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Business Recorder
05-05-2025
- Business
- Business Recorder
PSX edges lower
KARACHI: The Pakistan Stock Exchange (PSX) closed nearly unchanged on Monday, amid ongoing geopolitical tensions between Pakistan and India. The benchmark KSE-100 Index slightly decreased by 11.70 points to close at 114,102 points on Monday, down from 114,114 points in the previous session. The market opened on a negative note and remained under pressure, hitting an intraday high of 114,552.21 points and low of 113,077.67 points. Analysts said the benchmark index was quite volatile during session, falling by 1,036 points in early trading. However, it made a strong recovery in the second half, mainly supported by the cement sector, as investors expected a possible rate cut in the monetary policy announcement made. On Monday, BRIndex100 increased by 4.04 points to settle at 12,148.85 points with total share volume of 336 million. BRIndex30 gained 53.22 points or 0.15 percent to closed at 35,394.09 points with total volume of 229 million shares. Trading volume at the ready counter increased to 390 million shares, up from 372 million shares in the previous session. Similarly, the total traded value on the ready counter declined to Rs 20 billion compared to Rs 23.28 billion in the previous session. The market capitalization slightly increased by Rs 14 billion to Rs 13.822 trillion. Out of 452 active scrips, 240 closed in positive and 155 in negative while the value of 57 stocks remained unchanged. Power Cement was the volume leader with 41 million shares and closed at Rs 14.91 followed by WorldCall Telecom that closed at Rs 1.34 with 23.8 million shares. Maple Leaf ranked third with share trading of 23.5 million shares and it closed at Rs 71.60. PIA Holding Company LimitedB and Nestle Pakistan Limited the top gainers increasing by Rs 480.30 and Rs 288.09 respectively to close at Rs 5,283.26 and Rs 7,190.36, while Atlas Honda Limited and Bata Pakistan Limited were the top losers declining by Rs 25.19 and Rs 15.29, respectively to close at Rs 1,150.36 and Rs 1,564.71. BR Automobile Assembler Index closed at 22,343.12 points, recording a net gain of 285.29 points or 1.29 percent, with a total turnover of 4.58 million shares. The BR Cement Index ended the session at 9,669.29 points, up by 262.67 points or 2.79 percent, with a robust turnover of 120.65 million shares. BR Commercial Banks Index closed at 33,351.57 points, posting a decline of 327.43 points or 0.97 percent, with a total turnover of 25.81 million shares. BR Power Generation and Distribution Index settled at 19,152.52 points, down by 122.96 points or 0.64 percent, on a turnover of 20.89 million shares. The BR Oil and Gas Index finished at 11,007.54 points, losing 62.04 points or 0.56 percent, with a total turnover of 56.40 million shares. BR Technology & Communication Index closed at 4,827.83 points, down by 11.94 points or 0.25 percent, with a turnover of 38.33 million shares. Analysts at Chase Securities said that despite no escalation on both sides, tension between Pakistan and India is remains high, and rumors of the US changing travel advisories for India and Pakistan are affecting market sentiment. Anticipation of rate cut move spurred activity in cyclical stocks, particularly in the cement sector, where highly leveraged names like DGKC and Power Cement led the rally with gains of 4-7 percent. 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
Business Recorder
22-04-2025
- Business
- Business Recorder
Bulls assert dominance
KARACHI: Sentiment at the Pakistan Stock Exchange (PSX) remained positive on Monday, largely driven by better-than-expected corporate earnings. The benchmark KSE-100 Index gained 1,068 points, or 0.91 percent, closing at 118,383.38 points on Monday compared to 117,315.59 points on Friday. The daily volume at the ready counter rose to 672 million shares as against 425 million shares in the previous session. On Monday, BRIndex100 opened at 12,580.53 points and closed at 12,702.21 points, which was 121.68 points or 0.97 percent higher than previous close. Total volume at BRIndex100 was 590 million shares. BRIndex30 increased by 345.79 points or 0.91 percent to close at 38,257.59 points with a total volume of 431 million shares. Similarly, the total traded value on the ready counter surged to Rs 36.42 billion up from Rs 34.49 billion. The market capitalization increased by Rs 119 billion to Rs 14.464 trillion. Out of 451 active scrips, 252 closed in positive and 158 in negative while the value of 41 stocks remained unchanged. Cnergyico PK was the volume leader with 103 million shares and closed at Rs 8.55 followed by Power Cement closed at Rs 13.54 with 62.5 million shares. B.O. Punjab ranked third with share trading of 42.5 million shares and it closed at Rs 11.42. Unilever Pakistan Foods Limited and Atlas Honda Limited were the top gainers increasing by Rs 99.00 and Rs 43.39 respectively to close at Rs 23,099.00 and Rs 1,116.13, while Hoechst Pakistan Limited and Nestle Pakistan Limited were the top losers declining by Rs 184.70 and Rs 98.86 respectively to close at Rs 3,012.30 and Rs 7,001.14. Analysts said bulls dominated the trading floor as investors capitalized on attractive valuations, with the benchmark index closing up by 0.9. Majority of buying was seen in banking stocks where MEBL, MCB, and UBL alone contributed 648 points to the index gains. Muhammad Rizwan Director Brokerage Chase Securities Pakistan said the Pakistan Stock Exchange (PSX) had a strong day. Earnings announcements from Sazgar, GHNI, and MEBL exceeded market expectations, boosting investor sentiment, while the banking sector largely contributed to the index gain. BR Automobile Assembler Index closed at 23,005.72 points, registering a gain of 235.09 points or 1.03 percent, with a total turnover of 8.34 million. BR Cement Index ended the session at 14,564.68 points, up by 195.84 points or 1.36 percent, with a turnover of 126.21 million. BR Commercial Banks Index settled at 34,467.45 points, rising 860.53 points or 2.56 percent, with a turnover of 78.58 million. BR Power Generation & Distribution Index closed at 20,312.67 points, increasing 297.95 points or 1.49 percent, with a total turnover of 22.15 million. BR Oil & Gas Index ended marginally higher at 11,806.46 points, gaining 1.29 points or 0.01 percent, with a turnover of 72.23 million. BR Technology & Communication Index was closed at 4,839.28 points, down 25.88 points or 0.53 percent, with a turnover of 28.88 million. Analysts at Topline said that bulls asserted their dominance and the rally was largely driven by better-than-expected corporate earnings, which bolstered investor sentiment and sparked widespread buying. Among the key highlights of the session were the impressive financial results announced by Meezan Bank Limited (MEBL) and Sazgar Engineering Works (SAZEW). Both companies outperformed expectations and emerged as the stars of the day, driving significant investor interest and uplifting the broader market tone, they added. Copyright Business Recorder, 2025
