
PSX hits record over army chief's support for businesses
The government's success in securing a majority in Senate elections, optimism surrounding the State Bank of Pakistan's (SBP) expected monetary easing and forecasts of robust corporate earnings further reinforced the market rally.
The benchmark KSE-100 index soared to intra-day high of 1,684 points, before settling at 139,419.62, an increase of 1,202.03 points, or 0.87%.
Market Snapshot – July 22, 2025
Unlock today's market moves and stay one step ahead! pic.twitter.com/lZ1Hz7qJ59
— PSX (@pakstockexgltd) July 22, 2025
According to Ahsan Mehanti of Arif Habib Corp, stocks traded at a new all-time high, after business leaders met with army chief and were assured of the military's support for economic progress.
Additionally, the government won a majority in Senate seats, further bolstering bullish sentiment.
Speculation about the SBP's anticipated policy easing next week, alongside expectations of strong financial results and annual payouts in the earnings season, fuelled the bullish activity at the PSX, he added.
In its market review, Topline Securities commented that bulls roared back to life in Tuesday's trading session, lifting the benchmark index to impressive levels. The index surged to intra-day high of 1,684 points, before closing at 139,420, reflecting a solid gain of 1,202 points.
The rally was fuelled by positive investor sentiment and renewed market confidence as the index moved upwards ahead of the anticipated announcement of strong corporate results. This wave of optimism helped paint a bullish picture across the board, setting the tone for a potentially upbeat week ahead, Topline said.
Overall trading volumes increased to 629 million shares compared with Monday's tally of 608.2 million. Traded value stood at Rs34.7 billion.
Shares of 478 companies were traded. Of these, 268 stocks closed higher, 178 fell and 32 remained unchanged. First Dawood Properties was the volume leader with trading in 44.1 million shares, gaining one rupee to close at Rs7.64 per share.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
5 hours ago
- Business Recorder
Pakistan govt decides to continue remittance incentive scheme
Pakistan Prime Minister Shehbaz Sharif decided on Saturday to continue the remittance incentive scheme, directing the Ministry of Finance to immediately release funds on a priority basis for the Workers' Remittances Incentive Scheme, a statement from the Prime Minister's Office (PMO) read. The development comes a few weeks after State Bank of Pakistan's (SBP) Dr Inayat Hussain reportedly cautioned that the government's decision to curtail subsidies for promoting foreign remittances, which hit a record $38 billion in F2024-25, might reduce the flow through banking channels. 'Overseas Pakistanis are our strength and a valuable asset of the country,' PM Shehbaz was quoted as saying the PMO statement on Saturday. SBP revises Telegraphic Transfer charges scheme, raises limit to $200, includes ECs 'The hard-earned remittances sent by overseas Pakistanis play a vital role in Pakistan's development, and I, along with the entire nation, deeply value their contribution. 'These remittances not only helped in covering the rising import bill but also contributed to the increase in foreign exchange reserves,' he said. 'We are removing obstacles in the way of remittances sent by hardworking overseas Pakistanis and making the system more effective, efficient, and user-friendly.' The inflow of overseas workers' remittances into Pakistan stood at $38.3 billion in fiscal year 2024-25, the highest-ever in the country's history, the SBP data showed. Remittances increased by 27% year over year, compared to $30.25 billion recorded in the previous fiscal. Home remittances play a significant role in supporting the country's external account, stimulating Pakistan's economic activity as well as supplementing the disposable incomes of remittance-dependent households.


Business Recorder
19 hours ago
- Business Recorder
NA body orders urgent steps to end BISP staffing crisis
ISLAMABAD: The National Assembly Standing Committee on Poverty Alleviation and Social Safety ordered immediate action to resolve the Benazir Income Support Programme (BISP)'s staffing crisis, directing the Poverty Alleviation Ministry to urgently engage the Finance Ministry and lift the recruitment freeze hampering welfare operations. The committee ordered immediate action to resolve BISP's staffing crisis, directing the Poverty Alleviation Ministry to urgently engage the Finance Ministry and lift the recruitment freeze hampering welfare operations. The committee also expressed serious concern over the continuously resistance from commercial banks in opening accounts for beneficiaries, with Private Financial Institutions (PFIs) demonstrating marked preference for their conventional clients over welfare recipients. The committee met with Mir Ghulam Ali Talpur in the chair at the Parliament house on Friday. The committee was told that the BISP is facing a staffing crisis of a shortage of personnel at various levels. This shortage is impacting the programme's ability to effectively serve beneficiaries and manage its operations, leading to concerns about service delivery and potential hardships for those relying on BISP's assistance The secretary Ministry of Poverty Alleviation and Social Safety confirmed to the Committee that a draft National Poverty Alleviation Policy is ready for and they are currently awaiting provincial governments' feedback, with a federal-provincial Poverty Alleviation Coordination Council to be established upon final approval. Presiding over a contentious review of Pakistan's welfare system, Mir Ghulam Ali Talpur led committee members in exposing banking sector roadblocks to BISP implementation while demanding urgent reforms to protect vulnerable beneficiaries. The meeting commenced with an acknowledgment of the ministry's compliance with the committee direction from previous proceedings, while members expressed concerns regarding incomplete responses in the submitted compliance report, particularly concerning State Bank of Pakistan (SBP) and demanded that Ministry to take up this matter with SBP. In response, the secretary BISP provided detailed dual-track solution involving simultaneous physical BISP Sahulat and digital wallet account initiatives. He said that the physical account pilot would commence in Karachi on August 14, symbolically aligning with Independence Day to emphasise country's downtrodden women financial emancipation. He said that concurrently, a digital account system will utilise biometric verification (BVS) through CNIC-linked mobile SIMs, mandated by recent SBP policy reforms. Both pilots will operate for six months, with comprehensive evaluations expected by January 2026. The committee emphasised the necessity of beneficiary orientation programmes, particularly, in underserved regions, to ensure effective adoption of these financial mechanisms. The committee raised questions regarding BISP's role in addressing the humanitarian crisis following recent building collapse in Karachi that left numerous poor women homeless. The secretary Ministry Poverty Alleviation and Social Safety and BISP clarified constitutional limitations, noting that housing and shelter interventions fall under provincial jurisdiction. The BISP advertisement budgetary transparency emerged as another critical discussion point, with committee members demanding detailed expenditure reports for BISP's media campaigns for the FY 2024-25 and current FY 2025-26, having found initial submissions insufficiently comprehensive. Operational challenges received considerable attention, including measures to address disbursement delays through enhanced two-factor authentication at payment campsites. Contractual enforcement emerged as a key concern, with the committee noting the termination of Habib Bank Limited's contract due to non-compliance and plans for similar and even more stricter penalties against such underperforming contracting private banks. The committee members also highlighted the outdated nature of the 2019 Multidimensional Poverty Index (MPI) data shared by Ministry of Planning Development and Special Initiatives, directing them to produce updated and comparative analysis of the metrics in the next meeting. The committee was informed by the Pakistan Poverty Alleviation Fund (PPAF) about their foreign-funded projects worth Rs11.7 billion that are currently operating across 253 union councils, covering diverse initiatives from livestock value chains to micro-hydel and nutritional programmes. It is pertaining to mention here that the projects are focusing on poverty reduction and sustainable development in Pakistan. These projects, supported by organizations like the European Union and the Kreditanstalt für Wiederaufbau(KfW), target diverse areas such as agriculture, rural development, and access to energy. The Kfw is a German state-owned development bank, originally established after World War II. The KfW supports various development goals, including those related to climate action, energy efficiency, and sustainable development. The committee was briefed on the continuation of the National Poverty Graduation Programme with new donor agency, now expanded to include five additional districts alongside the original twenty, though procedural issues have temporarily excluded it from PSDP allocations. This comprehensive session underscored the committee's commitment to rigorous oversight of social safety initiatives while highlighting both institutional progress and systemic challenges requiring continued attention. Copyright Business Recorder, 2025


Express Tribune
19 hours ago
- Express Tribune
Senators decry judicial overreach
A 12-member panel, headed by Adviser to PM on NHLH Irfan Siddiqui, was constituted by PM. PHOTO: FILE Listen to article The Senate on Friday took exception to the Islamabad High Court's (IHC) move to issue stay orders on matters under discussion in parliamentary committees. Terming it a serious breach of privilege, the lawmakers called for the matter to be referred to the Senate's Committee on Rules of Procedure and Privileges. They also urged that the attorney general be summoned to explain the judiciary's overreach into parliamentary affairs. During the session, chaired by Senator Irfan Siddiqui, Senator Saleem Mandviwalla of the Pakistan Peoples Party (PPP) objected to the stay orders issued by the IHC and Lahore High Court (LHC) against upper house proceedings. "I have never seen stay orders against parliamentary proceedings before. This should be taken seriously," he said, urging the Senate to summon the attorney general. "We never interfere in court proceedings, but judges issuing stay orders against committee actions is direct interference in Parliament. It's becoming a joke." Shahadat Awan supported the call. "We will seek input from the law minister and summon the attorney general for clarification and action." Senator Anusha Rehman said such actions violated Article 66 of the Constitution and constituted a breach of privilege. "Issuing a stay order against a member of Parliament is a direct attack on their privilege," she said, urging the House to refer the matter to the privileges committee and have those responsible appear before it. "No one can stop us from speaking in this House," she added. Senator Kamran Murtaza expressed concern over reports of lawyers being picked up in Balochistan. "If someone has committed a crime, they should be punished under the law," he said. The Presiding Officer responded that a report on the matter would be sought.