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PSX Closing Bell: Lithium

February 26, 2021 (MNL): The KSE-100 index ended the trading session on Friday with a 100.61 point or 0.22 percent decline to close at 45,865.02.

The stock market once again followed the footsteps of international oil prices, which fell on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to come back to the market.

On local front, Pakistan and Qatar signed an LNG supply agreement, as per which, the latter would provide Pakistan with three million tons of Liquified Natural Gas for 10 years. Pursuant to this, Pakistan State Oil Company signed a Long Term LNG Sales and Purchase Agreement (SPA) with Qatar Petroleum.

Several companies announced their financial results for the period ended December 31, 2020, including HUBCO, SCBPL, LOTCHEM, PPL, and INDU. Out of these, only HUBC managed to make a place for itself in the top performing stocks for today.

The Index traded in a range of 479.96 points or 1.04 percent of previous close, showing an intraday high of 46,239.89 and a low of 45,759.93.

Of the 97 traded companies in the KSE100 Index 33 closed up 62 closed down, while 2 remained unchanged. Total volume traded for the index was 233.08 million shares.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 56 points, Technology & Communication with 33 points, Chemical with 31 points, Automobile Assembler with 24 points and Oil & Gas Marketing Companies with 20 points.

The most points taken off the index was by OGDC which stripped the index of 54 points followed by TRG with 45 points, COLG with 30 points, NML with 16 points and NBP with 13 points.

Sectors propping up the index were Cement with 48 points, Pharmaceuticals with 27 points, Power Generation & Distribution with 16 points, Fertilizer with 13 points and Inv. Banks / Inv. Cos. / Securities Cos. with 9 points.

The most points added to the index was by LUCK which contributed 57 points followed by HBL with 34 points, SEARL with 21 points, FFC with 18 points and ANL with 16 points.

All Share Volume increased by 11.01 Million to 479.98 Million Shares. Market Cap decreased by Rs.55.31 Billion.

Total companies traded were 417 compared to 416 from the previous session. Of the scrips traded 144 closed up, 257 closed down while 16 remained unchanged.

Total trades increased by 23,228 to 170,864.

Value Traded increased by 2.49 Billion to Rs.25.75 Billion

CompanyVolume

Top Ten by Volume

Unity Foods45,361,711
Telecard36,667,000
TRG Pakistan33,150,585
Byco Petroleum Pakistan26,514,500
Hum Network15,659,000
Pakistan Refinery15,001,500
Hascol Petroleum13,623,737
Lotte Chemical Pakistan13,231,500
Pakistan International Bulk Terminal12,350,500
Maple Leaf Cement Factory11,770,879

 

SectorVolume

Top Sector by Volume

Technology & Communication118,729,485
Food & Personal Care Products55,038,671
Refinery49,791,500
Cement36,850,847
Commercial Banks28,495,311
Chemical24,634,120
Power Generation & Distribution23,659,588
Inv. Banks / Inv. Cos. / Securities Cos.23,523,826
Oil & Gas Marketing Companies20,753,474
Textile Composite15,690,760

 

 

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Gold loses shine amid rising US bond yields

February 26, 2021 (MLN): Gold rates extended decline today, as the per tola price of 24 karat gold in the domestic bullion market dipped by Rs 1,050 and was sold at Rs 109, 250 against the sale at Rs 110,300 reported yesterday.

 Likewise, 10-grams of 24 karat gold also witnessed a fall of Rs 900 to settle at Rs 93,664 as opposed to the previous close of Rs 94,564, data provided by All Sindh Sarah Jewellers Association revealed.

On a similar note, per tola price of 24-karat silver slid by Rs 20 and was traded at Rs 1,400 against its sale at Rs 1,420 while that of 10-gram silver fell by Rs 17.15 and was traded at Rs 1, 200.27 against Rs 1,217.42.

In the international market, rising US bond yields have hurt the demand for safe haven, as gold price fall by USD 26 and were available at USD 1,764 per ounce against USD 1,790 an ounce in the previous session, while silver was valued at Rs 29.90 an ounce, the association reported.

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Revival in auto sector activity driving flat steel offtake:...

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Pakistan’s association with WIPO to provide exporters with cheaper...

February 26, 2021 (MLN): Ministry of Commerce on Friday informed that on February 24, 2021, Pakistan joined the Madrid Trademark System of World Intellectual Property Organization (WIPO).

‘It is a mechanism for easier and cheaper protection of trademarks globally. This will take effect from 24 May 2021’, the Adviser to PM, Abdul Razzak Dawood said via Twitter.

‘Our exporters would be able protect their trademarks in 107 export markets by filing a single application & paying a single set of fees at WIPO. It will also encourage leading world brands to enter Pakistan’s market’, he said.

‘It is our policy that helping our brands to go global is the best & most sustainable way to increase exports. MOC remains committed to supporting our brands & to strengthening of intellectual property ecosystem. I want to congratulate IPO Pakistan for work done in this regard’, he added.

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Weekly SPI Increases by 13.89% YoY

February 26, 2021 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 2.41% during the week ended Feb 25, 2021 while the SPI increased by 13.89% compared to the corresponding period from last year.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 147.09 compared to 143.63 on Feb 18, 2021 while the index was recorded at 129.15 a year ago, on Feb 27, 2020

Out of the 51 monitored items, the average price of 25 items increased, 5 items decreased whereas 21 items registered no change during the week.

The weekly SPI percentage change by income groups showed that SPI increased across all quantiles ranging between 1.29% and 6.65%.

The Lowest Income Group witnessed a weekly increase of 6.65% while the highest income group recorded an increase of 1.47%.

On an yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 11.5% and 19.76%.

Yearly SPI for the Lowest Income Group increased by 19.76% while the highest income group recorded an increase of 11.5%.

The average price of Sona urea stood at Rs.1741 per 50 kg bag which same as last week’s price and 1.3% lower when compared to last year.

Meanwhile, average Cement price was recorded at Rs.608 per 50 kg bag, unchanged from previous week but 12.38% higher than prices last year.

 

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