PakStox Outlook

On Tuesday, 8th October 2024, the Pakistan Stock Exchange (PSX) maintained its upward momentum. The KSE-100 Index opened slightly down by 5 points but swiftly gained 914 points during the session, with only a brief intraday loss of 12 points. The index ultimately closed with a substantial net gain of 754 points, reaching 85,664. This follows the previous day's impressive gain of 1,378 points. Over the last five trading sessions, the KSE-100 Index has accumulated a total of 3,859 points. Year-to-date, the index has surged by 37%, highlighting robust market performance in 2024. On Tuesday, major contributors to the KSE-100 Index included BAHL (+165 points), HBL (+162 points), EFERT (+144 points), OGDC (+108 points), and BAFL (+87 points). On the downside, HUBC, MARI, LUCK, UBL, and FCCL dragged the index, contributing negative points to the overall performance. Major Gainers Today: PNSC (P.N.S.C) at 428.9, +10.0% SYM (Symmetry Group Ltd) at 10.2, +9.8% CSAP (Crescent Steel) at 100.7,...

"Given the present-day significance and importance of ESG concerns, it is now imperative and imminent to adhere to and report on ESG linked data crucial for sustainability assessment of the businesses and informed investment decision making. In this context, PSX had signed a collaborative understanding with (London Stock Exchange Group’s) Refinitiv on ESG. Under this mutual agreement, Refinitiv’s ESG Contribution Tool is available to the listed companies for their ESG data reporting. This Contribution Tool will not only enable presenting a standardized ESG scoring by Refinitiv for contributing PSX listed companies but will also enhance the visibility of Pakistan’s companies on the international ESG radar. Following that, PSX and Refinitiv, a London Stock Exchange Group (LSEG) company, jointly launched an ESG Contribution Tool on 18th April 2024 in an online session to the listed companies in Pakistan. " - Excerpt from PSX Annual Report See this primer on Environment, Social a...

PPL | Pakistan Petroleum. The Chairman laments in the annual report that ..."lower offtakes from Sui Northern Gas Pipelines Limited (SNGPL), due to more than required volumes of Liquefied Natural Gas (LNG) in the system, negatively impacted net production by around 20 MMscfd." See PPL Annual Report . For excerpts from the report see this note. OGDC |  OGDCL’s average daily net saleable crude oil, gas and LPG production clocked in at 33,117 barrels, 717 MMcf and 717 tons in comparison to 32,478 barrels, 764 MMcf and 720 Tons in the preceding year. See Annual Report . See Excerpts.  In 2024, OGDC's finance and other income dropped to PKR 41 billion from PKR 154.billion in 2023, comprising 14% of PBT compared to 40.32% last year. The 2023 figure was elevated by one-off gains from a finance lease modification and exchange rate movements. If the Pakistani Rupee strengthens in the future, it could negatively impact OGDC's income further. GGGL | Ghani Global Glass Ltd. To ...

Today, the KSE100 Index lost 592 points and closed at 71,103. Yesterday, it had lost more than 1000 points. Today, initially, the index had risen more than 400 points, but it later entered negative territory and ended the day, breaking the intra-day level of 72k. After making a net buy of a huge amount of over $3.5 million yesterday, the ‘Individuals’ today were in a selling mood and made a net sale of $2.8 million as the KSE100 lost 590 points. This is the biggest net sale in the local investor category. The other biggest seller category was ’other organization’ ( i.e., not fitting in any category). The activity of ‘Individuals’ is without a pattern at PSX, and their stance is generally opportunistic. Encouragingly, mutual funds were net buyers today, though for a small amount. The ‘Foreign Corporate’ made a good amount of net buying of $2.64 million. Even overseas Pakistanis were net buyers today. Yesterday evening, after the market closed, the Monetary Policy Committee of the Pakist...