors will not fear political tensions causing them financial losses.

Despite everything, the talks have moved along sluggishly, with no concrete solution emerging in the near future. According to Dawn News, it might take a considerable amount of time before the political tensions are diffused with dialogue. This spells bad news for investors.

It doesn’t seem as if the talks will progress much further either, as key members of PTI’s leadership were missing from the negotiations, and PTI’s demands for Imran Khan’s release seemed unrealistic. Nevertheless, if peace can be arbitrated between Islamabad and PTI through negotiations, the PSX is expected to see persisting bullish trends as investor confidence is restored.

Publicly, however, the listed companies will have to find a way to weather the storm and hope they can preserve their share value until a greater level of political stability returns to Pakistan. This will be a significant challenge for companies such as Mari Petroleum, which is experiencing a decline in the PSX.

Traders on the floor of the Pakistan Stock Exchange (PSX) rode on a wave of joy today as they witnessed the market break yet another record.

During day trading, the KSE-100 index crossed the 90,000 mark for the first time ever, and it stayed that way until the trading day was about to close.

At the end of the trading day, however, KSE-100, the benchmark of the PSX that includes the top 100 companies, settled at a respectable 89,993.96 points. This is a huge leap of 1,047.98 points, which translates into a 1.16 per cent increase from when the market opened.

The ALLSHR (All Share) Index, which tracks the performance of all companies listed on the PSX, did really well, too. ALLSHR gained 495.83 points throughout the day, which is 0.86 per cent from the time it opened, to close at an impressive 57,461.53 points.

While all indexes were in the green, the KSE-30 index, which focuses on the top 30 companies listed on the exchange, performed the best by closing at a remarkable 28,395.15 points. KSE-30 had gone up by 352.45 points at closing time, which is a massive 1.24 per cent increase in the index value.

The driving factor behind this bullish trend is a rise in investor confidence. Investors in the market are making large gains due to the hot streak PSX has been for a while now.

This enthusiasm has attracted foreign investors, as the percentage of all shares held by foreign investors jumped from 14.49 per cent at the start of the month to 15.22 per cent currently.

It’s a great time for the market and a great opportunity for those looking to invest in Pakistan’s financial future. Can the bullish trend continue? It certainly is possible, but only time will tell.

Pakistan Stock Exchange (PSX) opened Tuesday on a positive note and managed stay nearly 600 points up throughout the trading session.

The benchmark KSE-100 index was seen at its highest level during the day session when it surged to record peak of 86,846.03 points at 9:59 AM after rising by 788 points from its last close of 86,057. This occurred when the volume stood at 36,842,210.

Interestingly, the lowest point PSX witnessed was also recorded at the opening hour, around 9:30 AM, when the stock market was seen at its lowest point for day, reaching 86,294.69.

Still, throughout the day, the KSE-100 index managed to stay in in the positive territory and ended the second trading session of the week in green with a new record high of 86,466.57.

The total volume of the KSE-100 index was 415.551 million shares.

The PSX closed with a gain of 409 points or 0.48 per cent.

Market summary	Details
Overall performance	63 companies closed up, 34 closed down, 3 were unchanged.
Top gainers	KEL (+13.41%), ATRL (+8.28%), SYS (+7.44%), CHCC (+6.03%), MEHT (+5.19%)
Top decliners	PAKT (-6.18%), PGLC (-5.41%), PIBTL (-4.40%), EPCL (-2.95%), YOUW (-2.42%)
Index-point contributors (Up)	SYS (+174.04 points), LUCK (+62.46 points), HUBC (+51.71 points), ATRL (+48.33 points), KEL (+44.48 points)
Index-point contributors (Down)	FFC (-108.64 points), PAKT (-29.07 points), PSO (-21.78 points), BAHL (-20.80 points), EFERT (-17.23 points)

The Pakistan Stock Exchange (PSX) had a rough start on Friday, with the KSE-100 Index dropping by 0.79 per cent in early trading.

By the end of the day, the index managed to recover marginally and closing almost flat at 85,483.40 points. The gain PSX witnessed was just 30.18 points, or 0.04 per cent.

During trading hours, the index swung up and down within a range of 975 points. KSE-100 reached a high of 85,750 points and dipped to a low of 84,774 points. A total of 295 million shares were traded within the PSX.

Top gainers	Change (%)	Top decliners	Change (%)
ATLH	+10.00%	KOSM	-11.84%
PTC	+8.13%	HUBC	-5.17%
PIOC	+7.50%	YOUW	-4.75%
PSO	+5.16%	ABL	-3.39%
ATRL	+3.88%	LUCK	-3.28%

Out of the 100 listed companies, 46 witnessed gains, 50 ended red, and 4 stayed same. The top gainers of Friday were companies including ATLH (+10.00 per cent), PTC (+8.13 per cent), PIOC (+7.50 per cent), PSO (+5.16 per cent), and ATRL (+3.88 per cent).

On the losing side, the biggest decliners were KOSM (-11.84 per cent), HUBC (-5.17 per cent), YOUW (-4.75 per cent), ABL (-3.39 per cent), and LUCK (-3.28 per cent).

In terms of influencing overall index, PSO had the biggest positive impact, adding 68.72 points to the index, followed by FFC, EFERT, PIOC, and lastly UBL.

Secondly, HUBC dragged the index down the most, bringing it down by 181.94 points, with LUCK, HBL, TRG, and SRVI also contributing to the drop.

Overall, 560.74 million shares were traded across the stock market, up from 503.75 million on Thursday The total value of shares traded was recoeded Rs26.12 billion, which was Rs1.79 billion less than the last session.