PakStox Outlook

KSE100 closed flat +26 points at   44,551 . Traded 62.8mn shares of $20.6mn worth. Both volume and value traded remained less than yesterday. Weekend considerations in addition to national political situation and worsening Ukraine issue kept the market under pressure. In first half of today's trading session Market ignited hopes of strong upward movement. Unfortunate bomb blast at Peshawar taking around 60 lives dented sentiments however. Positive close nonetheless shows resilience of Market at current level. Foreigners today sold on 'Oil & Gas' counter. That was a bit more than usual selling. Mutual Funds were just slightly net sellers today. This is encouraging. A big block on 'food' counter shifted hands making 'individuals' net sellers and 'brokers' net buyers. Banks behavior is heartening. They appear to be consistent buyers in these PSX conditions and are top Net buyers YTD followed by 'Companies'.  Coming out of FATF Gray List re...

PSX opened on positive note and rose more than 190 points erasing yesterdays losses. But selling pressure forced the index to spend much of the day in negative zone. Market however recovered to close +12 points. This market closure is positive considering present scenario. KSE100 closed flat at 44,526 +12. Almost at middle of the Day Range. Traded 107 mn shares of $33.7mn.  If events on national and international front do no take worse turn we can expect the market to perform better in coming days. Mutual Funds have been under redemption pressure.  So far YTD Mutual Funds have sold over $40mn worth of shares. Today Funds were net buyers that too had a positive effect on the market today. 'Foreigners' selling on account of ouster from MSCI EM index is over. And we dont see any major sale on that front. That too is positive. Today's +ve net buying by foreigners is on account of TRG only. Ukraine crises, sky rocketing commodity prices, higher energy cost and political unce...

  📰  Oil (Brent) surges above $118 See live chart Sanctions on Russia taking toll of the World Economy in terms of fears of supply disruptions. IEA members US and Japan have committed to release 60mn barrels of Crude from Emergency Reserves.

📰 MSCI ousts Russia from Emerging Market Index. MSCI to Reclassify the MSCI Russia Indexes from Emerging Markets to Standalone Markets Status. The decision will be implemented on 9 Mar 2022. Press Release Russia was 2.3% of MSCI Emerging markets index. China, Taiwan, India and Korea will benefit the most with Russia ouster. "The inflow in India as per current EM market-cap could be $600mn which will mainly get distributed in index heavy weights like RIL, INFO, HDFC, ICICIBC and TCS," said Edelweiss Alternative Research. ReadMore

KSE100 Index at Market Close 44,514   down 289 pts   YTD   -0.18% Days Range 44,804 - 44,134 Traded 235mn shares of Value: $ 52.8mn

UNITY   Unity Foods Limited: For HY ending Dec2021; EPS Rs. 1.09 (Rs. 1.87 last year) Revenue increased by 25%. Gross Profit increased by 42%. Financial charges doubled. UNITY had recently announced another Rights Issue. "Our bottom-line has been adversely affected by PKR 1,097.5 million which comprises of PKR 753.7 million realized exchange loss whereas the remaining PKR 343.7 million represents unrealized exchange loss. The Company faces risks or uncertainty primarily in two exogenous factors i.e. commodity prices and currency exchange rate movements as its operations are dependent upon import of oil seeds, edible oil and animal feed ingredients." Excerpt from Financial Report - Half year ended December 31, 2021. Download

KSE100 Index: Another day of strong performance. May be the push it requires to move out of the shadows.  44,804 +343 (0.77%) 

AKBL    Askari Bank Limited In FY 2021 'Investments' of Askari Bank increased over 36% over last year while 'Advances increased just by 20%. Consequently there was 2% decrease in 'Interest Earned' (Revenue). 'Interest Income' however increased by 5.8% due to lower 'Interest Expenses'. 'Provisions and Write offs' increased substantially over last year i.e. 24% of 'Profit before provisions' this year compared to less than 10% last year. Profit before Taxation declined by 11.9%. Download Annual Report FY21

SEARL  The Searle Company Limited "Sales for the half year increased by 6% over the same period last year. Gross profit margin of Company was maintained at 51% during the same period last year. Due to pandemic last year, operating expenses during same period were as low as 30% of the sales however, this year operating expense are 32% of sales." (excerpt from Directors Report Half Yearly Report 31Dec2021). Download  O ver 71% of non-current assets of SEARL are "Long Term Assets - subsidiaries"

 OGDC: Note on circular debt in recently released HY21 Financial Report.

News 1. Rare UN General Assembly session today to have say on Russia. link 2. SBP reviews home loan targets for banks. link

SITC   Sitara Chemical Industries Limited|   Transmitted  Quarterly Report for the Period Ended 31 December 2021.  Download here. OGDC :  Oil & Gas Development Company Limited |   Transmitted to PSX its Half Yearly Report for the period Ended December 31, 2021.  Download here . See Interesting note on circular debt (Note 14.1) As per the Report OGDCL's exploration acreage stood at 91,795 sq. km representing 41% of Country's total area under exploration. Average daily net saleable crude oil, gas and LPG production including share in both operated and non-operated JV fields in 1st Half of the Financial Year remained as follows: Oil 36,788 bpd, Gas 827  MMcf per day, LPG 827 Tons per day. KAPCO :  Kot Addu Power Company Limited |  Transmitted to PSX its Quarterly Report for the Period Ended December 31, 2021.  Download here . Auditors Note: The Generation License of the Company expired on September 21, 2021. The Power Purchase...

  KSE100 Index makes a substantial upward move after quite some time.  Recovery was quite broad based across all sectors. Total gain of over 830 points considering decline intraday. 44,461   +477 (1.08%)