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PSX Closing Bell: On a Plain
Mar 05, 2021 (MNL): The Benchmark KSE100 index ended the trading session on Friday with a 558.81 point or 1.23 percent gain to close at 45,837.35.
The market opened on a negative note, however, it managed to close in green after rebounding in the second trading session today on the back of assuaging political uncertainty.
E&Ps remained in limelight today as international crude oil prices touched new highs. Arab light closed at USD 67.38/bbl, up 7% DoD, a report by Ismail Iqbal Securities quoted.
Of the 96 traded companies in the KSE100 Index 76 closed up 14 closed down, while 6 remained unchanged. Total volume traded for the index was 168.08 million shares.
Sectors propping up the index were Commercial Banks with 135 points, Oil & Gas Exploration Companies with 132 points, Cement with 59 points, Fertilizer with 52 points and Power Generation & Distribution with 51 points.
The most points added to the index was by POL which contributed 46 points followed by OGDC with 42 points, HBL with 37 points, LUCK with 35 points and TRG with 33 points.
Sector wise, the index was let down by Tobacco with 12 points.
The most points taken off the index was by COLG which stripped the index of 15 points followed by PAKT with 12 points, AICL with 2 points, PSX with 2 points and PSMC with 2 points.
All Share Volume decreased by 124.26 Million to 317.24 Million Shares. Market Cap increased by Rs.69.71 Billion.
Total companies traded were 409 compared to 412 from the previous session. Of the scrips traded 295 closed up, 88 closed down while 26 remained unchanged.
Total trades decreased by 36,245 to 120,079.
Value Traded decreased by 5.29 Billion to Rs.15.94 Billion
| Company | Volume |
|---|---|
| Azgard Nine | 29,246,500 |
| TRG Pakistan | 21,080,180 |
| Pakistan Refinery | 17,894,500 |
| Ghani Global Holdings | 17,334,500 |
| Fauji Fertilizer Bin Qasim | 14,825,500 |
| Kot Addu Power Company | 13,638,500 |
| Byco Petroleum Pakistan | 10,616,000 |
| Unity Foods | 9,469,077 |
| Hum Network | 9,369,000 |
| Worldcall Telecom | 9,240,000 |
| Sector | Volume |
|---|---|
| Technology & Communication | 55,063,380 |
| Refinery | 33,703,500 |
| Textile Composite | 32,064,710 |
| Power Generation & Distribution | 29,962,002 |
| Commercial Banks | 22,649,067 |
| Chemical | 21,876,490 |
| Cement | 21,836,195 |
| Food & Personal Care Products | 16,438,517 |
| Fertilizer | 15,988,674 |
| Engineering | 12,300,354 |
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Central Government debt surged by Rs 3.54 trillion YoY...
March 5, 2021 (MLN): The total debt of the Central Government during the month of January 2021 surged by Rs. 3.54 trillion or 11% YoY to stand at Rs. 36.53 trillion when compared to Rs 32.997 trillion recorded in January 2020.
On a monthly basis, the central government debt increased by 1% against Rs. 36.26 trillion reported in December 2020.
The latest data released by the State Bank of Pakistan (SBP) shows that the larger portion of the debt was domestic, whereas the remaining was external. The Central Government Domestic Debt amounted to Rs. 24.5 trillion during the month, signifying a growth of around 12% YoY, comprising of Rs. 19.36 trillion long-term debt and Rs. 5.13 trillion short-term debt.
By the end of January 2021, the government’s long-term debt increased by 1% MoM while on yearly basis, it surged by 16% when compared to Rs. 16.74 trillion at the end of January 2020.
Similarly, the short-term debt increased by 2% both on an MoM and YoY basis.
Within the long-term domestic debt, the Pakistan Investment Bonds (PIBs) accounted for Rs. 14.16 trillion, and Saving Schemes accounted for Rs. 3.525 trillion, showing a jump of 15% and 8% YoY respectively. While in the short-term domestic debt, Market Treasury Bills amounted to Rs. 5.134 trillion, up by 8% YoY
A breakup of the Central Government External Debt shows that nearly Rs.11.89 trillion came from long-term loans, depicting a growth of 13% YoY while Rs. 140.7 billion came from short-term loans, which was 78% lower compared to the same month last year.
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GSKCH’s profitability during CY20 remains flat
March 5, 2021 (MLN): Glaxo SmithKline Consumer HealthCare Pakistan Limited (GSKCH) has announced its financial performance for the CY20, as per which the company’s net profits after tax remained flat at Rs 1.26 billion with Earnings per share stood at Rs 10.78/sh.
Alongside financial results, the company announced a cash dividend of Rs 5/sh i.e. 50% for the year 2020.
Despite the increase in net sales by 21.6% YoY, the gross margin of the company shrank to 27% from 31% in CY19. This dilution was attributable to an adverse sales mix resulting from greater demand for lower-margin products (e.g. Vitamins and Pain products). Furthermore, the additional market demand for Panadol was met through the procurement of raw material at increased prices due to the supply situation in China.
On the cost front, the company witnessed a 13% YoY increase in its selling and marketing cost, while its admin and other operating expenses surged by a mere 2% and 8% YoY respectively. The company also observed a 34.5% YoY increase in income earned from other sources, nonetheless, the impact of higher operating cost and lower other income was offset by 69.84% YoY decline in financial charges.
Moreover, the company’s effective tax rate came in at 29% compared to 26% in the comparative year.
Financial Results for the Year ended December 31, 2020 (Rupees) | |||
|---|---|---|---|
| Dec-20 | Dec-19 | % Change |
Net sales | 19,846,106,200 | 16,316,744,549 | 21.63% |
Cost of sales | (14,518,243,501) | (11,330,677,070) | 28.13% |
Gross profit | 5,327,862,699 | 4,986,067,479 | 6.86% |
Selling, marketing and distribution expenses | (3,098,439,077) | (2,739,642,160) | 13.10% |
Administrative expenses | (289,759,267) | (283,361,186) | 2.26% |
Other operating expenses | (154,286,291) | (142,592,667) | 8.20% |
Other income | 46,922,471 | 71,671,539 | -34.53% |
Operating profit/(loss) | 1,832,300,535 | 1,892,143,005 | -3.16% |
Financial cost | (58,008,181) | (192,365,037) | -69.84% |
Profit/(loss) before taxation | 1,774,292,354 | 1,699,777,968 | 4.38% |
Taxation | (512,283,767) | (442,259,158) | 15.83% |
Profit/(loss) after taxation | 1,262,008,587 | 1,257,518,810 | 0.36% |
Earnings per share - basic and diluted (Rupees) | 10.78 | 10.74 | 0.37% |
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Gold prices fall further by Rs 1,450 to Rs...
March 05, 2021 (MLN): The price of 24 karat per tola gold decreased by Rs 1,450 on Friday and was sold at Rs 102,750 against the sale at Rs 104,200 yesterday.
According to the data released by Karachi Sarafa Association, the price of ten-gram 24 karat gold also decreased by Rs 1,243 and was traded at Rs 88,092 against the price of Rs 89,335 reported yesterday, while that of ten-gram 22 karat gold decreased from Rs 81,890 to Rs 80,750.
The price of per tola silver decreased by Rs 10 and was sold at Rs 1,340 against yesterday’s close of Rs 1,350, while that of ten-gram silver decreased by Rs 8.57 and was traded at Rs 1,148.43.
The gold price in the international markets declined by $17 and was sold at US $1,696 against the previous day’s rate of US $1,713, the association added.
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OGRA revises RLNG price with slight downward adjustment
March 05, 2021 (MLN): The Oil and Gas Regulatory Authority (OGRA) on Friday notified the revised price of Re-gasified Liquefied Natural Gas (RLNG) on networks of the SSGC and SNGPL for the current month with a slight downward adjustment.
According to a notification, the authority has fixed the price of imported RLNG at $9.3145 per Million British Thermal Unit (MMBTU) on the system of Sui Southern Gas Company (SSGC) for the month of March, which was at $9.3570 during the last month.
Similarly, the sale price of per MMBTU RLNG would remain at $9.5905 on the SNGPL system during the current month, which was being sold at $9.6191 in February.
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