AVN 49.16 Decreased By ▼ -1.69 (-3.32%)
BAFL 28.59 Decreased By ▼ -0.27 (-0.94%)
BOP 3.64 Decreased By ▼ -0.06 (-1.62%)
CNERGY 3.26 Decreased By ▼ -0.05 (-1.51%)
DFML 10.78 Decreased By ▼ -0.22 (-2%)
DGKC 52.03 Decreased By ▼ -1.09 (-2.05%)
EPCL 43.62 Decreased By ▼ -0.39 (-0.89%)
FCCL 12.47 Decreased By ▼ -0.13 (-1.03%)
FFL 6.19 Decreased By ▼ -0.08 (-1.28%)
FLYNG 5.95 Decreased By ▼ -0.13 (-2.14%)
GGL 10.32 Decreased By ▼ -0.38 (-3.55%)
HUBC 68.66 Decreased By ▼ -0.04 (-0.06%)
HUMNL 5.81 Decreased By ▼ -0.19 (-3.17%)
KAPCO 22.61 Decreased By ▼ -0.29 (-1.27%)
KEL 1.83 Decreased By ▼ -0.03 (-1.61%)
LOTCHEM 28.98 Decreased By ▼ -0.54 (-1.83%)
MLCF 28.57 Decreased By ▼ -0.38 (-1.31%)
NETSOL 76.79 Decreased By ▼ -3.54 (-4.41%)
OGDC 78.62 Decreased By ▼ -0.28 (-0.35%)
PAEL 9.72 Decreased By ▼ -0.18 (-1.82%)
PIBTL 4.19 Decreased By ▼ -0.14 (-3.23%)
PPL 60.54 Decreased By ▼ -0.74 (-1.21%)
PRL 14.47 Decreased By ▼ -0.27 (-1.83%)
SILK 1.05 Decreased By ▼ -0.02 (-1.87%)
SNGP 42.44 Decreased By ▼ -0.26 (-0.61%)
TELE 7.07 Decreased By ▼ -0.25 (-3.42%)
TPLP 12.83 Decreased By ▼ -0.14 (-1.08%)
TRG 96.42 Decreased By ▼ -4.01 (-3.99%)
UNITY 15.16 Increased By ▲ 0.66 (4.55%)
WTL 1.18 Decreased By ▼ -0.03 (-2.48%)
BR100 4,160 Decreased By -51.8 (-1.23%)
BR30 14,407 Decreased By -198.1 (-1.36%)
KSE100 41,686 Decreased By -456.3 (-1.08%)
KSE30 14,742 Decreased By -200.9 (-1.34%)
Follow us

The Pakistan Stock Exchange (PSX) faced the effects of international and domestic economic disruptions, with the value or market capitalisation of all its listed companies registering a drop of 17% (in rupee terms) to clock in at Rs6.4 trillion.

The decline was more severe when seen in context of the US dollar, as market capitalisation plummeted 35% to reach $28 billion, said Topline Securities in a report on Saturday.

However, despite the volatility, certain sectors at the PSX registered significant growth during 2022, found the brokerage house.

Capital market in 2023: Low PE will continue due to external debt, political noise: Topline

As per the report, Real Estate Investment Trust (REIT), synthetic & rayon, and sugar were the top-performing sectors in 2022 as their market capitalisation increased by 12%, 6% and 5%, respectively, despite poor market conditions.

- Top-performing stocks of the year (based on adjusted prices)

  • Lotte Chemical (LOTCHEM) with gain of 117%

  • Faysal Bank (FABL) with gain of 35%

  • Unilever Pakistan Foods (UPFL) with gain of 34%

  • Systems Limited (SYS) with gain of 31%

  • Pakistan Oilfields (POL) with gain of 31%

Moreover, technology sector was up 2% and outperformed the market despite a fall in globally listed technology stocks.

“REIT sector that has only one listed company gained in 2022 due to stable dividend yield coupled with changes in regulations on REIT investment for banks,” said Topline Securities. “To recall, the State Bank of Pakistan (SBP) recently allowed banks to count their investments in shares issued by REIT towards the achievement of housing and construction finance targets.”

Meanwhile, synthetic & rayon also posted strong performances, led by a rally in Ibrahim Fiber Limited (IBFL). The sugar sector’s performance was led by JDW Sugar Mills (JDWS), which announced a buyback.

On the other hand, the report found engineering, automobile parts, and miscellaneous sectors among the worst-performing sectors posting a decline in market capitalisation of 45%, 41% and 34%, respectively, in 2022.

- Worst-performing stocks of the year (based on adjusted prices)

  • Air Link Communication Limited (AIRLINK) with loss of 54%

  • Gul Ahmed Textile Mills Limited (GATM) with loss of 52%

  • The Searle Company Limited (SEARL) with loss of 52%

  • Mughal Iron & Steel Industries Limited (MUGHAL) with loss of 50%

  • Unity Foods Limited (UNITY) with loss of 46%

In stark contrast to 2021, PSX sees a meagre 3 IPOs this year

“Engineering sector (mainly steel-related companies companies) was badly impacted due to economic slowdown and lower construction activity.

“Automobile parts sector also remained among worst-performing sectors primarily due to import restrictions, high financing rates and demand slowdown,” it said.

Among companies, Topline found Lotte Chemical (LOTCHEM) as the top-performing stock in the market in 2022, where the stock gained 117%.

“Investors were excited over potential sell-off by Lotte Chemical Corporation South Korea (a parent company of LOTCHEM) and subsequent public offer for minority shareholders,” it said.

LOTCHEM was followed by Faysal Bank (FABL) and Unilever Pakistan Foods (UPFL), showing a stock growth of 35% and 34%, respectively.

“The strong stock performance by FABL is on the announcement to convert into an Islamic Bank followed by a special dividend. Similarly, UPFL stock was up 34% as the company posted strong profitability growth of 33% YoY in 9M2022.

It’s been quiet at PSX, but its CEO is upbeat

On the other hand, Air Link Communication (AIRLINK) shares were the worst-performing scrips in 2022, as its stock value plummeted 54% due to low profits led by lower volumetric sales.

“Gul Ahmed Textile Mills (GATM) also reported a decline of 52% amid a slowdown in textile exports.

“Searle Company Limited (SEARLE) was down 52% due to lower profits, led by falling gross margins driven by a significant jump in raw material cost and company’s inability to immediately pass full impact on to consumers,” said Topline.

Also read:


1000 characters
Haroon Dec 25, 2022 03:52pm
I dont think this is accurate. For one, PNSC has been one of the biggest gainers with some 80% return. HBL is down 47%, a couple of cement companies are also down some 46 to 50%
thumb_up Recommended (0) reply Reply

PSX: the best and worst performers of 2022

Flanked by PTI defectors, Jahangir Tareen launches Istehkam-e-Pakistan party

Pakistan has to satisfy IMF on three counts including budget ‘consistent with programme objectives’

KSE-100 plunges over 450 points amid uncertainty on upcoming budget

Inter-bank: rupee ends losing streak with marginal gain against US dollar

Open-market: US dollar strengthens as demand surges

TAPI Pipeline: Pakistan and Turkmenistan sign implementation plan

APTMA urges Dar to reinstate competitive energy tariffs

Oil rises as Saudi cut supports and focus turns to Fed

At US request, Pakistan grants detained designer Khadija Shah consular access

Ali Muhammad Khan re-arrested outside Peshawar jail