·        The market observed a negative session today as Pak Rupee depreciated against USD. Investor’s participation stayed lackluster over concerns of resumption of IMF program. Volumes remained dry in the main board whereas decent volumes were witnessed in the 3rd tier stocks.… Continue

The outgoing week witnessed lackluster activity in the KSE-100 index primarily due to prolonged uncertainty on the resumption of IMF program, high twin deficits, runaway inflation and rising political noise. Despite tough measures being taken by the govt. in the form of reversal of energy subsidies and major taxation changes in the budget, several steps were still needed to be taken to convince the IMF and get the program back on track.… Continue

·        The market traded in the green zone as the fertilizer sector remained in the limelight due to price increase. Investors hunted for value buying throughout the day. CPI for the month of Jun’22 clocked in at 21.32% YoY (6.43% MoM).… Continue

Index slipped 5,815 pts in FY22

Pak stocks suffered a rout during FY22 amid deep uncertainty to close at 41,541 points, down by 12.28% / 5,815 points YoY, which took the USD based return to a negative 32.5%. This was the worst performing year after FY19 (-19% return).The… Continue

· PSX witnessed a positive session today as PKR continued to extend gains against USD and cut-off yields on 3M & 6M T-bills fell by two basis points and 15 basis points respectively compared to the previous auction. The benchmark KSE-100 index stayed mostly in the green territory as investors opted for value hunting due to clarity in the finance bill amendment approved by the National Assembly.… Continue

·        Market remained under pressure today due to major sell-off in the banking stocks. Cement sector stayed in the red zone due to increase in Afghan coal price and export tax. Value buying was witnessed in the E&P sector. In the last trading hour, profit taking was witnessed across the board.… Continue

· The benchmark KSE-100 index witnessed an under-pressure session today as investors opted for profit taking. Main board activity remained dry whereas hefty volumes were recorded in the 3rd tier stocks.

· The Index closed at 41,765.62pts, down by 112.95pts (-0.27% DoD).… Continue

·        PSX witnessed a positive session today due to clarity on budgetary measures taken by the government imposing super tax also dubbed as “Poverty alleviation tax” on large corporate’s profitability pertaining to tax year 2022. Moreover, expectation of IMF will send a draft of the Memorandum of Economic and Financial Policies to Pakistan today driving optimism among investor triggering value buying across the board. … Continue

Market Commentary

The market commenced on a negative note this week over uncertainty over the IMF Program, whereby the index shed 300 points DoD. However, the sentiment turned positive when a Chinese consortium of banks signed a USD 2.3bn loan facility agreement, and the ECC approved the second installment of PKR 96bn to the IPPs of the 2002 power policy.… Continue

Miftah Ismail, Finance Minister of Pakistan, in his speech in the parliament, announced an additional one-time super tax of 10% to be imposed on FY22 earnings on specified sectors where companies make an annual profit of over Rs300mn. Hence, the effective tax rate for selected sectors would increase from 29% to 39% for Tax Year 2022 and 29% in Tax Year 2023.… Continue

·        KSE-100 index was dominated by the bulls today. Across the board rally was witnessed as Chinese consortium of banks signed an RMB 15 billion ($2.3 billion) loan facility agreement which resulted in recovery of Pak Rupee against USD. Volumes remained healthy across the board.… Continue

· KSE-100 index opened in the green zone as rupee, during the day, snapped its losing streak against the dollar gaining Rs3.80 in the interbank market a day after the government secured the much-anticipated deal with the International Monetary Fund (IMF).… Continue

·        Bulls triumphed the trading session at PSX today. KSE-100 index remained in the green zone throughout the day as value buying was witnessed across the board. The investors gained confidence in expectation of resumption of the IMF Program. Volumes remained healthy in the main board.… Continue

·        The market observed a negative session today as US Dollar continued its flight against PKR. Investor’s participation lingered in the lackluster zone over concerns of resumption of IMF program. Volumes remained dry in the main board whereas hefty volumes were witnessed in the 3rd tier stocks.… Continue

This week, the market opened on a negative note amid concerns over the dissatisfaction expressed by IMF upon measures taken in Federal Budget 2022-23, whereby the market plunged by 1,135points DoD. After the bloodbath, the market sentiment turned positive amid the expectation of the exclusion of Pakistan from FATF’s grey list. … Continue

·        The bulls dominated the market throughout the day as Pakistan hopes to come off FATF grey list today. The Financial Action Task Force (FATF), a global watchdog for combatting money laundering and terrorist financing, is expected to announce today whether Pakistan will be removed or retained on its increased monitoring list, also known as the “grey list”.… Continue

·        PSX continued positive momentum as investors’ confidence was boosted as Government announced to further increase fuel prices in order to keep in line with the IMF Program. KSE-100 Index stayed in green zone throughout the day.  Activity remained healthy across the board as cement sector remained in the limelight due to price increase in the North region.  … Continue

·        PSX witnessed a bloodbath session today due to high inflationary and post-budget concerns. The KSE-100 index plunged by over 1,179 points as investors were unable to digest the adverse measures announced in the budget. Moreover, Pak rupee continued to decline against US dollar.… Continue

·        The KSE-100 index remained range bound with low volumes due to concerns regarding upcoming budget and inflationary pressure. Pharma and IT Sector remained in the limelight due to expectation of incentives in the budget. Value buying was observed in the last trading hour which led the index to close in the green zone.… Continue

·        The PSX remained positive throughout the day due to strengthening of Pak Rupee against US Dollar and accumulation of value stocks. Pharmaceutical and Technology sectors remained in the limelight due to rumors of tax relief in the upcoming budget. Mainboard activity gained momentum while hefty volumes were observed in the 3rd tier stocks.… Continue

·        PSX continued to remain under pressure throughout the day due to concerns regarding adverse upcoming budget and mounting inflation. The benchmark KSE-100 index witnessed a volatile session as investors opted to remain sideways as lackluster volume was witnessed in the main board stocks whereas hefty volumes were observed in 3rd-tier stocks.… Continue

·        A range-bound session was observed at PSX today given further devaluation of PKR against USD tagged with concerns of new taxes in the upcoming budget, keeping the investors at bay. The volumes remained dry in the main board although 3rd tier stocks continued positive momentum.… Continue

· The index opened on a positive note and remained bearish throughout the last trading session. The local bourse posted an intraday low of 1,093pts and concluded with a loss of 923pts to settle at 41,315pts level. The volumes witnessed in the last trading session were heavier than the previous trading session.… Continue

The outgoing week witnessed lacklustre activity in the KSE-100 index largely due to economic uncertainty prevailing in the country. Despite a rise in fuel prices by PKR 30/litre last week, the subsidy on petrol and diesel prices remained at PKR 39/litre and PKR 53/litre, respectively.… Continue

·        The market remained under pressure as investors remained stagnant over expectations of an adverse budget announcement. The KSE-100 plunged to 354 points as selling pressure was witnessed across the board as concerns over increasing inflation kept the investors at bay.… Continue