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Risk-averse foreign investors pull out another $76.53 million on...

March 30, 2020 (MLN): The foreign net outflow continued to increase to $76.53 on March 27, 2020 from Pakistan’s sovereign debt securities and equity as fears of a global recession over COVID-19 spread heightened risk aversion.

According to the daily SCRA data published by SBP, the local market witnessed total inflows of $1.43 million on the said day whereas foreigners withdrew $74.65 million from T-bills and $3.31 million from local equities, aggregating the outflow of $77.96 million.

This month so far, international investors detached $1.65 billion (net) from T-bills, whereas, $81.37 million and $45.397 million (net) have been withdrawn from equities and PIBs respectively, bringing the total net outflows to arrive at $1.78 billion.

Cumulatively, from July to date, foreigners have poured $3.43 billion in T-bills, out of which $1.98 billion has been withdrawn, indicating $1.44 billion still parked in T-bills.

With regards to PIBs, the total foreign inflow from July 2019 to date has been recorded at $60.5 million, out of which $45.42 million has been extracted so far.

This suggests that since July, cumulatively foreigners invested $3.49 billion in Government Securities (T-bills and PIBs) out of which $2.03 billion has been withdrawn, bringing the total net inflows to settle at $1.46 billion.

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Profit repatrition during February falls by 75 percent, MoM

March 30, 2020 (MLN): Profits and dividends repatriated by Pakistani sectors during February 2020 stood at $27.3 million, showing a decrease of 75% as compared to the previous month and 64% as compared to the same period of last year.  

During the period Jul-Feb FY2020, the profit repatriation declined by merely 2.1% to $973.9 million over the same period of last year.

According to the latest data released by the State Bank of Pakistan (SBP), the Oil and Gas exploration sector made the highest repatriation of profits during the period at $20 million, owing to a rise in oil prices in the international markets. However, this amount was 68% lower against the profits repatriated in the previous month and 44% against profits repatriated in the same period of last year.

The profits repatriated by the remaining sectors were meager against that of the leading sector. The Power Sector hardly took the second lead, as it managed to repatriate only 3.4 million, which is surprisingly elevenfold greater as compared to the previous month and 44% as compared to the same period of last year.  

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24-Karat gold plummets by Rs 4,400 to Rs 96,600...

March 30, 2020 (MLN): The price of 24 Karat-Gold plunged up by Rs 4,400 to close at Rs 96,600 per tola due to a decrease in demand for safe-haven metals in local markets. The precious yellow metal of 24-Karat had closed at Rs 101,100 per tola in the previous session.

According to the Karachi Sarafa Association, the silver prices edged higher by Rs 14.30 to peg at Rs 950 per tola as compared to Rs 935.7 during the last trading day.

In the global markets, the price of per ounce gold was traded at $1,620.

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CDWP clears 6 projects of over Rs 133.466 bn

March 30, 2020: The Central Development Working Party (CDWP) Monday approved two projects worth Rs 466.264 million and recommended four projects valuing Rs 133 billion to Executive Committee of National Economic Council (ECNEC) for consideration.

Secretary Planning Zafar Hasan, senior officials from federal and provincial governments also participated in the meeting while representatives from provincial governments participated through videoconference.

Projects related to Health, Physical Planning and Housing, Transport and Communication and Water Resources were considered during the meeting.

Health-related project from Government of Punjab namely ‘Punjab Human Capital Investment project” worth Rs. 52.8 billion was referred to the Executive Committee of the National Economic Council (ECNEC).

The project envisages increasing the access to quality health, education and social protection services among poor and vulnerable households in 11 districts of Punjab.

In the physical planning and housing sector, the CDWP approved construction of Admin Block, Magazine Quarter Guard, Barracks, MT Shed, Horse Stable and Parade Ground in Diplomatic Enclave, Islamabad worth Rs 280 million.

The Committee also cleared Position Paper titled “Construction of 4 Nos, B type Police Station in Various Sector of Islamabad” worth Rs 185.416 million.

Two Position papers related to Transport and Communications were presented namely “Peshawar Northern Bypass” worth Rs 21.338 billion and “Up-gradation, widening and construction of Surab- Hoshab Road N-85 (454 km)” worth Rs 28.823 billion both were referred to ECNEC for further approval.

The project “Khyber Pakhtunkhwa Irrigated Agriculture Improvement Project” worth Rs 30048.747 million was also referred to ECNEC for further approval.

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Closing Bell: Calming the storm!

March 30, 2020 (MLN): The stock markets remained somewhat volatile throughout the day, with the KSE-100 trading beneath 28,000-mark for the majority of the session. However, the benchmark index quickly gained momentum in the second half as it ended the session with a loss of just 86 points and closed at 28,083-level.

 

The Index remained negative throughout the session touching an intraday low of 27,461.59

Of the 93 traded companies in the KSE100 Index 42 closed up 48 closed down, while 3 remained unchanged. Total volume traded for the index was 127.65 million shares.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 133 points, Commercial Banks with 95 points, Tobacco with 19 points, Miscellaneous with 12 points and Automobile Assembler with 7 points.

The most points taken off the index was by PPL which stripped the index of 73 points followed by OGDC with 46 points, ENGRO with 35 points, UBL with 20 points and PAKT with 19 points.

Sectors propping up the index were Cement with 136 points, Power Generation & Distribution with 47 points, Pharmaceuticals with 12 points, Engineering with 8 points and Technology & Communication with 5 points.

The most points added to the index was by LUCK which contributed 65 points followed by FFC with 38 points, HUBC with 32 points, DGKC with 18 points and FCCL with 17 points.

All Share Volume decreased by 9.97 Million to 159.47 Million Shares. Market Cap decreased by Rs.43.47 Billion.

Total companies traded were 328 compared to 304 from the previous session. Of the scrips traded 166 closed up, 145 closed down while 17 remained unchanged.

Total trades increased by 7,206 to 61,135.

Value Traded decreased by 0.01 Billion to Rs.4.23 Billion

CompanyVolume

Top Ten by Volume

K-Electric34,974,000
Maple Leaf Cement Factory9,571,500
Hascol Petroleum7,167,000
Unity Foods6,862,500
Summit Bank6,211,000
The Bank of Punjab6,056,500
Oil & Gas Development Company5,706,492
TRG Pakistan5,562,500
D.G. Khan Cement Company4,506,500
Fauji Cement Company4,386,500

 

SectorVolume

Top Sector by Volume

Power Generation & Distribution40,974,045
Cement29,519,998
Commercial Banks17,978,219
Oil & Gas Exploration Companies10,258,663
Oil & Gas Marketing Companies9,889,616
Technology & Communication9,509,300
Engineering7,488,000
Vanaspati & Allied Industries6,862,500
Food & Personal Care Products6,251,440
Fertilizer4,274,025

 

 

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