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Business Recorder
3 days ago
- Business
- Business Recorder
Stocks end on flat note
KARACHI: The Pakistan Stock Exchange (PSX) ended on a flat note on Friday despite early optimism, as institutional profit-taking, concerns over foreign outflows, and anxiety surrounding the trade bodies' strike call on budgetary measures dented intraday gains. The benchmark KSE-100 Index closed at 138,597.36 points, down 68.14 points or 0.05 percent from the previous close of 138,665.50 points. The index managed to touch an all-time intraday high of 140,585.38 points during the session and low of 138,343.73 points. On Friday, BRIndex100 closed at 14,199.57 points which was 60.31 points or 0.43 percent higher than previous close. Total volume was 429.03 million shares. Meanwhile, BRIndex30 closed at 39,511.87 points which was 623.48 points or 1.55 percent lower than the previous close. Total volume was 228.44 million shares. Market Analyst Ahsan Mehanti noted that stocks closed flat on institutional profit-taking in overbought scrips amid foreign outflows and worries over the outcome of trade bodies' strike call on budgetary measures impacting corporates and FBR powers. Reports of $23 billion in external debt repayments due in FY26 and rupee instability also played a catalytic role in triggering bearish activity at PSX. Market capitalization declined by approximately Rs 100 billion to Rs 16.517 trillion, down from Rs 16.617 trillion in the previous session. Regular market volumes also dropped to 609.4 million shares, down from 780 million, while the traded value fell sharply to Rs 31.0 billion from Rs 39.97 billion. Out of 478 listed companies in the ready market, 331 ended in the red, while only 120 posted gains and 27 remained unchanged, underscoring negative market breadth. The biggest losers included PIA Holding Company Limited-B, which plummeted Rs 3,829.05 to Rs 34,461.47, and Hoechst Pakistan, which shed Rs 84.80 to Rs 3,115.20. Conversely, Unilever Pakistan Foods rose by Rs 310.86 to Rs 24,510.00 and Pakistan Services gained Rs 110.57 to Rs 1,216.22. Among volume leaders, Pak International Bulk Terminal topped the chart with over 53 million shares traded and its closing rate was Rs 10.14, followed by First Dawood Investment Properties and Ghani Chemworld with 42 million and 31.7 million shares respectively with the closing rate of Rs 6.93 and Rs 13.41. The BR Automobile Assembler Index ended at 22,381.32 points, registering a decline of 186.93 points or 0.83 percent, with a total turnover of 3.43 million shares. The BR Cement Index closed lower at 10,705.28 points, down by 110.91 points or 1.03 percent, on a turnover of 43.67 million shares. The BR Commercial Banks Index finished in the green at 40,670.97 points, gaining 219.22 points or 0.54 percent, with a total turnover of 62.310 million shares. The BR Power Generation and Distribution Index settled at 21,602.33 points, down by 157.55 points or 0.72 percent, with a total turnover of 40.87 million shares. The BR Oil and Gas Index dropped 124.16 points or 1.03 percent, to close at 11,930.04 points, with a total turnover of 23.15 million shares. The BR Technology & Communication Index also closed in the red at 3,020.91 points, shedding 63.55 points or 2.06 percent, with a turnover of 45.23 million shares. Topline Securities in its commentary said that PSX although opened on a positive note and gained to make an intraday high of 1,920 points on buying by local institutions, however profit taking was observed in the second half of trading session as investors came in to book their profit before the weekend. Analysts also noted that additionally, market sentiment was weighed down by reports of $23 billion in external debt repayments due in FY26 and growing instability in the rupee, triggering caution among investors. Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
PSX extends bullish rally
KARACHI: The Pakistan Stock Exchange (PSX) extended its bullish momentum on Thursday, buoyed by strong institutional buying, renewed interest in blue-chip stocks, and investor optimism. The benchmark KSE-100 Index surged 2,285 points or 1.68 percent to a new all-time closing high of 138,665.50 points as compare to its previous close of 136,380 points. The index traded between a low of 136,674.98 points and a high of 138,943.47 points during the day. On Thursday, BRIndex100 closed at 14,139.26 points gaining 275.26 points or 1.99 percent from the previous close. The total volume stood at 564.69 million shares. Meanwhile, BRIndex30 closed at 40,135.35 points, up 636.29 points or 1.61 percent. Its total turnover stood at 305 million shares. According to a market review issued by Topline Securities, bulls at PSX roared back after two sessions of mild consolidation, with fertilizers leading the charge. FFC and EFERT collectively contributed 563 points to the index, while UBL, Systems Ltd, Engro Holdings, and Hub Power added another 763 points. In the ready market, turnover improved to 780 million shares, compared to 706 million in the previous session, while traded value surged to Rs 39.97 billion from Rs 32.18 billion, highlighting revived investor interest and confidence. The market capitalization also increased from Rs 16.41 trillion to Rs 16.62 trillion, a net addition of Rs 204 billion. Volume leaders on the ready board included Pak International Bulk Terminal, which closed at Rs 10.09 with over 82.6 million shares traded. Other actively traded stocks were First Dawood Properties with 42.47 million shares and closed at Rs 7.00 and Ghani Chemical World with 26 million shares changes hands closed at Rs 13.21. Among the top gainers in the ready market, PIA Holding Company Limited-B stood out with an exceptional rise of Rs 3,480.96 to close at Rs 38,290.52, while Unilever Pakistan Foods Limited gained Rs 281.14, ending at Rs24,199.14. On the other hand, the biggest losers in the ready market included Pakistan Engineering Company Limited, which fell by Rs 35.79 to close at Rs 740.00, and Bhanero Textile Mills Limited, down Rs 16.48 to Rs 953.39. The BR Automobile Assembler Index ended the session at 22,568.25 points, registering a net gain of 323.03 points, or 1.45 percent up. The total turnover for the sector stood at 8.23 million shares. The BR Cement Index advanced to 10,816.19 points, reflecting a positive movement of 143.44 points or a 1.34 percent rise, supported by a robust trading volume of 56.51 million shares. Closing at 40,451.75 points, the BR Commercial Banks Index recorded a net increase of 543.84 points, equivalent to a 1.36 percent gain, with a cumulative turnover of 52.66 million shares. The BR Power Generation and Distribution Index also closed on a strong note at 21,759.88 points, up 475.18 points or 2.23 percent, driven by a turnover of 34.54 million shares. The BR Oil and Gas Index posted a modest gain, closing at 12,054.20 points after adding 59.3 points, which represents a 0.49 percent increase. The sector saw a total volume of 42.33 million shares traded. Meanwhile, the BR Technology and Communication Index posted a sharp increase of 99.05 points, or 3.32 percent, closing at 3,084.46 points, with a total turnover of 58.22 million shares. Ahsan Mehanti of Arif Habib Corporation noted that the market's record-setting close was driven by broad-based buying, spurred by media speculation about a possible US presidential visit in September. He added that optimism over resolution of budgetary matters and improving economic data also helped drive Thursday's rally. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
Bulls maintain control
KARACHI: The Pakistan Stock Exchange (PSX) maintained its upward momentum on Wednesday as investors engaged in select profit-taking, while maintaining interest in key growth sectors. The KSE-100 Index advanced by 440 points or 0.32 percent to settle at 136,380 points as compare to its previous close of 135,939.87 points. During the trading session, the index hit a high of 137,232 points and dipped to a low of 135,543 points, the overall session reflected a tone of consolidation. On Wednesday, BRIndex100 closed at 13,864 points, gaining 84.65 points or 0.61 percent with a total volume of 520.6 million shares, while BRIndex30 ended at 39,499.06 points, losing 119.68 points or 0.3 percent with a total volume of 309.8 million shares. According to Topline Securities, the session was marked by consolidation and the gains were underpinned by strength in select index movers. Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), Engro Fertilizers (EFERT), Pakistan State Oil (PSEL), and Attock Refinery (ATRL) collectively contributed 1,160 points to the index. On the downside, major banking stocks, including United Bank (UBL), Meezan Bank (MEBL), and MCB Bank, cumulatively shaved off 443 points due to profit-taking after recent advances. Trading activity, though slightly muted from the previous session, remained healthy. The regular market saw volumes of 706 million shares, down from 879 million a day earlier. Similarly, traded value decreased to Rs 32.18 billion from Rs 38.6 billion. Nonetheless, the market capitalization rose to Rs 16.413 trillion, up from Rs. 16.401 trillion the previous day, adding Rs 12 billion in market cap and signaling a net positive investment trend. Leading the volume charts was Pak International Bulk Terminal (PIBTL), which closed at Rs. 9.69 with over 90 million shares changing hands. Other heavily traded scrips included First Dawood Properties, closing at Rs. 6.11 with 40.6 million shares and DH Partners Limited closed at Rs. 42.06 with 37.2 million shares. On the gainers' board, PIA Holding Company surged by Rs 3,164.51 to close at Rs. 34,809.56, while Unilever Pakistan Foods rose Rs 121.82 to end at Rs 23,918. Meanwhile, Rafhan Maize and Ismail Industries led the laggards, finishing at Rs 9,453 and 2,013.15 declining by Rs 96.44 and Rs 67.57 respectively. Overall market breadth remained evenly balanced, with 223 companies advancing, 221 declining, and 38 remaining unchanged out of 482 total scrips traded. The BR Automobile Assembler Index ended the session down by 111.77 points or 0.5 percent at 22,245.22 points, with a total turnover of 3.336 million shares. The BR Cement Index finished lower by 6.06 points or 0.06 percent at 10,672.75 points, recording a total turnover of 39.668 million shares. The BR Commercial Banks Index ended down 610.62 points at 39,907.91 points, with a total turnover of 62.53 million shares. The BR Power Generation and Distribution Index dropped 54.12 points to settle at 21,284.70, with a total turnover of 19.46 million shares. The BR Oil and Gas Index slipped 36 points or 0.3 percent to close at 11,994.90, with a total turnover of 41,648,957 shares. The BR Technology & Communication Index was down by 28.68 points or 28.68 percent, ending the session at 2,985.41 points, with a total turnover of 72.81 million shares. Market observers noted that the current rally is being fueled by investors' expectations of robust corporate earnings and attractive dividend payouts. Analyst Ahsan Mehanti stated that the ongoing bull run is supported by anticipated credit rating upgrades from Moody's, driven by strong macroeconomic recovery. Reports of the Finance Minister presenting compelling fiscal data to Moody's to improve the country's rating and additionally, government assurances of resolving industrial concerns over budgetary measures, is paving the way for a bullish close at PSX. Copyright Business Recorder, 2025
Business Recorder
7 days ago
- Business
- Business Recorder
PSX hits new historic high
KARACHI: The Pakistan Stock Exchange witnessed a resounding rally on the first day of the week, hitting new historic high, propelled by strong institutional participation and growing investor confidence. The benchmark KSE100 index finished by a remarkable 2,203 points, or 1.64 percent, to finish at a record 136,502.54 points as compared to the Friday's closing 134,299.77 points. Earlier in the session, the index had touched an intraday peak of 136,842 points, and a low of 134,937 points reflecting an exceptionally bullish mood in the market. BRIndex100 gained 224.38 points or 1.65 percent to close at 13,855.21 with a total volume of 603.15 million shares, while BRIndex30 increased by 337.2 points or 0.85 percent to settle at 40,188.19 with a total volume of 270.13 million shares. According to Topline Securities' sales desk, the rally was led by aggressive buying from local mutual funds and institutions. Much of the upward thrust came from the banking sector, where heavyweights United Bank Limited, Habib Bank Limited, Fauji Fertilizer Company, Bank AL Habib, and MCB Bank collectively added 1,443 points to the index. This sector-wide surge was fueled by positive earnings expectations and investor optimism over stable policy direction. Trading activity remained vibrant throughout the session. The ready market recorded a turnover of 841 million shares, compared to 765 million shares in the prior session. The total traded value stood at Rs 37 billion, slightly lower than the Rs 40 billion recorded on Friday. Crescent Star Insurance led the volumes chart with 47.2 million shares and closed at Rs 4.34 followed by K-Electric with 43 million shares and First Dawood Properties with a volume of 35 million shares. Both finished at Rs 5.33 and Rs 5.55 respectively. Market capitalization expanded sharply during the session, increasing from Rs 16.29 Trillion rupees in the previous session to Rs 16.49 Trillion rupees by the close, an impressive addition of over Rs 205 Billion in a single trading day. Among individual gainers, PIA Holding Company LimitedB shares spiked by Rs 2,615 to close at Rs 28,768, while S.S. Oil Mills gained Rs 92 to end at Rs 1,010. On the losing side, Ismail Industries fell by Rs 110 to Rs 2,020, and Unilever Pakistan Foods dropped Rs 80 to settle at Rs 23,336. Overall, the session witnessed strong breadth with 264 stocks closing in the green, 195 declining, and 16 remaining unchanged out of a total of 475 companies traded in the ready market. The BR Automobile Assembler Index closed at 22,743.17 points, rising by 315.34 points or 1.41 percent, with a total turnover of 12.27 million shares. The BR Cement Index settled at 10,777.76 points, down by 62.97 points or 0.58 percent, with a total turnover of 37.90 million shares. The BR Commercial Banks Index ended at 40,475.13 points, advancing by 1,549.34 points or 3.98 percent, with a total turnover of 104.91 million shares. The BR Power Generation and Distribution Index surged by 404.13 points or 1.9 percent to close at 21,634.93 points, with a total turnover of 57.92 million shares. The BR Oil and Gas Index declined by 45.18 points or 0.37 percent, ending the session at 12,183.85 points, with a total turnover of 39.74 million shares. Meanwhile, the BR Technology & Communication Index recorded a gain of 10.06 points or 0.33 percent, settling at 3,056.62 points, with a total turnover of 62.93 million shares. Muhammad Hasan Ather of JS Global noted that the KSE-100 Index rally was supported by strong investor confidence driven by favorable macro indicators, record remittances, and widespread gains in key sectors such as banking and cement. Ather further added that continued government support and solid earnings expectations played a key role in strengthening market sentiment. While the upward trajectory is likely to persist in the near term, he cautioned that selective profit-taking may occur as the market approaches overbought territory. Copyright Business Recorder, 2025
Business Recorder
14-07-2025
- Business
- Business Recorder
PSX hits all-time high
KARACHI: The Pakistan Stock Exchange (PSX) extended its bullish momentum this week, with the benchmark KSE-100 Index closing at a fresh all-time high of 134,299.77 points, after gaining a robust 2,351 points or 1.8 percent on a week-on-week (WoW) basis. This marks another milestone in what has been a remarkable run for the local equity market, fuelled by improving macroeconomic fundamentals, sustained foreign inflows, and strong institutional participation. PSX Market Capitalization also increased from Rs 15.910 trillion to Rs 16.288 trillion during the week — a gain of Rs 377.8 billion, or approximately 2.4 percent WoW in local currency terms. BRIndex100 increased by 194.93 points last week, closing at 13,630.83 points. This is up from 13,435.90 points the previous week. On average, 733.196 million shares were traded daily for BRIndex100 which is less than 15 million shares from previous week. BRIndex30 also rose by 433.66 points over the week, ending at 39,850.99 points while it ended up previous week at 39,417.33 points. The average daily trading volume for BRIndex30 during the week remain 403.526 million shares According to market observers, this week's rally was primarily driven by continued buying from local mutual funds amid new allocations, with the month-to-date (MTD) net inflows from this segment standing at around US$30 million by Thursday's close. The persistent institutional interest provided stability and upward momentum to the index, even as overall trading volumes moderated slightly compared to the previous week. Contributing to the positive sentiment were several key macroeconomic developments. Remittances for June 2025 came in at a solid US $3.4 billion, taking the cumulative figure for FY25 to a historic US $38.3 billion, the highest ever annual remittance inflow recorded by Pakistan and up 27 percent year-on-year (YoY). This surge provided a crucial cushion to the external account and underpinned the rupee's stability in recent sessions. In the money market, robust participation of Rs 2.7 trillion was recorded in the latest T-Bill auction, where the government raised Rs 1.41 trillion. Notably, the yield on the 12-month T-Bill declined by 13 basis points, signalling improved investor confidence and easing inflationary concerns. Another positive trigger for the equities market was the latest data from the State Bank of Pakistan (SBP), which showed that foreign exchange reserves surged to a 39-month high of US $14.5 billion for the week ended July 4, 2025. This sharp increase, coupled with record remittances, pushed total reserves past the US $20 billion mark for the first time in three years, significantly strengthening Pakistan's external position. The government's fiscal management efforts also remained in focus as authorities successfully retired Rs 1.5 trillion in public debt ahead of schedule in FY25, bringing the country's debt-to-GDP ratio down to 69 percent from 75 percent in FY23. Additionally, the government advanced plans to issue its inaugural Panda bond in the Chinese capital market, with key meetings held in China this week to finalize arrangements. Among sectors, the automobile industry continued its impressive recovery, as compare to the last some years, benefiting from improved stability and consumer sentiment. According to figures released by the Pakistan Automotive Manufacturers Association (PAMA), car sales in June 2025 soared to 21,773 units, reflecting a 64 percent YoY increase and a 47 percent MoM rise. On a cumulative basis, industry sales during FY25 rose by 43 percent YoY to 148,019 units, marking one of the sector's strongest yearly performances in recent history. A sector-wise breakdown showed Textile companies leading the gains with a 10.5 percent WoW rise, followed by chemicals (up 6.8 percent), autos (up 4.2 percent), and banks (up 3.6 percent). Cement, pharmaceuticals, and engineering stocks also posted steady gains amid improving demand outlook and healthy corporate earnings expectations. In terms of market activity, average daily traded volume stood at 948 million shares, while the average daily traded value clocked in at Rs 38.8 billion during the outgoing week. While these figures represented a marginal decline compared to last week, analysts contended that overall sentiment remained buoyant, supported by sustained institutional flows and robust corporate disclosures. Among individual stocks, BNWM (Bannu Woollen Mills) MEHT (Mehmood Textile Mills), and KTML (Kohinoor Textile Mills) were the top gainers, posting gains of 34.0 percent, 26.7 percent, and 18.6 percent WoW respectively. On the other hand, PSEL (Pakistan Services Limited), AIRLINK, and PKGP faced profit-taking pressures. Regionally, Asian markets displayed a mixed performance. Korea's KOSPI led with a 4.0% gain, followed by Indonesia (up 2.7%) and China (up 1.1%), while India's Sensex fell by 1.1% amid geopolitical jitters and mixed earnings guidance. In contrast, the PSX's 2 percent increase on a week on week basis, highlighted its relative resilience and appeal among frontier and emerging markets. With a combination of record remittances, improving external reserves, controlled inflationary outlook, and fiscal consolidation, market analysts anticipate the PSX's positive trajectory to persist in the near term. However, they caution that intermittent profit-taking and global market volatility could inject bouts of volatility. Sectors likely to remain in investor focus include banking, autos, textiles, and export-oriented industries, while institutional flows — particularly from mutual funds and foreign portfolio investors — are expected to remain the key market drivers. Copyright Business Recorder, 2025
