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Arif Habib Limited

Pakistan equity market to show robust activity in 2022

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Pakistan

KARACHI: The Pakistan bourse is likely to attract huge investments, as the KSE-100 is expected to reach 55,000 points by December 2022, a research report by Arif Habib Limited (AHL) showed. “A total of eight equity IPO [initial public offerings] transactions were witnessed in 2021 aided by a stark turnaround in the economy post Covid-19. … Read more

PSX moves both ways; KSE-100 Index gains 1.32 points

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PSX

KARACHI: The Pakistan equity market moved both ways during the day on account of pressure on economic numbers along with the political disturbance, dealers said on Monday. An analyst at Topline Securities said the investors’ interest was low during the day, amid concerns over further hike in the policy rate in the upcoming monetary policy … Read more

Bulls return to PSX as KSE-100 Index gains 178.41 points

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PSX update today stock

KARACHI: The Pakistan bourse staged a mild recovery on Friday, as the investors opted for bottom-fishing in the oversold market, dealers said. Ahsan Mehanti at Arif Habib Limited said that the stocks showed sharp recovery, amid higher trades in oversold stocks and short coverings, as investors’ weighed robust textile exports and remittances in October 2021. … Read more

Power generation up 10.3% during October

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Power generation

KARACHI: Power generation went up 10.3 per cent on a year-on-year basis to reach 15,183MW during October 2021, compared with 13,767MW in October 2020, a research report by Arif Habib Limited showed. The rise in generation was owed to higher generation from nuclear, furnace oil (FO) and wind. Major contributors to power generation during October … Read more

Bulls rule PSX; index crosses 48,000 psychological barrier

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Stocks remain range-bound over political turmoil

KARACHI: The Pakistan equity market started the first day of the week with an extensive bull run where the index broke the 48,000 psychological barrier, as lower current account deficit and certainty over the Afghan issue triggered buying, dealers said on Monday. Ahsan Mehanti at Arif Habib Corp said the stocks closed bullish, amid bull-run … Read more

Pakistan stocks likely to remain positive on expectation of strong results

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Pakistan stocks

KARACHI: Pakistan stocks witnessed a lacklustre and range-bound week ended August 13, 2021, while analysts anticipate the market to remain positive next week, given the expectation of strong results in the ongoing season. “Meanwhile, concerns over the Covid-19 fourth wave may keep the sentiment skittish. Further, the prevailing tensions in Afghanistan with the continuing withdrawal … Read more

AHL posts highest-ever profit of Rs2.08 billion

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KARACHI: The Arif Habib Limited (AHL) earned the highest-ever net profit of Rs2.084 billion for the year ended June 30, 2021, a bourse filing said on Monday. The company also declared a final cash dividend of Rs10/share and the bonus of 10 per cent, i.e., 10 shares for every 100 shares held for 2021, it … Read more

Pakistan stocks breach psychological barrier of 48,000 points on brisk buying

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Pakistan Stock Exchange Goes Bullish On First Day Of Week

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bull run, as oil prices fell in the international market and the government raised Rs146 billion through the Pakistan Investment Bonds (PIBs) auction where yield remained unchanged, dealers said on Thursday.

An analyst at Arif Habib Limited said the market surged 800 points during the session on Thursday. “Conversion of fixed income funds to equities from institutional investors played a vital role in the day’s index uptick.”

Brisk buying was observed in the main board scrips, including Habib Bank Limited (HBL), United Bank Limited (UBL), Pakistan State Oil (PSO), Sui Northern Gas Pipelines Limited (SNGPL), Oil and Gas Development Company (OGDC), Engro and Hub Power Company (Hubco); however, other sectors and scrips took cue, as well, resulting in across-the-board buying activity.

The Pakistan Stock exchange KSE-100 shares index gained 1.7 per cent, or 805.25 points, to close at 48,053.17 points. The KSE-30 shares index gained 2.07 per cent, or 392.85 points, to close at 19,365.90 points.

As many as 429 scrips were active, of which 312 advanced, 96 declined and 21 remained unchanged. The ready market volumes stood at 475.23 million shares, compared with the turnover of 412.2 million shares in the last trading session.

Muhammad Mubashir at JS Global Capital said that the KSE-100 finally breached the psychological barrier of 48,000 points. “Engro Fertilizer remained in the limelight today on market word that it had increased DAP prices by Rs200/bag to pass on the rise in the international prices.”

“The technology and auto sectors outperformed today as the new auto policy arose, declaring tax relief and reduction in car prices,” an analyst at Pearl Securities said.

Going forward, analysts recommend investors to avail of any downside as an opportunity to buy in cement, steel, and textile sectors.

The companies, which reflected the highest gains included Nestle Pakistan, up Rs170 to close at Rs5,990/share; and Gatron Industries, up Rs35.63 to close at Rs510.78/share.

The companies that reflected the most losses included Wyeth Pakistan, down Rs45.22 to close at Rs2,035.17/share; and Sapphire Fiber, down Rs44 to end at Rs796/share.

The highest volumes were witnessed in TPL Corp with a turnover of 30.16 million shares. The scrip gained Rs1.28 to close at Rs18.38/share; followed by WorldCall Telecom with a turnover of 28.43 million shares. It gained one paisa to close at Rs3.92/share. TRG Pakistan was the third with a turnover of 27.39 million shares. It gained Rs11.06 to finish at Rs176.25.

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SNGPL’s profits rise 69% in first quarter of FY21

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SNGPL’s profit

KARACHI: The Sui Northern Gas Pipelines Limited (SNGPL’s) posted a net profit of Rs3.18 billion for the quarter ended September 30, 2020, up 69.14 per cent, compared with the profit of Rs1.88 million during the same period of the last year, a bourse filing said on Monday. The gas utility announced financial results for FY20 … Read more

Double-digit headline inflation expected for June

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inflation

KARACHI: The headline inflation based on the Consumer Price Index (CPI) may remain around 10 per cent Year-on-Year (YoY) in June 2021, analysts said on Tuesday. The analysts at Insight Research estimated the CPI for June 2021 to arrive at 10.2 per cent against 10.8 per cent reported in May 2021. Similarly, urban CPI is … Read more

Pakistan stocks plunge over 600 points on selling pressure

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PSX

KARACHI: Massive selling pressure was witnessed at the Pakistan Stock Exchange on Monday where the market remained in the red zone throughout the day. An analyst at Pearl Securities said the bloodbath was seen due to the likely mutual funds redemption, amid year-end phenomenon. “Furthermore, a mix of negative flows also dominates the market sentiments, … Read more

Pakistan Stock Exchange remains volatile on profit-booking

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PSX

KARACHI: The Pakistan Stock Exchange (PSX) started the day in the green zone and moved both ways throughout the day where volatility was witnessed in most of the stocks, dealers said on Tuesday.

An analyst at Arif Habib Limited said the market remained range-bound on account of profit-booking, particularly in refinery, steel, cement and E&P sectors.

“[The] technology sector failed to bounce back in the past sessions and similar downtrend was witnessed today. E&P sector saw prominence of Oil and Gas Development Company (OGDC) on the back of anticipated dividend payout, whereas the fertiliser sector remained under pressure after less-than-anticipated takeaways from the recently announced budget.”

Pakistan Stock Exchange (PSX) KSE-100 shares index sheds 0.19 per cent, or 93.52 points, to close at 48,632.56 points. The KSE-30 shares index sheds 0.11 per cent, or 22.41 points, to close at 19,625.02 points.

As many as 403 scrips were active, of which 143 advanced, 237 declined and 23 remained unchanged. The ready market volumes stood at 1.22 billion shares, compared with the turnover of 1.12 billion shares in the last trading session.

Ahsan Mehanti at Arif Habib Corp said the stocks closed bearish in the post-budget consolidation session, as investors weighed $27.488 billion trade deficit and concerns over the likely surge in local petroleum prices.

“[The] oil and cement stocks outperformed on surging global crude oil prices and Rs560 billion record development spending commitments in the Punjab Budget FY22. However, weak global equities and investors’ concerns over [the] falling rupee played a catalytic role in the bearish close.”

Maaz Mulla at JS Global Capital said the KSE-100 index stayed sideways, making a low and high of -215 and +115 points, respectively.

“K-Electric led the volume board, as media chatter suggested that the National Transmission and Dispatch Company (NTDC) recently severed additional supply of electricity to Karachi Electric (KE) due to non-payment.”

The Southern Region cement manufacturers have announced to increase prices by Rs20/bag and consequently, the cement sector gained during the day.

From the refinery sector, Attock Refinery Limited (ATRL), down 5.1 per cent, National Refinery Limited (NRL), down 3.6 per cent and Pakistan Refinery Limited (PRL), down 2.7 per cent, lost value to close in the red zone.

Meanwhile, the government allowed the resumption of business activities in the province for six days a week, amid declining Covid cases.

“Going forward, we expect the market to remain bullish on the back of economic and political stability,” an analyst at Pearl Securities said.

The companies that reflected the highest gains included Wyeth Pakistan, up Rs39.97 to close at Rs2,196.81/share; and Indus Motor Company, up Rs27.2 to close at Rs1,346.23/share.

The companies, which reflected the most losses included Nestle Pakistan, down Rs68.99 to close at Rs5,730.01/share; and Sanofi Aventis, down Rs23 to end at Rs955/share.

Highest volumes were witnessed in K-Electric with a turnover of 312.97 million shares. The scrip gained 45 paisas to close at Rs4.69 share; followed by WorldCall Telecom with a turnover of 147.62 million shares, as it sheds 26 paisas to close at Rs3.97/share. Byco Petroleum was the third with a turnover of 129.35 million shares, as it gained 19 paisas to finish at Rs13.02.

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