Market Summary for the Week 10th to 14th July 2023
Since the start of the current fiscal year, the Pakistan Stock Market has shown improvement. The main reasons behind this are attributed to the finalization of the IMF program that was on hold since November of last calendar year causing a significant decrease of foreign exchange reserves in the country. Now the program has been approved and the first tranche of US$ 3 billion has been received. Besides, the financial inflow of US$ 2 billion from Saudi Arabia and US$ 1 billion from UAE has also matured rising the FE reserves with the State Bank. This also positively impacted the market, improving the investors’ trust and increasing PSX activity, resulting in the rise of the KSE indexes.
The overview of the market during the past week i.e. from the 10th to 14th of July 2023 is elaborated here under:-
| Weekly Summary
KSE 100 Index 10th to 14th July 2023 |
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| Date | Points | Volume (Millions) | Value PKR (Billions) |
| 10th July | 44,585.13 | 183.25 | 9.06 |
| 11th July | 45,155.80 | 248.17 | 12.09 |
| 12th July | 45,514.95 | 206.7 | 10.53 |
| 13th July | 45,266.96 | 225.22 | 11.36 |
| 14th July | 45,067.98 | 112.88 | 5.01 |
| Weekly Summary
KSE All Index 10th to 14th July 2023 |
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| Date | Points | Volume (Millions) | Value PKR (Billions) |
| 10th July | 29,821.17 | 439.14 | 12.08 |
| 11th July | 30,211.25 | 549.41 | 15.44 |
| 12th July | 30,449.76 | 449.5 | 13.13 |
| 13th July | 30,360.75 | 489.08 | 14.54 |
| 14th July | 30,329.14 | 267.44 | 6.78 |
| Weekly Summary
KSE 30 Index 10th to 14th July 2023 |
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| Date | Points | Volume (Millions) | Value PKR (Billions) |
| 10th July | 15,875.28 | 143.1 | 7.8 |
| 11th July | 16,030.56 | 153.79 | 9.25 |
| 12th July | 16,203.05 | 130.59 | 8.72 |
| 13th July | 16,103.67 | 168.93 | 10.17 |
| 14th July | 16,015.31 | 69.05 | 3.71 |
Day-to-Day Performance of the Pakistan Stock Market (10th to 14th July 2023)
10th July 2023
The market kept the upward trend and the KSE 100 index closed at 444,585.13 points gaining 377.82 points with a volume of 183.25 million shares worth PKR 9.06 billion.
The KSE All index also gained 273.55 points and closed at 29,821.17 points. The trade volume remained at 439.14 million shares with a value of PKR 12.08 billion.
KSE 30 index scored a volume of 143.10 million shares worth PKR 7.80 billion and closed at 15,875.28 points gaining 70.81 points.
| PSX Indexes as of 10th July 2023 | |||
| Date | Points | Volume (Millions) | Value PKR (Billions) |
| KSE 100 | 44,585.13 | 183.25 | 9.06 |
| KSE All | 29,821.17 | 439.14 | 12.08 |
| KSE 30 | 15,875.28 | 143.1 | 7.8 |
Top Trading Companies KSE All 10th July 2023
WTL was the top trader in volume with 28.19 million shares traded during the day. Closing at a price of PKR 1.26 per share, the stock gained PKR 0.01 (0.8%) DoD.
JSBLR1 closed at PKR 0.22 per share gaining PKR 0.21 (2100%) DoD with a trade of 27.94 million shares.
The trading volume for UNITY was 20.66 million shares during the day. The share closed at a price of PKR 20.18 gaining PKR 1.06 (5.54%) DoD.
| Top Trading Companies (KSE All) on 10th July 23 | |||
| Company | Volume (millions) | Closing Price (PKR) | Gain/(Loss) PKR |
| WTL | 28.19 | 1.26 | 0.01 (0.8%) |
| JSBLR1 | 27.94 | 0.22 | 0.21 (2,100%) |
| UNITY | 20.66 | 20.18 | 1.06 (5.54%) |
11th July 2023
KSE 100 index gained 570.67 points DoD and closed at 45,155.80 points with a trading volume of 248.17 million shares worth PKR 12.09 billion.
KSE ALL index gained 117.89 over the previous day and closed at 30,211.25 points with a trading volume of 549.41 million shares worth PKR 15.44 billion.
Also, the KSE 30 index improved by 155.28 points and closed at 16,030.56 points. The trade volume for KSE 30 companies was 153.79 million shares with a value of PKR 9.25 billion.
| PSX Indexes as of 11th July 2023 | |||
| Date | Points | Volume (Millions) | Value PKR (Billions) |
| KSE 100 | 45,155.80 | 248.17 | 12.09 |
| KSE All | 30,211.25 | 549.41 | 15.44 |
| KSE 30 | 16,030.56 | 153.79 | 9.25 |
Top Trading Companies (KSE All) on 11th July 23
Among the top trading companies on the 11th of July WTL was on top with a trading volume of 35.09 million shares. The share closed at a price of PKR 1.26 with no change from the previous day’s price.
PRL had a trading volume of 31.42 million shares. The share gained PKR 0.67 (4.12%) DoD and closed at a price of PKR 31.42.
The trade volume for FFL was 23.2 million shares. Closing at a price of PKR 6.74, the stock gained PKR 0.41 (6.48%) DoD.
| Top Trading Companies (KSE All) on 11th July 23 | |||
| Company | Volume (millions) | Closing Price (PKR) | Gain/(Loss) PKR |
| WTL | 35.09 | 1.26 | 0 |
| PRL | 31.42 | 16.95 | 0.67 (4.12%) |
| FFL | 23.2 | 6.74 | 0.41 (6.48%) |
12th July 2023
KSE 100 index gained 359.15 points DoD and closed at 45,514.95 points with a trading volume of 206.7 million shares worth PKR 10.53 billion.
KSE ALL index gained 238.41 over the previous day and closed at 30,449.76 points with a trading volume of 449.5 million shares worth PKR 13.13 billion.
Also, the KSE 30 index improved by 172.49 points and closed at 16,203.05 points. The trade volume for KSE 30 companies was 130.59 million shares with a value of PKR 8.72 billion.
| PSX Indexes as of 12th July 2023 | |||
| Date | Points | Volume (Millions) | Value PKR (Billions) |
| KSE 100 | 45,514.95 | 206.7 | 10.53 |
| KSE All | 30,449.76 | 449.5 | 13.13 |
| KSE 30 | 16,203.05 | 130.59 | 8.72 |
Top Trading Companies (KSE All) on 12th July 23
On the 12th of July, UNITY emerged as the leading trading company with a trading volume of 20.35 million shares. The closing price of UNITY’s share was PKR 22.50, reflecting a gain of PKR 0.81 (3.73%) compared to the previous day.
PIBTL had a trading volume of 18.2 million shares. The share experienced a gain of PKR 0.2 (4.54%) DoD, closing at a price of PKR 4.61 per share.
BOP recorded a trading volume of 16.25 million shares. With a closing price of PKR 3.74, the stock gained PKR 0.14 (3.89%) DoD.
| Top Trading Companies (KSE All) on 12th July 23 | |||
| Company | Volume (millions) | Closing Price (PKR) | Gain/(Loss) PKR |
| UNITY | 20.35 | 22.50 | 0.81 (3.73%) |
| PIBTL | 18.2 | 4.61 | 0.2 (4.54%) |
| BOP | 16.25 | 3.74 | 0.14 (3.89%) |
13th July 2023
On the 13th of July 2023, the KSE 100 index experienced a decline of 247.99 points DoD, closing at 45,266.96 points. The trade volume for the KSE 100 index stood at 225.22 million shares, valued at PKR 11.36 billion.
Similarly, the KSE ALL index suffered a loss of 89.01 points compared to the previous day, concluding at 30,360.75 points. The trading volume for the KSE ALL index reached 489.08 million shares, amounting to PKR 14.54 billion.
The KSE 30 index witnessed a drop of 99.38 points, closing at 16,103.67 points. The trade volume for the KSE 30 companies amounted to 168.93 million shares, with a total value of PKR 10.17 billion.
| PSX Indexes as of 13th July 2023 | |||
| Date | Points | Volume (Millions) | Value PKR (Billions) |
| KSE 100 | 45,266.96 | 225.22 | 11.36 |
| KSE All | 30,360.75 | 489.08 | 14.54 |
| KSE 30 | 16,103.67 | 168.93 | 10.17 |
Top Trading Companies (KSE All) on 13th July 23
WTL took the lead among trading companies on the 13th of July, with a trading volume of 55.54 million shares. The closing price of WTL’s share remained unchanged at PKR 1.29 compared to the previous day.
In terms of trade volume, TPLP saw a total of 42.17 million shares traded. The share experienced a gain of PKR 0.18 (1.28%) day-over-day (DoD), closing at a price of PKR 14.28 per share.
KEL recorded a trading volume of 30.45 million shares. The stock closed at a price of PKR 2.05, marking a gain of PKR 0.15 (7.89%) DoD.
| Top Trading Companies (KSE All) on 13th July 23 | |||
| Company | Volume (millions) | Closing Price (PKR) | Gain/(Loss) PKR |
| WTL | 55.54 | 1.29 | 0 |
| TPLP | 42.17 | 14.28 | 0.18 (1.28%) |
| KEL | 30.45 | 2.05 | 0.15 (7.89%) |
14th July 2023
On the 14th of July 2023, the Pakistan Stock Market suffered a decline. the KSE 100 index experienced a drop of 198.98 points DoD, closing at 45,067.98 points. The trade volume for the KSE 100 index stood at 112.88 million shares, valued at PKR 5.01 billion.
Similarly, the KSE ALL index suffered a loss of 31.68 points compared to the previous day, concluding at 30,329.14 points. The trading volume for the KSE ALL index reached 267.44 million shares, amounting to PKR 6.78 billion.
The KSE 30 index witnessed a drop of 88.36 points, closing at 16,015.31 points. The trade volume for the KSE 30 companies amounted to 69.05 million shares, with a total value of PKR 3.71 billion.
| PSX Indexes as of 14th July 2023 | |||
| Date | Points | Volume (Millions) | Value PKR (Billions) |
| KSE 100 | 45,067.98 | 112.88 | 5.01 |
| KSE All | 30,329.14 | 267.44 | 6.78 |
| KSE 30 | 16,015.31 | 69.05 | 3.71 |
Top Trading Companies as of 14th July 2023
On the 14th of July, TELE took the lead among the top trading companies of the Pakistan Stock Market with a trading volume of 31.11 million shares. The share closed at a price of PKR 8.28, reflecting a gain of PKR 0.48 (6.15%) compared to the previous day’s price.
WTL witnessed a trading volume of 20.05 million shares during the day. The share closed at a price of PKR 31.42, showing no change in value relative to the previous day’s price.
In the case of KEL, the trade volume reached 19.45 million shares. The stock closed at a price of PKR 2.00, resulting in a loss of PKR 0.05 (-2.44%) day-over-day (DoD).
| Top Trading Companies (KSE All) on 14th July 23 | |||
| Company | Volume (millions) | Closing Price (PKR) | Gain/(Loss) PKR |
| TELE | 31.11 | 8.28 | 0.48 (6.15%) |
| WTL | 20.05 | 1.29 | 0 |
| KEL | 19.45 | 2.00 | -0.05 (-2.44%) |
Conclusion
During the week investor confidence remained high following the staff-level agreement with the International Monetary Fund (IMF).
The KSE-100 index concluded the week at 45,068, recording a significant increase of 861 points week-on-week (WoW). Notably, the Chemicals sector witnessed a strong performance with a 13% WoW increase, followed by the Engineering sector with a 6% WoW rise and the Refinery sector with a 5.6% WoW growth.
On the economic front, the IMF’s Executive Board approved a 9-month Stand-By Arrangement for Pakistan, amounting to US$3 billion. The first tranche of approximately US$1.2 billion was immediately disbursed. The IMF highlighted crucial factors such as the implementation of the FY24 Budget, maintaining a market-based exchange rate, monetary tightening, and reforms in the energy sector. The receipt of the first tranche from the IMF, coupled with funds from Saudi Arabia (US$2 billion) and the UAE (US$1 billion), acted as significant positive catalysts during the week.
Furthermore, Fitch Ratings upgraded Pakistan’s Foreign-Currency Issuer Default Rating from “CCC-” to “CCC” due to improved external liquidity and funding conditions following the IMF agreement.
Considering the initial rise and then dip around 45000 points as already anticipated the investors should book gains and buy on dips to secure the value of investments.
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Disclaimer
The post is for information and educational purposes. The information has been gathered by the team of Fiscal Updates from direct sources, however, the information in this post may not be used as a reference in any legal document. For trading and investment decisions, professional advice may be sought.