Latest news with #BRIndex100
Business Recorder
a day ago
- Business
- Business Recorder
PSX sees mild recovery
KARACHI: The PSX saw a mild recovery last week ended on May 30, supported by improved economic policy clarity. However, gains remained limited as investors braced for potential tax-related announcements in the upcoming Federal Budget. The benchmark KSE-100 Index closed at 119,691 points on Friday, recording a gain of 588 points or 0.49 percent on a week-on-week (WoW) basis, up from 119,102.67 points at the close of the previous. Meanwhile, average daily trading volumes increased by 35 percent WoW, rising to 662 million shares compared to 491.5 million shares in the preceding week. Market capitalization rose by Rs. 118 billion during the week, reaching Rs. 14.503 trillion compared to Rs. 14.385 trillion in the previous week. BRIndex100 also gained 103.45 points during the last week to close at 12,842.51 points compared to 12,739.06 points a week earlier. Average daily turnover at BRIndex100 was 575.59 million shares. BRIndex30 up by 288.93 points on a week-on-week basis to 37,794.85 points with the daily average share trading volumes of 432 million. Analysts noted that despite the uptick, the market remained largely range-bound, moving within a narrow band of 1,770 points, weighed down by uncertainty surrounding potential revenue measures in the Federal Budget FY26. Investors remained cautious ahead of the upcoming federal budget amid growing concerns over proposed tax measures. On the economic side, the week commenced with IMF concluding its visit to Pakistan without reaching an agreement on certain budget items, leading the government to reschedule the budget presentation to June 10, 2025. However, the virtual negotiations are continuing, with both sides to focus on measures to enhance tax revenues and curtailing expenditures. Meanwhile, China reaffirmed its commitment to refinance $3.7 billion in commercial loans denominated in the Chinese currency, before the end of June-2025. In other developments, the SBP's net buying from the currency markets stood at $223 million in Feb-2025 to further strengthen foreign exchange reserves, bringing the cumulative purchases of $5.9 billion during 8 months of FY25. In the recently held T-bill auction, SBP raised Rs772 billion against the target of Rs650 billion, with yields remaining largely flat across different maturities. Moreover, SBP reserves also rose by $70 million week on week to $11.52 billion. According to AHL Research, the KSE-100 index remained range-bound throughout the week, weighed down by uncertainty regarding potential revenue measures in the upcoming Federal Budget FY26. Foreign investors remained net sellers during the week, recording an outflow of $5.57 million, which was largely absorbed by local buyers. Overall, sentiment stayed cautious as market participants awaited clarity on fiscal policies and tax reforms expected in the upcoming budget announcement. While analyzing on the monthly basis, Topline sales desk stated that the benchmark KSE 100 Index gained 7.5 percent on month on month (MoM) basis, this gain can be attributed to cut in policy rate by 100bps by SBP to 11 percent in its monetary policy meeting, citing the improvement in inflation outlook relative to the previous assessments and approval of first review of EFF by IMF board along with a new facility under Resilience and Sustainability Facility of $1.4 billion. Analysts at AHL Brokerage house stated that market is expected to remain positive in the coming weeks, with developments around the upcoming federal budget likely to drive short-term sentiment, along with room for more rate cut in the upcoming Monetary Policy Committee (MPC) meeting as it forecasted inflation stands at 7.0 percent in next fiscal year. The KSE100 is anticipated to sustain its upward trajectory, with a target of 165,215 points by December 2025, primarily driven by strong earnings in fertilizers, sustained ROEs in banks, and improving cash flows of E&Ps and OMCs, benefiting from falling interest rates and economic stability, they added. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
PSX extends winning streak
KARACHI: The Pakistan Stock Exchange (PSX) ended the week on a positive note as investor sentiment stayed upbeat, fueled by optimism over the upcoming budget and fresh investment pledges pouring in from abroad. The benchmark KSE-100 Index rose by 719.69 points, or 0.60 percent, to close at an impressive 119,691 points, up from 118,971 points in the previous session. During the intraday trading, the index touched high level of 119,913 points and a low level of 118,772 points. On Friday, BRIndex100 ended at 12,842.51 points, which was 89.17 points or 0.7 percent higher than the previous close with the total volume of 489.356 million shares. BRIndex30 also increased by only 2.57 points or 0.01 percent to settle at 37,794.85 points with the total share trading volume of 79.666 million. Mubashir Anis, analyst at JS Global, credited the market's upward trajectory to improved investor sentiment driven by a stabilizing economic outlook and optimism surrounding the upcoming federal budget. He noted that this positive sentiment translated into a robust and broad-based rally throughout the trading session, with healthy participation from across key sectors. The total volume of the traded shares declined to 580.318 million on Friday as compared to 741.654 million shares on Thursday. While the traded value also declined to Rs 22.743 billion on Friday from Rs 23.911 billion on the last trading day. However, the overall market capitalization saw an increase of Rs 77 billion, reaching to Rs 14.503 trillion on Friday, compared to Rs 14.426 trillion on Thursday. Out of 474 actively traded companies, share prices of 259 companies rose, 161 declined, while 54 remained unchanged. Top positive contributions to the index came from FFC, MEBL, HUBC, PKGP, ENGROH and MCB, as they cumulatively contributed 668 points to the index. Among the top traded companies, WorldCall Telecom. ranked first with 79.666 million shares closing at Rs 1.37, followed by K-Electric Ltd, of which 47.700 million shares were traded and it closed at Rs 5.32. Cnergyico PK ranked third and closed at Rs 7.86 with 35.756 million shares turnover. PIA Holding Company LimitedB recorded the highest gains increase by Rs 2,670.41 and closed at a new high of Rs 29,374.54 followed by Khyber Textile Mills Limited whose share price value closed at Rs 2,790.71, up by Rs 253.70. Moreover, Rafhan Maize Products Company Limited and Sapphire Fibres Limited faced prominent losses with share values decreased by Rs 147.42 and Rs 61.74 respectively to close at Rs 9,960.91 and Rs 1,011.89. Meanwhile, BR Automobile Assembler Index closed at 21,287.33 points with a net negative change of 81.64 points or 0.38 percent with the total turnover remaining 3.613 million shares. BR Cement Index gained 90 points or 0.88 percent to settle at 10,317.36 points with a total turnover of 58.092 million. BR Commercial Banks Index closed at 34,990.77 points up by 291.51 points or 0.84 percent with a total turnover of 23.827 million shares. Meanwhile, BR Power Generation and Distribution Index ended at 20,362.78 points with a net positive change of 355.49 points or 1.78 percent with total turnover of 54.752 million shares. BR Oil & Gas Index closed at 11,508.64 points with a net negative change of 0.35 points on 26.888 million shares turnover. While BR Technology & Communication Index finished at 5,022.77 points marking a negative change of 26.32 points or 0.52 percent, with total turnover of 127.320 million shares. In its commentary, Darson Securities Ltd reported that the Pakistan Stock Exchange (PSX) experienced a range-bound trading session amid mixed investor sentiment driven by uncertainties surrounding upcoming Federal Budget. Despite an initial decline, buyers quickly asserted themselves, propelling the index by marking a gain of 942.47 points. While, Ahsan Mehanti of AHL said stocks closed bullish led by blue chip scrips in oil, banking and fertilizers sector amid hopes for positive federal budget announcements. Budgetary relief for oil refineries, real estate, agri-sector, proposed levy of 1.5pc tax on imports to support industries and rupee stability played a catalyst role in bullish close at PSX, he added. Copyright Business Recorder, 2025
Business Recorder
6 days ago
- Business
- Business Recorder
PSX witnesses slight recovery
KARACHI: The Pakistan Stock Exchange (PSX) witnessed slight recovery amid speculations in the pre-budget session and hopes for a real estate package in the federal budget led cement stocks. The benchmark KSE-100 index gained 112 points or 0.09 percent, settling at 118,333 points on Tuesday as against 118,221 points on Monday. The index also touched an intraday high of 118,807.92 points and a low of 118,143.68 points. On Tuesday, BRIndex100 ended at 12,676.85 points, which was 14.97 points or 0.12 percent higher than the previous close with the total volume of 267.623 million shares. BRIndex30 also increased by 195.4 points or 0.52 percent to settle at 37,554.66 points with the total share trading volume of 267.623 million. Ahsan Mehnati of Arif Habib Corporation said stocks showed recovery amid speculations in the pre-budget session. However, investor concerns over IMF disagreement on key budgetary targets, subsidies and rupee instability invited mid-session pressure. Government measures for raising tax collection and easing fiscal deficit played a catalyst role in positive close at PSX, he added. The market witnessed investor's interest in the market as total ready market turnover rose to 690.39 million shares on Tuesday up from 635.535 million shares in the previous session. The value of shares traded also saw an increase from Rs 18.576 billion to Rs 23.282 billion. Moreover, the overall market capitalization also saw an uptick by Rs 22 billion to Rs 14.347 trillion on Tuesday, compared to Rs 14.325 trillion on Monday. Out of the 459 actively traded companies, the share value of 211 companies increased, while that of 210 companies decreased, and 38 companies' share values remained unchanged. Positive momentum was driven by notable contributions from MEBL, SYS, PKGP, PPL, and DGKC, which together added 223 points to the index. Among the most notable traded companies, K-Electric Ltd. ranked first with 267.523 million shares closing at Rs 5.89, followed by WorldCall Telecom, of which 31.56 million shares were traded and it closed at Rs 1.30. PTCL ranked third and closed at Rs 24.28 with 20 million shares turnover. PIA Holding Company Limited B again recorded the highest gains increase by Rs 2206.95 and closed at a new high of Rs 24,276.48 followed by Khyber Textile Mills Limited whose share price value closed at Rs 2,306.37, up by Rs 209.67. Moreover, Rafhan Maize Products Company Limited and Unilever Pakistan Foods Limited faced notable losses with share values decreased by Rs 471.19 and Rs 100 respectively to close at Rs 10,284.04 and Rs 23,000. Meanwhile, BR Automobile Assembler Index closed at 21,352.89 points with a net negative change of 149.38 points or 0.69 percent with the total turnover remaining 2.182 million shares. BR Cement Index gained 171.49 points or 1.73 percent to settle at 10,077.66 points with a total turnover of 65.207 million. BR Commercial Banks Index closed at 34,591.16 points down by 87.43 points or 0.25 percent with a total turnover of 17.75 million shares. On the other hand, BR Power Generation and Distribution Index ended at 20,109.46 points with a net positive change of 46.1 points or 0.23 percent with total turnover of 274.659 million shares. BR Oil & Gas Index closed at 11,454.97 points with a net positive change of 42.98 points or 0.38 percent on 27.1 million shares turnover. While BR Technology & Communication Index finished at 4,988.19 points marking a positive change of 30.55 points or 0.62 percent, with total turnover of 80.194 million shares. In its commentary, Topline's sales desk says that the overall market activity remained buoyant, with the KSE-100 index experiencing a range-bound session on Tuesday. The index traded within a narrow band, largely due to rollover pressures and lingering uncertainty surrounding the upcoming budget. This cautious sentiment led to a lack of significant market direction, with investors adopting a wait-and-see approach ahead of the budget announcement, analysts added. Copyright Business Recorder, 2025
Business Recorder
26-05-2025
- Business
- Business Recorder
PSX plunges further
KARACHI: The Pakistan Stock Exchange (PSX) witnessed another volatile trading session on the first trading day of the week amid selling pressure across multiple sectors. The KSE-100 Index dropped by 881.55 points, or 0.74 percent, settling at 118,221 points on Monday compared to 119,102.67 points on Friday. During intraday trading, the KSE-100 Index also touched an intraday low of 952 points; however, some recovery was witnessed by the end of the session. On Monday, BRIndex100 ended at 12,661.88 points, which was 77.18 points or 0.61 percent lower than the previous close with the total volume of 541.947 million shares. BRIndex30 decreased by 146.66 points or 0.39 percent to settle at 37,359.26 points with the total share trading volume of 438.783 million. Analysts at AHL said PSX witnessed more downside at the start of the week with the benchmark KSE-100 falling towards 118,000 points. They argue that the KSE-100 Index is declining in support of the large price gap from where upside is expected to resume and breach 120,000 points. Trading activity saw a notable uptick, with the ready market turnover surged to 635.535 million shares on Monday from 338.003 million shares in the previous session. The value of shares traded also slightly increased from Rs 18.511 billion to Rs 18.576 billion. The overall market capitalization declined by Rs 60 billion to Rs 14.325 trillion on Monday, compared to Rs 14.385 trillion on Friday. Out of the 467 actively traded companies, the share value of 188 companies increased, while that of 325 companies decreased, and 44 companies' share values remained unchanged. Selling pressure was seen in key sectors including automobile assemblers, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks including HUBCO, OGDC, PPL, POL, MARI, PSO and SSGC traded in the red. Among the most notable traded companies, K-Electric Ltd. ranked first with 246.932 million shares closing at Rs 5.72, followed by WorldCall Telecom, of which 36.72 million shares were traded and it closed at Rs 1.27. Telecard Limited ranked third and closed at Rs 8.22 with 30.01million shares turnover. PIA Holding Company LimitedB again recorded the highest gains increase by Rs 2,006.32 and closed at a new high of Rs 22,069.53 followed by Khyber Textile Mills Limited whose share price value closed at Rs 2,096.70, up by Rs 190.61. Moreover, Rafhan Maize Products Company Limited and Sazgar Engineering Works Limited faced notable losses with share values decreased by Rs 72.36 and Rs 36.29 respectively to close at Rs 10,755.23 and Rs 1,216.17. Meanwhile, BR Automobile Assembler Index closed at 21,502.27 points with a net negative change of 221.06 points or 1.02 percent with total turnover remaining 2.5139 million shares. BR Cement Index lost 79 points or 0.79 percent to settle at 9,906.17 points with a total turnover of 17.189 million. BR Commercial Banks Index closed at 34,678.59 points down by 233.05 points or 0.67 percent with a total turnover of 14.67 million shares. On the other hand, BR Power Generation and Distribution Index ended at 20,063.36 points with a positive change of only 118.74 points or 0.6 percent with total turnover of 250.261 million shares. BR Oil & Gas Index closed at 11,411.99 points with a net negative change of 165.86 points or 1.43 percent on 25.706 million shares turnover. While BR Technology & Communication Index finished at 4,957.64 points marking a negative change of 64.25 points or 1.28 percent, with total turnover of 110.611 million shares. Analysts from Topline sales desk cited that the continued bearish trend is primarily driven by concerns over the delay in the federal budget announcement and the lack of clarity regarding the IMF conditions tied to it. In the absence of positive triggers, investors chose to trim their positions and adopt a cautious stance. Copyright Business Recorder, 2025
Business Recorder
24-05-2025
- Business
- Business Recorder
Range-bound PSX
KARACHI: The Pakistan Stock Exchange (PSX) witnessed a volatile session on Friday and closed lower due to investor caution and profit-taking. The benchmark KSE-100 Index lost 50.37 points or 0.04 percent, closing at 119,102.67 points on Friday compared to 119,153 points on Thursday. Index saw a significant drop of over 450 points at the opening, reaching an intra-day low of 118,665.26 points. However, it managed to recover, ultimately closing slightly lower. On Friday, BRIndex100 ended at 12,739.06 points, which was 30.1 points or 0.24 percent lower than the previous close with the total volume of 256.158 million shares. Meanwhile, BRIndex30 decreased by 158.67 points or 0.42 percent to settle at 37,505.92 points with the total share trading volume of 122.701 million. Analysts said that a rangebound session was observed at the exchange on the last trading day of the week, as the index traded between its intraday high of 389 points and intraday low of 488 points with low volumes. According to Mubashir Anees of JS Global Capital, the market saw lackluster activity over the weekend, with low trading volumes. He said that the PSX followed the trend of most Asian and European markets, which also closed in negative territory with significant losses. Trading activity saw a notable decline, with the ready market turnover dropping to 338.003 million shares from 589.772 million shares in the previous session. The value of shares traded also decreased, falling to Rs 18.511 billion from Rs 30.813 billion. The overall market capitalization remained relatively stagnant, adding only Rs 2 billion to reach Rs 14.385 trillion, compared to Rs 14.383 trillion on Thursday. Out of the total 459 active trading companies, share value of 183 companies went up, while 232 companies' share value moved in negative and share value of 44 companies remained unchanged. Among the most actively traded companies, Big Bird Foods Ltd ranked first with 32.68 million shares closing at Rs 53.86, followed by WorldCall Telecom, of which 19.363 million shares were traded and it closed at Rs 1.25. Descon Oxychem ranked third and closed at Rs 35.96 with 16.054 million shares turnover. PIA Holding Company LimitedB again recorded the highest gains increase by Rs 1,823.93 and closed at a new high of Rs 20,063.21 followed by Unilever Pakistan Foods Limited whose share price value closed at Rs 23,100.00, up by Rs 204. Moreover, Rafhan Maize Products Company Limited and Nestle Pakistan Limited faced notable losses with share values decreased by Rs 110.46 and Rs 35.70 respectively to close at Rs 10,827.59 and Rs 7,018.72. Meanwhile, BR Automobile Assembler Index closed at 21,723.33 points with a net negative change of 72.97 points or 0.33 percent with total turnover remaining 2.239 million shares. BR Cement Index settled at 9,985.06 points with a negative change of 54.46 points or 0.54 percent and a total turnover of 17.21 million. BR Commercial Banks Index closed at 34,911.64 points down by 27.89 points or 0.08 percent with a total turnover of 17.72 million shares. On the other hand, BR Power Generation and Distribution Index ended at 19,944.62 points with a positive change of only 12.65 points or 0.06 percent with total turnover of 15.625 million shares. BR Oil & Gas Index closed at 11,577.85 points with a net negative change of 32.54 points or 0.28 percent on 17.02 million shares turnover. While BR Technology & Communication Index finished at 5021.89 points marking a negative change of 41.05 points or 0.81 percent down, with total turnover of 41.19 million shares. Ahsan Mehanti of Arif Habib Corporation attributed the stock market's losses to pre-budget uncertainty and concerns over weak exports. He cited investor worries about IMF-driven tax measures for exporters and industrialists, the National Assembly's approval of the off-grid captive power plants levy bill impacting industries, and rupee instability as key factors contributing to the negative close. Copyright Business Recorder, 2025
