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Express Tribune
7 days ago
- Business
- Express Tribune
PSX closes above 120,000 points for first time
Listen to article The Pakistan Stock Exchange (PSX) closed at a record high, with the KSE-100 index ending the day at 120,450.87, marking its first-ever close above 120,000 points. The market gained 1,573.07 points or 1.32%, reaching an intra-day high of 120,693.83 and a low of 119,129.51. Trading volume stood at 315,235,806 shares, with a total value of 20,897,236,653. The previous close was 118,877.80. Record-breaking bullish sentiment comes ahead of Pakistan's budget this month. Earlier on Monday, the KSE-100 index experienced significant volatility, with an intra-day high of 1,018 points and a low of 899 points, ultimately closing at 118,878, down by 813 points (0.68%). The decline was mainly attributed to concerns over proposed tax hikes on banking and saving schemes, additional petroleum levies, and rising inflation. The Consumer Price Index (CPI) increased by 3.5% year-on-year in May due to higher food prices, dampening market sentiment. Analysts, including Ahsan Mehanti of Arif Habib Corp, noted that the bearish market was driven by uncertainty ahead of the FY26 budget, geopolitical tensions, and fluctuations in the rupee. Topline Securities highlighted that selling pressure came from concerns about a potential 2-3% tax hike on passive income. While some stocks like Pakgen Power, National Foods, Meezan Bank, and National Bank of Pakistan supported the index, stocks like Systems Limited, Engro Holdings, and Pakistan Petroleum weighed it down. Trading volume decreased to 497.9 million shares from 580.3 million on the previous day. The market saw mixed performance, with 29 stocks rising, 71 falling, and 464 companies traded overall. Dewan Cement was the volume leader, while foreign investors sold shares worth Rs1.97 billion. Analysts are cautious, suggesting that the market may face continued pressure in the short term, but it could present a buying opportunity in certain sectors like cement, automobile, and fertilizers.
Business Recorder
25-04-2025
- Business
- Business Recorder
Geopolitical tensions trigger bloodbath
KARACHI: The Pakistan Stock Exchange (PSX) experienced a volatile trading session on Thursday, driven by heightened geopolitical tensions following the Pahalgam incident. The benchmark KSE-100 Index fell 2,206.33 points, or 1.88 percent to close at 115,020 points on Thursday compared to 117,226 points on Wednesday. The index remained on a downward trajectory, hitting an intraday low of 114,661.20 points. Trading volume at the ready counter also declined, falling to 605 million shares from 672 million shares in the previous session. On Thursday, BRIndex100 opened at 12,523.83 points and finally closed at 12,255.37 points, which was 268.46 points or 2.14 percent lower than previous close. Total volume at BRIndex100 was 434.369 million shares. BRIndex30 decreased by 937 points or 2.49 percent to settle at 36,723.14 points with a total volume of 282.049 million shares. Similarly, the total traded value on the ready counter fell to Rs 24.4 billion down from Rs 27.7 billion in the previous session. The market capitalization decreased by Rs 240 billion to Rs 14.100 trillion. Out of 456 active scrips, 83 closed in positive and 339 in negative while the value of 34 stocks remained unchanged. Ahsan Mehanti of Arif Habib Corp said that stocks fell across the board as investor fear Pak-India retaliation to India moves over occupied Kashmir attacks. Weak rupee, and concerns over deteriorating Pak-India trade ties and cross border tensions played catalyst role in bearish close at PSX, he added. Power Cement was the volume leader with 37.31 million shares and closed at Rs 14.45 followed by WorldCall Telecom that closed at Rs 1.31 with 31.22 million shares. Sui South Gas ranked third with share trading of 23.4 million shares and it closed at Rs 41.05. Unilever Pakistan Foods Limited and PIA Holding Company LimitedB the top gainers increasing by Rs 449.98 and Rs 263.83 respectively to close at Rs 23,392.71 and Rs 2,983.90, while Rafhan Maize Products Company Limited and Nestle Pakistan Limited were the top losers declining by Rs 145.00 and Rs 50.99 respectively to close at Rs 8,800.00 and Rs 6,998.00. According to JS Global the KSE-100 index dropped 1.9 percent amid rising geopolitical tensions which rattled investor confidence. Heightened selling pressure coincided with rollover week and results season fears, forcing cautious behavior. Despite a modest midday recovery, markets remained volatile. BR Automobile Assembler Index closed at 22,547.39 points, recording a decline of 282.14 points or 1.24 percent, with a total turnover of 5.78 million shares. BR Cement Index ended the day at 14,193.80 points, down by 251.56 points or 1.74 percent, with a trading volume of 76.78 million shares. BR Commercial Banks Index settled at 32,766.52 points, showing a drop of 648.54 points or 1.94 percent, and a total turnover of 50.80 million shares. BR Power Generation & Distribution Index closed at 19,571.24 points, falling by 349.46 points or 1.75 percent, with 31.11 million shares traded. BR Oil & Gas Index finished at 11,479.47 points, marking a loss of 224.18 points or 1.92 percent, on a turnover of 49.39 million shares. BR Technology & Communication Index ended the session at 4,695.77 points, with a decline of 111.67 points or 2.32 percent, and a total turnover of 58.78 million shares. According to Topline, The KSE-100 Index extended Wednesday's losses, remaining under pressure throughout the session. Weighed down by escalating regional tensions between India and Pakistan and the conclusion of futures rollover week, the market adopted a distinctly risk-off tone. The bulk of the negative contribution came from HUBC, ENGRO, MARI, BAHL, and UBL, which collectively shaved 605 points off the index. Despite the bearish backdrop, trading activity was led by PSO with a traded value of PKR 2.36 billion, followed by MLCF (PKR 2.06 billion), OGDC (PKR 1.78 billion), MARI (PKR 1.68 billion), and SNGP (PKR 1.63 billion), signalling selective interest in key names. On the corporate front, PAKT reported its 1QFY25 results with an EPS of Rs. 24.53—down 20% QoQ but up 22% YoY. The result came alongside a second interim dividend of Rs. 30/share, mirroring its earlier interim payout. In the cement space, FCCL posted a 3QFY25 EPS of Rs. 0.87, representing a 47 percent QoQ decline but a 21 percent YoY rise. The cumulative 9MFY25 EPS stood at Rs. 3.84, up 34 percent YoY, though earnings underwhelmed due to higher finance costs and subdued gross margins. Copyright Business Recorder, 2025
Business Recorder
23-04-2025
- Business
- Business Recorder
Slight uptick in index
KARACHI: The Pakistan Stock Exchange (PSX) closed on a positive note Tuesday, with a slight uptick in the benchmark index driven by strong corporate earnings. The benchmark KSE-100 Index slightly increased by 47 points, or 0.04 percent, closing at 118,430 points on Tuesday up from 118,383 points on Monday. The daily volume at the ready counter rose significantly from 672 million shares in the previous session to 741 million shares. On Tuesday, BRIndex100 declined by 26.39 points or 0.21 percent to settle at 12,702.21 points with a total volume of 655 million shares. BRIndex30 closed at 38,139.05 points, which was 118.54 points or 0.31 percent lower than previous close. Total volume at BRIndex30 was 454.6 million shares. Similarly, the total traded value on the ready counter surged to Rs 30 billion compared to Rs 36.42 billion in the previous session. The market capitalization decreased by Rs 20 billion to Rs 14.444 trillion. Out of 451 active scrips, 214 closed in positive and 196 in negative while the value of 41 stocks remained unchanged. Ahsan Mehanti of Arif Habib Corp said stocks closed flat in late session pressure amid bearish trend in global equities, weak rupee and falling global crude oil prices. Strong financial results supported the index. Reports of expected SBP policy easing, govt's resolve over US tariff issues and release of IMF support tranche next month played catalyst role in positive close at PSX, he added. Bank of Punjab was the volume leader with 116.6 million shares and closed at Rs 10.45 followed by Power Cement closed at Rs 14.26 with 68 million shares. Pak Int Bulk ranked third with share trading of 59 million shares and it closed at Rs 9.92. PIA Holding Company Limited and Hoechst Pakistan Limited remained the top gainers increasing by Rs 224.80 and Rs 146.20 respectively to close at Rs 2,472.79 and Rs 3,158.50, while Pakistan Tobacco Company Limited and Supernet Technologies Limited were the top losers declining by Rs 47.93 and Rs 44.00 respectively to close at Rs 1,214.17 and Rs 748.24. Analysts at Topline said that investors' sentiment was buoyed by corporate results announced during today's session, although overall activity remained subdued due to cautious trends in international markets. The index's performance was largely supported by stocks such as FFC, ENGROH, HMB, AGP, and ATLH, which collectively contributed 733 points. Investor's participation remained strong, with 740 million shares traded and total market turnover reaching Rs 30 billion. BOP emerged as the volume leader, with 116 million shares exchanged. BR Automobile Assembler Index closed at 23,128.13 points, recording a gain of 122.41 points or 0.53 percent, with a total turnover of 5.60 million. BR Cement Index ended the session at 14,519.74 points, down 44.94 points or 0.31 percent, with a total turnover of 107.65 million. BR Commercial Banks' Index fell by 564.49 points or 1.64 percent, closing at 33,902.96 points, with a turnover of 143.64 million. BR Power Generation & Distribution Index edged up by 15.61 points or 0.08 percent, finishing at 20,328.28 points, with a total turnover of 20.79 million. BR Oil & Gas Index posted a minor decline of 4.4 points or 0.04 percent, closing at 11,802.06 points, with a turnover of 46.26 million. BR Technology & Communication Index advanced 29.9 points or 0.62 percent, ending the day at 4,869.18 points, with a total turnover of 50.72 million. According to JS Global, the KSE100 index up 47 points DoD, driven by robust corporate earnings and heightened investor confidence. Strong quarterly results and anticipations of favourable monetary policy adjustments including measures to ease debt tensions supported increased trading volumes and broad-based buying, he added. He said that this positive momentum suggests that if economic fundamentals and earnings continue to impress, the market could sustain its upward trajectory, offering an encouraging outlook for future trading sessions. Investors remain cautious lyoptimistic about upcoming fiscal developments. Copyright Business Recorder, 2025
