PSX ends flat after touching 140,000
The Pakistan Stock Exchange (PSX) ended Friday's session on a flat note despite strong early gains as investors opted for profit-taking after the KSE-100 index touched a record intra-day high of 140,585 points. The index closed just shy of 138,600, with momentum briefly driven by institutional buying before fading in the latter half.
The session was buoyed by positive macroeconomic news as Pakistan posted a current account surplus of $2.1 billion in FY25 – the highest in over two decades – largely driven by record remittances and IT exports. Analysts expect market momentum to continue amid potential of strong earnings and hopes of monetary easing, though short-term corrections may occur as valuations stretch and investors await clarity on the central bank's next move.
"Stocks closed flat on institutional profit-taking in overbought shares amid foreign outflows and worries over the outcome of trade bodies' strike call against budgetary measures and taxmen powers," noted Arif Habib Corp MD Ahsan Mehanti.
Reports of $23 billion in external debt repayments due in FY26 and rupee fluctuations drove bearish activity at the PSX, he added.
At the end of trading, the benchmark KSE-100 index posted a decline of 68.14 points, or 0.05%, and settled at 138,597.36.
Arif Habib Limited (AHL) said that the market remained flat, after briefly touching the 140,000 level during intra-day trading. Out of the actively traded stocks, 26 advanced while 73 declined. Major contributors to the index's gains included Fauji Fertiliser Company (FFC) (+4.13%), UBL (+2.3%) and Engro Holdings (+1.65%). On the flip side, Systems Ltd (-2%), Meezan Bank (-1.4%) and Hubco (-1.5%) were the major drags, it said.
In terms of macroeconomic developments, Pakistan posted a current account surplus of $2.1 billion in FY25, the highest in over two decades. Looking ahead, the index shows upside potential towards 140,500, with support levels now placed in the 137,200-138,200 range, AHL added.
Topline Securities' market review stated that the KSE-100 index opened on a positive note and rose to intra-day high of +1,920 points on buying by local institutions. However, profit-taking was observed in the second half of the trading session as investors came in to book profit before weekend.
The top positive contribution to the index came from FFC, UBL, Engro Holdings, Pakistan Services, Pakistan Aluminium Beverage Cans and Engro Fertilisers as they cumulatively contributed +1,052 points. On the other hand, Systems Ltd, Meezan Bank, Hubco, NBP and Mari Petroleum pulled the index down by 345 points.
Muhammad Hasan Ather of JS Global noted that the benchmark KSE-100 index closed flat. Investors booked profits following a record-breaking rally as the index touched intra-day high of 140,585 points.
Sentiment remained buoyant on expectations of strong corporate earnings and potential monetary easing, supported by the finance minister's dovish comments. Looking ahead, market momentum is likely to persist through earnings season, though intermittent profit-taking may emerge as valuations stretch and investors await clarity on the State Bank's policy move, Ather added.
Overall trading volumes were recorded at 609.4 million shares, compared with the previous day's tally of 780 million. The value of shares traded was Rs31.6 billion.
Shares of 478 companies were traded. Of these, 120 stocks closed higher, 331 fell and 27 remained unchanged.
Pakistan International Bulk Terminal was the volume leader with trading in 53.1 million shares, gaining Rs0.05 to close at Rs10.14. It was followed by First Dawood Properties with 42 million shares, losing Rs0.07 to close at Rs6.93 and Ghani Chemworld with 31.8 million shares, gaining Rs0.20 to close at Rs13.41.
Foreign investors were buyers of shares worth a net Rs267.8 million, the National Clearing Company reported.
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Express Tribune
7 hours ago
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Bourse hits record close near 140k
Listen to article The Pakistan Stock Exchange (PSX) rallied 4,298 points (+3.2% week-on-week) and closed at 138,597, driven by broad-based buying and positive macro developments. The current account recorded a $2.1 billion surplus in FY25, the highest in 22 years, aided by strong remittances. The State Bank of Pakistan's (SBP) foreign currency reserves rose to $14.5 billion, while the Pakistani rupee slipped slightly to 284.87 against the dollar. Gains at the PSX were led by Fauji Fertiliser Company (FFC) and United Bank Limited (UBL) as sentiment improved following Pakistan's engagement with Moody's and the unveiling of a new tariff policy. Sector-specific highlights included a 20% year-on-year (YoY) jump in auto financing and a 2.3% rise in large-scale manufacturing (LSM) output in May. With the market trading at attractive valuations and earnings season underway, investors remain upbeat. On a day-on-day basis, the PSX continued its northbound journey on Monday, with the benchmark KSE-100 index surging 2,203 points to close at an all-time high of 136,502, buoyed by the IMF resident representative's upbeat comments that termed Pakistan's economic recovery "strong so far." However, the market witnessed a day of consolidation on Tuesday, when the index oscillated frequently before closing at 135,940, down 563 points. The consolidation continued on Wednesday as the KSE-100 ended the session at 136,380, up 440 points, after fluctuating in both directions. Bulls returned on Thursday with strength as the bourse surged 2,285 points, driven by robust institutional inflows and investor optimism. Fertiliser stocks led the rally. The PSX ended the week on a volatile note on Friday, with the index briefly crossing the 140,000 mark before slipping to intra-day low of 138,344 (down 322 points). However, it managed to recover and closed almost flat at 138,597, losing just 68 points. Arif Habib Limited (AHL) noted that despite some profit-taking during the week, the market maintained its upward momentum, during which the index climbed from 134,299.8 to 138,597.4. This translated into a strong weekly gain of 4,298 points, or 3.2%. The rally was fueled by broad-based buying across sectors, supported by stabilising macroeconomic indicators. Among the key developments, AHL said, Pakistan's economic team met with Moody's to highlight the improving fundamentals and reaffirm the country's commitment to fiscal reforms. The government also unveiled the National Tariff Policy 2025-30, aimed at rationalising tariffs and enhancing export competitiveness. In sector-specific updates, auto financing increased 20% YoY to Rs277 billion in June 2025, up from Rs231 billion in June 2024. On a month-on-month (MoM) basis, it rose 2%. The LSM index grew 2.3% YoY during May 2025 and surged 7.9% MoM. During 11MFY25, the LSM output decreased 1.2% YoY. Pakistan's current account surplus reached $2.106 billion in FY25, an improvement from the deficit of $2.072 billion during the same period of last year. This marks the highest surplus in 22 years. Meanwhile, the SBP's foreign exchange reserves rose $23 million to $14.5 billion — the highest since March 18, 2022. Pakistani rupee weakened 41 paisa WoW to 284.87 against the dollar, AHL added. JS Global observed that the KSE-100 index extended its bullish run during the outgoing week, gaining 4,298 points, or 3.2% WoW, to close at 138,597. However, average daily turnover declined 20%. The significant surge in the index was primarily driven by FFC (+1,821 points) and UBL (+1,165 points). Sentiment remained positive as the IMF expressed satisfaction with Pakistan's economic progress and structural reform efforts, JS said. Among major news, Pakistan has to repay $23 billion in external debt in the current fiscal year, of which some of the debt is expected to be rolled over by friendly countries. Additionally, the government aims to finalise the privatisation of PIA within two to three months, while Expressions of Interest (EOIs) for Roosevelt Hotel, New York will be invited in August. In the latest Pakistan Investment Bonds (PIBs) auction, Rs342 billion was raised against the target of Rs300 billion, with yields dropping 30-54 basis points across different tenors, JS added in its report.
Express Tribune
a day ago
- Express Tribune
PSX ends flat after touching 140,000
Listen to article The Pakistan Stock Exchange (PSX) ended Friday's session on a flat note despite strong early gains as investors opted for profit-taking after the KSE-100 index touched a record intra-day high of 140,585 points. The index closed just shy of 138,600, with momentum briefly driven by institutional buying before fading in the latter half. The session was buoyed by positive macroeconomic news as Pakistan posted a current account surplus of $2.1 billion in FY25 – the highest in over two decades – largely driven by record remittances and IT exports. Analysts expect market momentum to continue amid potential of strong earnings and hopes of monetary easing, though short-term corrections may occur as valuations stretch and investors await clarity on the central bank's next move. "Stocks closed flat on institutional profit-taking in overbought shares amid foreign outflows and worries over the outcome of trade bodies' strike call against budgetary measures and taxmen powers," noted Arif Habib Corp MD Ahsan Mehanti. Reports of $23 billion in external debt repayments due in FY26 and rupee fluctuations drove bearish activity at the PSX, he added. At the end of trading, the benchmark KSE-100 index posted a decline of 68.14 points, or 0.05%, and settled at 138,597.36. Arif Habib Limited (AHL) said that the market remained flat, after briefly touching the 140,000 level during intra-day trading. Out of the actively traded stocks, 26 advanced while 73 declined. Major contributors to the index's gains included Fauji Fertiliser Company (FFC) (+4.13%), UBL (+2.3%) and Engro Holdings (+1.65%). On the flip side, Systems Ltd (-2%), Meezan Bank (-1.4%) and Hubco (-1.5%) were the major drags, it said. In terms of macroeconomic developments, Pakistan posted a current account surplus of $2.1 billion in FY25, the highest in over two decades. Looking ahead, the index shows upside potential towards 140,500, with support levels now placed in the 137,200-138,200 range, AHL added. Topline Securities' market review stated that the KSE-100 index opened on a positive note and rose to intra-day high of +1,920 points on buying by local institutions. However, profit-taking was observed in the second half of the trading session as investors came in to book profit before weekend. The top positive contribution to the index came from FFC, UBL, Engro Holdings, Pakistan Services, Pakistan Aluminium Beverage Cans and Engro Fertilisers as they cumulatively contributed +1,052 points. On the other hand, Systems Ltd, Meezan Bank, Hubco, NBP and Mari Petroleum pulled the index down by 345 points. Muhammad Hasan Ather of JS Global noted that the benchmark KSE-100 index closed flat. Investors booked profits following a record-breaking rally as the index touched intra-day high of 140,585 points. Sentiment remained buoyant on expectations of strong corporate earnings and potential monetary easing, supported by the finance minister's dovish comments. Looking ahead, market momentum is likely to persist through earnings season, though intermittent profit-taking may emerge as valuations stretch and investors await clarity on the State Bank's policy move, Ather added. Overall trading volumes were recorded at 609.4 million shares, compared with the previous day's tally of 780 million. The value of shares traded was Rs31.6 billion. Shares of 478 companies were traded. Of these, 120 stocks closed higher, 331 fell and 27 remained unchanged. Pakistan International Bulk Terminal was the volume leader with trading in 53.1 million shares, gaining Rs0.05 to close at Rs10.14. It was followed by First Dawood Properties with 42 million shares, losing Rs0.07 to close at Rs6.93 and Ghani Chemworld with 31.8 million shares, gaining Rs0.20 to close at Rs13.41. Foreign investors were buyers of shares worth a net Rs267.8 million, the National Clearing Company reported.
Business Recorder
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C/A posts surplus of over $2bn after 14 years
KARACHI: Pakistan's current account balance recorded a surplus of over 2 billion dollars in the last fiscal year (FY25) for the first time in 14 years, driven by a substantial increase in workers' remittances. The State Bank of Pakistan (SBP) on Friday reported that Pakistan has achieved a current account surplus of $2.1 billion in FY25 as against a deficit of $2.1 billion in the previous year (FY24). Khurram Schehzad, Advisor to the finance minister, has said that annual current account surplus has been recorded after a gap of 14 years, and the largest surplus in 22 years. He termed it a key development on the external front of Pakistan's economy, adding that the overall economic performance is encouraging and the country is on the right track due to appropriate policy measures. Monthly basis, the current account balance for the last month (June) of FY25 also posted a surplus of $328 million, compared to deficit of $500 million in June 2024. In addition, current statistics of June 2025 are also better than May 2025, in which the country posted $84 million deficit. Economists attribute this improvement to robust policy measures and consistent efforts by the federal government and the SBP to strengthen the external account and channel remittances through formal avenues. They said that all time high inflows of remittances is the major factor was behind the current account surplus in the last fiscal year. 'The remarkable shift was primarily fuelled by a sharp rise in workers' remittances, which provided crucial support to the external account,' they added. In a historic economic milestone, with a significant 27 percent growth, Pakistan recorded its highest-ever home remittance inflows, exceeding $38 billion during the last fiscal year FY25. According to SBP, Pakistan's trade deficit widened by $4.6 billion to $26.78 billion in FY25, compared to $22.18 billion in FY24. The increase was primarily driven by a higher import bill amid a pickup in economic activity. During the period under review, import bill increased by 11 percent to $59 billion from $53 billion. Exports also posted 4 percent or $1.295 billion growth to reach $32.295 billion in FY25 from $31 billion in FY24. Khurram Schehzad said that Real Effective Exchange Rate (REER) index has also dropped further to 96.6, rendering PKR more competitive against US$, which should support country's exports and keep external account in check. In addition, Pakistan Stock Market continues to be in the top Global rankings, currently 4th best globally Jul-25 to date, he said and added that on Friday Pakistan Equities Market (KSE-100) also crossed 140,000 points during the intraday trading, making a historic mark in its history, with market value crossing Rs 16.8 trillion (close to $60bn). Copyright Business Recorder, 2025
