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Express Tribune
a day ago
- Business
- Express Tribune
KSE-100 index plummets 2,186 points, amid geopolitical tensions
The Pakistan Stock Exchange (PSX) experienced a notable decline on Friday, with the KSE-100 index falling by 1,949.56 points, closing at 122,143.56 amid escalating geo-political tensions that followed Israel's attack on Iran earlier today. The KSE 100 Index ended the day's session registering a decline of 1.57%. The index recorded a high at 123,058.06 points during the day, while the low reached 121,604.59. Trading volume stood at 237,086,212 shares, with a total value of 19,718,824,728. The index had previously closed at 124,093.12. Israel launched an attack on Iran todaytargeting the country's nuclear facilities under the pretext of preventing Tehran from developing atomic weapons. The attack, that killed Iranian nuclear scientists and targetted the top 20 military commanders despite Iran's long-standing insistence that its nuclear-related activity is for peaceful purposes. Israel, which is believed to be the only nuclear armed state in the Middle East, has declared a state of emergency in anticipation of retaliation by Tehran. Earlier on Thursday, the PSX saw a turbulent session, with the benchmark KSE-100 index hitting a record intra-day high of 126,718 before reversing course and closing modestly lower. At the end of trading, the benchmark KSE-100 index lost 259.56 points, or 0.21%, and settled at 124,093.12. The market volatility continues to reflect broader uncertainties tied to global events. Early gains were supported by improved investor sentiment, driven by the budget announcement, robust remittances and monetary policy expectations. However, the rally lost steam as the session progressed, with profit-taking in overheated stocks and geopolitical uncertainty surrounding the Middle East, undermining sentiment. Arif Habib Corp MD Ahsan Mehanti stated that stocks closed under pressure on geopolitical uncertainty and post-budget profit-taking in overbought shares. "The rout in global equities on Middle East tensions, a slump in international crude oil prices and a weak rupee on contracting exports were among the key factors behind the bearish close of the market," he added. JS Global analyst Mubashir Anis Naviwala said that the index hit a high of 126,718 before profit-taking dragged it down by 260 points. The analyst advised investors to watch for key support levels and use dips to accumulate stocks with focus on fertiliser, cement and banking sectors for near-term opportunities.
Express Tribune
3 days ago
- Business
- Express Tribune
PSX continues record rally as KSE-100 breaches 124,000 points for first time
The stake sale would be followed up with a listing of a further 20% of stock exchange shares in the domestic market Listen to article The Pakistan Stock Exchange (PSX) reached a new all-time high on tuesday, with the KSE 100 Index crossing the 124,000-point mark for the first time in history during intraday trading. The index gained 1,990.41 points, or 1.63%, as the market stood at 124,014.85 around noon local time. During the ongoing session, it peaked at 124,135.96 points, while the intraday low was 123,237.99 points. Trading volume stood at 146.42 million shares, with a total market value of Rs13.84 billion. This surge follows the announcement of the federal budget, which has been well-received by investors, sparking optimism in the market. Read: Anti-digital, pro-realty sector budget Yesterday, Finance Minister Muhammad Aurangzeb unveiled a Rs17.6 trillion federal budget for fiscal year 2025-26, laying stress on the government's focus on economic stability and growth. Finance Minister highlighted key economic indicators during a post-budget briefing, citing improvements in remittances, inflation, and growth. Aurangzeb said remittances had reached $31.2 billion so far, with projections of $37–38 billion by the end of the financial year. The country's GDP growth stands at 2.7%, while inflation has eased to 4.7%, according to the minister. The National Economic Council (NEC) approved Rs4.224 trillion in development spending, including Rs1 trillion for the federal Public Sector Development Programme (PSDP), Rs2.869 trillion for Provincial Annual Development Plans (ADPs), and Rs355 billion from state-owned enterprises' own resources. For the fiscal year 2025–26, the government projects economic growth at 4.2% and both inflation and interest rates at 7.5%. Aurangzeb said the budget deficit is forecast at 3.9% of GDP, with a primary surplus of 2.4%.
Business Recorder
30-05-2025
- Business
- Business Recorder
KSE-100 adds 720 points amid bullish momentum
Buying rally continued at the Pakistan Stock Exchange (PSX) on Friday, with the benchmark KSE-100 Index closing the day with a gain of 720 points. The bulls largely maintained their grip over the market, hitting the index to an intra-day high of 119,913.88. At close, the benchmark index settled at 119,691.09, up by 719.69 points or 0.60%. Top positive contributions to the index came from FFC, MEBL, HUBC, PKGP, ENGROH and MCB, as they cumulatively contributed 668 points to the index, brokerage house Topline Securities said in its post-market report. The KSE 100 Index gained 7.5% on month-on-month (MoM) basis. 'This gain can be attributed to cut in policy rate by 100bps by SBP to 11% in its monetary policy meeting - citing 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 US$1.4 billion,' Topline said. On Thursday, the PSX closed in the green zone, as investors remained strong due to various domestic and international reasons. The KSE-100 Index gained 638.50 points or 0.54% to settle at 118,971.40 points. Internationally, stocks slipped in Asia on Friday, and the US dollar dropped with Treasury yields as investors digested an appeals court's decision to keep President Donald Trump's tariffs in effect, a day after markets rallied on a separate ruling blocking most of them. Japan's Nikkei saw the most pronounced selling, after experiencing the most pronounced buying on Thursday, with moves in the exporter-heavy index exacerbated by the ebb and flow in demand for the safe-haven yen. Asian shares, US dollar climb on rosy data, tech optimism The United States Court of Appeals for the Federal Circuit in Washington temporarily reinstated Trump's duties on Thursday while it considers the government's appeal. The Nikkei dropped 1.7% in the Asian morning, putting it basically back at Wednesday's closing level. The yen strengthened about 2% from its low on Thursday to last change hands at around 143.48 per US dollar. A stronger yen reduces the value of overseas revenues. Hong Kong's Hang Seng sank 1.4% and mainland China's blue chip index eased 0.3% in early trading. South Korea's KOSPI fell 0.5%. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.4%. Meanwhile, the Pakistani rupee registered marginal gain against the US dollar, appreciating 0.02% in the inter-bank market on Friday. At close, the local currency settled at 282.02, a gain of Re0.05 against the greenback. Volume on the all-share index decreased to 580.32 million from 741.65 million recorded in the previous close. The value of shares declined to Rs22.74 billion from Rs23.91 billion in the previous session. WorldCall Telecom was the volume leader with 79.67 million shares, followed by K-Electric Ltd with 47.70 million shares, and Cnergyico PK with 35.76 million shares. Shares of 474 companies were traded on Friday, of which 259 registered an increase, 161 recorded a fall, while 54 remained unchanged.
Business Recorder
10-05-2025
- Business
- Business Recorder
PSX sees big bounce-back
KARACHI: The Pakistan Stock Exchange (PSX) staged a remarkable recovery on Friday after four consecutive negative sessions, driven by easing tensions between Pakistan and India and anticipation surrounding the upcoming IMF Board meeting. The benchmark KSE-100 Index gained 3,648 points, or 3.52 percent to close at 107,174.64 points on Friday compared to 103,527 points on Thursday. Overall, some 519 million shares were traded down from 653 million a day earlier. On Friday, BRIndex100 also increased by 411.38 points or 3.79 percent to settle at 11,267.56 points with a total volume was 451.39 million shares. BRIndex30 closed at 32,236.02 points, up by 1502.16 points or 4.89 percent with a total volume was 309.693 million shares. Analysts said the KSE 100 Index rebounded on the last trading day of the week and gained to close at 3.5 percent recouping some of the previous day losses, in which KSE 100 Index lost some 6.7 percent. This recovery was on account of optimism on IMF Executive Board meeting scheduled to consider Extended Fund Facility (EFF) program, where market expects smooth approval. Overall decline in cross border hostilities also provided stimulus to investor sentiment, they added. The total traded value on the ready counter declined to Rs 29 billion compared to Rs 35.44 billion in the previous session. The market capitalization increased by Rs 368 billion to Rs 12.893 trillion. Out of 441 active scrips, 300 closed in positive and 99 in negative while the value of 42 stocks remained unchanged. Muhammad Rizwan Director Brokerage Chase Securities Pakistan (Pvt.) Limited, after four consecutive days of decline, totaling an 11.2 percent loss, the market staged a remarkable recovery, on hopes of easing tensions between the two sides, fueled by international diplomatic efforts. Hopes of a potential release of a $1 billion IMF tranche and anticipation of circular debt payment boosted investor confidence in the second half of the session, particularly benefiting Oil and Gas Exploration stocks. Stocks like OGDC, PPL, SNGP, and PSO closed with gains ranging from 4 percent to 6 percent. WorldCall Telecom was the volume leader with 47 million shares and closed at Rs 1.16 followed by Cnergyico PK that closed at Rs 33.5 with 6.42 million shares. Sui South Gas ranked third with share trading of 29 million shares and it closed at Rs 27.69. PIA Holding Company LimitedB and Nestle Pakistan Limited the top gainers increasing by Rs 703.20 and Rs 120.31 respectively to close at Rs 7,735.23 and Rs 7,119.15, while Unilever Pakistan Foods Limited and Supernet Technologies Limited were the top losers declining by Rs 107.87 and Rs 64.78 respectively to close at Rs 21,972.88 and Rs 780.00 BR Automobile Assembler Index closed at 20,531.57 points, marking a net gain of 432.79 points or 2.15 percent, with a total turnover of 11.80 Cement Index ended the session at 8,931.34points, reflecting a rise of 441.80 points or 5.20 percent, and a total turnover of 44.01 million. BR Commercial Banks Index settled at 31,716.02points, posting an increase of 839.07 points or 2.72 percent, with a total turnover of 43.33 Power Generation & Distribution Index finished at 18,055.73points, showing a gain of 646.72 points or 3.71 percent, and a total turnover of 24.19 million. BR Oil & Gas Index closed at 10,293.23points, registering a positive change of 526.39 points or 5.39 percent, with the highest turnover of 83.87 Technology & Communication Index ended at 4,369.11points, up by 122.24 points or 2.88 percent, with a notable turnover of 75.50 million. Ahsan Mehanti of Arif Habib Corp said that stocks staged sharp recovery as investor eye de- escalation in Pak -India tensions after US appeal for end to violence and IMF board approval disbursement of $1bn under EFF and additional arrangement for $1.3bn under RSF. He added that SBP policy easing and surge in global crude oil prices played catalyst role in record bullish close at PSX. Copyright Business Recorder, 2025
Business Recorder
03-05-2025
- Business
- Business Recorder
PSX posts sharp recovery
KARACHI: The Pakistan Stock Exchange staged a sharp recovery on the final trading day of the week, following diplomatic interventions by the United States and the United Nations urging Pakistan and India to de-escalate. The benchmark KSE-100 Index gained 2,787.36 points, or 2.50 percent, closing at 114,114points on Friday up from 111,326.58points on Thursday. However, the daily volume at the ready counter declined significantly from 492 million shares in the previous session to 372 million shares. On Friday, BRIndex100 opened at 11,775.43 points closed at 12,144.81 points, which was 369.38 points or 3.14 percent higher than previous close. Total volume at BRIndex was 310.562 million shares. BRIndex30 increased by 870.34 points or 2.52 percent to settle at 35,340.87 points with a total volume of 193.967 million shares. Similarly, the total traded value on the ready counter also decreased to Rs 23 billion compared to Rs 31 billion in the previous session. The market capitalization declined Rs 288 billion to Rs 13.808 trillion. Out of 445 active scrips, 331 closed in positive and 63 in negative while the value of 51 stocks remained unchanged. Ahsan Mehanti of Arif Habib Corp said that stocks showed sharp recovery after US, UN urge Pakistan and India to defuse tensions. Reports of 0.3pc YoY CPI inflation for Feb'25 likely to further ease SBP policy and expected approval on disbursement of IMF tranche this month played catalyst role in record bullish close at PSX. Sui South Gas was the volume leader with 29 million shares and closed at Rs 40.25 followed by Cnergyico PK closed at Rs 7.11 with 27 million shares. B.O. Punjab ranked third with share trading of 21 million shares and it closed at Rs 9.69. PIA Holding Company LimitedB and Hoechst Pakistan Limited the top gainers increasing by Rs 436.63 and Rs 223.37 respectively to close at Rs 4,802.96 and Rs 3,173.37, while Unilever Pakistan Foods Limited and Pakistan Tobacco Company Limited were the top losers declining by Rs 461.63 and Rs 30.05 respectively to close at Rs 23,008.12 and Rs 1,162.34. Analysts at Topline Securities said that KSE 100 Index rebounded today after remaining under pressure for two consecutive trading session. KSE 100 Index settled at 114,114 level (up by 2.50%). This recovery in market can be attributed to statements by US Administration indicating that they are working to ensure that tensions between India and Pakistan don`t escalate into a broader regional conflict. Top positive contribution to the index came from UBL, EFERT, HUBC, LUCK, MEBL and HBL, as they cumulatively contributed +1,238 points to the index Traded value wise LUCK (Rs1.53bn), SNGP (Rs1.39bn), DGKC (Rs1.26bn), MARI (Rs1.02bn) and UBL (Rs978mn) dominated the trading activity. BR Automobile Assembler Index ended the session at 22,057.83 points, recording a net gain of 401.44 points or 1.85 percent, with a total turnover of 4.52 million. The BR Cement Index settled at 9,406.62points, rising 328.10 points or 3.61 percent and a turnover of 55.10 million. The BR Commercial Banks Index advanced to 33,679points, climbing 1,407.77 points or 4.36 percent, with a turnover of 46.39 million. The BR Power Generation and Distribution Index finished at 19,275.48points, gaining 520.38 points or 2.77 percent increase, with a total turnover of 23.77 million. The BR Oil and Gas Index moved up to 11,069.58points, showing a positive change of 207.09 pointsor 1.91 percent, with a turnover of 59.43 million. The BR Technology and Communication Index reached 4,839.77points, up 72.08 points or 1.51 percent, with a turnover of 31.83 million. Copyright Business Recorder, 2025
