Latest news with #MuhammadHasanAther
Express Tribune
2 days ago
- Business
- Express Tribune
PSX ends flat after touching 140,000
Listen to article The Pakistan Stock Exchange (PSX) ended Friday's session on a flat note despite strong early gains as investors opted for profit-taking after the KSE-100 index touched a record intra-day high of 140,585 points. The index closed just shy of 138,600, with momentum briefly driven by institutional buying before fading in the latter half. The session was buoyed by positive macroeconomic news as Pakistan posted a current account surplus of $2.1 billion in FY25 – the highest in over two decades – largely driven by record remittances and IT exports. Analysts expect market momentum to continue amid potential of strong earnings and hopes of monetary easing, though short-term corrections may occur as valuations stretch and investors await clarity on the central bank's next move. "Stocks closed flat on institutional profit-taking in overbought shares amid foreign outflows and worries over the outcome of trade bodies' strike call against budgetary measures and taxmen powers," noted Arif Habib Corp MD Ahsan Mehanti. Reports of $23 billion in external debt repayments due in FY26 and rupee fluctuations drove bearish activity at the PSX, he added. At the end of trading, the benchmark KSE-100 index posted a decline of 68.14 points, or 0.05%, and settled at 138,597.36. Arif Habib Limited (AHL) said that the market remained flat, after briefly touching the 140,000 level during intra-day trading. Out of the actively traded stocks, 26 advanced while 73 declined. Major contributors to the index's gains included Fauji Fertiliser Company (FFC) (+4.13%), UBL (+2.3%) and Engro Holdings (+1.65%). On the flip side, Systems Ltd (-2%), Meezan Bank (-1.4%) and Hubco (-1.5%) were the major drags, it said. In terms of macroeconomic developments, Pakistan posted a current account surplus of $2.1 billion in FY25, the highest in over two decades. Looking ahead, the index shows upside potential towards 140,500, with support levels now placed in the 137,200-138,200 range, AHL added. Topline Securities' market review stated that the KSE-100 index opened on a positive note and rose to intra-day high of +1,920 points on buying by local institutions. However, profit-taking was observed in the second half of the trading session as investors came in to book profit before weekend. The top positive contribution to the index came from FFC, UBL, Engro Holdings, Pakistan Services, Pakistan Aluminium Beverage Cans and Engro Fertilisers as they cumulatively contributed +1,052 points. On the other hand, Systems Ltd, Meezan Bank, Hubco, NBP and Mari Petroleum pulled the index down by 345 points. Muhammad Hasan Ather of JS Global noted that the benchmark KSE-100 index closed flat. Investors booked profits following a record-breaking rally as the index touched intra-day high of 140,585 points. Sentiment remained buoyant on expectations of strong corporate earnings and potential monetary easing, supported by the finance minister's dovish comments. Looking ahead, market momentum is likely to persist through earnings season, though intermittent profit-taking may emerge as valuations stretch and investors await clarity on the State Bank's policy move, Ather added. Overall trading volumes were recorded at 609.4 million shares, compared with the previous day's tally of 780 million. The value of shares traded was Rs31.6 billion. Shares of 478 companies were traded. Of these, 120 stocks closed higher, 331 fell and 27 remained unchanged. Pakistan International Bulk Terminal was the volume leader with trading in 53.1 million shares, gaining Rs0.05 to close at Rs10.14. It was followed by First Dawood Properties with 42 million shares, losing Rs0.07 to close at Rs6.93 and Ghani Chemworld with 31.8 million shares, gaining Rs0.20 to close at Rs13.41. Foreign investors were buyers of shares worth a net Rs267.8 million, the National Clearing Company reported.
Express Tribune
3 days ago
- Business
- Express Tribune
PSX update today: Hits new all-time high as KSE-100 crosses 140,000
The Pakistan Stock Exchange (PSX) witnessed yet another significant upswing on Friday, driving the benchmark KSE-100 index to a new all-time high. The index is up 126.38 points, with the current level at 138,791.87, marking a 0.09% gain from the previous close of 138,665.49 during intra-day trading. The market touched a record high of 140,585.38 and a low of 138,551.61, showcasing a wide trading range driven by active participation across key sectors. Trading volume remained strong at 107 million shares, while the daily traded value reached Rs11.38 billion, underlining continued investor interest in equities amid stabilising macroeconomic signals. Read: PSX climbs to new peak above 138,000 This rally follows Thursday's bullish momentum when the KSE-100 index surpassed the 138,000 milestone for the first time in history. Stock buying was observed across the board, with notable strength in auto, cement, fertiliser and energy sectors. Arif Habib Corp MD Ahsan Mehanti commented that stocks closed at an all-time high, driven by broad-based gains amid unconfirmed reports of a potential US president's visit on September 18, which was expected to strengthen bilateral trade ties. JS Global analyst Muhammad Hasan Ather stated that the historic rally at the PSX was driven by aggressive buying in energy, oil, fertiliser and pharmaceutical sectors, which was further fuelled by expectations of a rate cut in the upcoming monetary policy committee meeting. The rally was driven by heavy institutional flows, with local investors stepping in to scoop up, reigniting market momentum.
Express Tribune
4 days ago
- Business
- Express Tribune
PSX climbs to new peak above 138,000
Listen to article The Pakistan Stock Exchange (PSX) continued its bullish run on Thursday as the benchmark KSE-100 index soared past the 138,000 milestone for the first time in history, backed by deep investor interest and robust performance by heavyweight sectors. Stock buying was observed across the board, with notable strength in auto, cement, fertiliser and energy sectors. The momentum was driven primarily by institutional activity and the upbeat macroeconomic outlook. Among energy categories, oil and gas exploration, oil marketing, power generation and refining led the charge, pushing the index higher. Banking names like United Bank and National Bank also contributed significantly, while improved volumes and positive cues helped sustain investor interest. The index touched intra-day peak of 138,943.47 before settling at 138,665.50 at close, up sharply by 2,285.53 points, or 1.68%. Arif Habib Corp MD Ahsan Mehanti commented that stocks closed at an all-time high, driven by broad-based gains amid unconfirmed reports of a potential US president's visit on September 18, which was expected to strengthen bilateral trade ties. "Optimism about the resolution of tax issues through government-businessmen talks and improving economic indicators also supported the record rally at the PSX," he added. KTrade Securities, in its market wrap, wrote that the PSX experienced a strong session, with the KSE-100 index gaining 2,286 points (+1.68%) to close at a new all-time high of 138,665. The rally was led by strength in fertiliser, banking and technology sectors, where notable contributions came from Fauji Fertiliser, United Bank, Engro Fertilisers, Systems Ltd, Engro Holdings, Hub Power, Habib Bank and Lucky Cement, it said. JS Global analyst Muhammad Hasan Ather stated that the historic rally at the PSX was driven by aggressive buying in energy, oil, fertiliser and pharmaceutical sectors, which was further fuelled by expectations of rate cut in the upcoming monetary policy committee meeting. Investor sentiment was also lifted by a breakout from the three-day consolidation. While short-term profit-taking may emerge, the medium-term outlook remains bullish as economic recovery gains pace, liquidity improves and corporate earnings stay resilient, Ather forecast. Arif Habib Limited (AHL) observed that the KSE-100 index posted strong gains after testing support levels earlier in the week and edged closer to the 139,000 mark. Some 80 shares rose while 20 declined, with major gains coming from Fauji Fertiliser (+2.92%), United Bank (+2.82%) and Engro Fertilisers (+5%). On the flip side, Bank AL Habib (-0.86%), Thal Limited (-3.37%) and Habib Metropolitan Bank (-1.15%) were the biggest drags, it said. In corporate news, Pakistan Services (+10%) received an offer for 28% voting shares from AKD Group Holding. On the diplomatic front, Pakistan and El Salvador formally established bilateral relations, with particular focus on cryptocurrency collaboration, AHL mentioned. Among top stocks held by mutual funds, Oil and Gas Development Company (OGDC), Pakistan Petroleum Ltd (PPL) and Pakistan State Oil (PSO) led the list. OGDC topped with 62 mutual funds collectively holding 17.2% of its free float. PPL followed with 51 funds owning 15.5%, while PSO ranked third, held by 50 funds representing 29.7% of its free float. As the market heads into the final trading session of the week, the KSE-100 index is up 3.25% so far in the week, it concluded. Topline Securities, in its review, remarked that after catching their breath for two sessions, the bulls stormed back onto the trading floor, taking the benchmark KSE-100 index to intra-day high of 2,563 points before closing at a mighty 138,665, up 2,286 points. The rally was driven by heavy institutional flows, with local investors stepping in to scoop up, reigniting market momentum. Fertiliser stocks stole the limelight as the sector's giants posted hefty gains and contributed 563 points to the index, Topline mentioned. Overall trading volumes increased to 780 million shares as compared to Wednesday's tally of 706 million. The value of shares traded was Rs40 billion. Shares of 486 companies were traded. Of these, 306 stocks closed higher, 154 dropped and 26 remained unchanged. Pakistan International Bulk Terminal led the volumes chart with trading in 82.7 million shares, rising Rs0.4 to close at Rs10.09. It was followed by First Dawood Properties with 42.5 million shares, gaining Rs0.89 to close at Rs7 and Ghani Chemworld with 26 million shares, higher by Rs1.18 to close at Rs13.21. Foreign investors sold shares worth Rs350.4 million, the National Clearing Company reported.
Express Tribune
4 days ago
- Business
- Express Tribune
PSX extends rally, crosses 138,000-point mark
The Pakistan Stock Exchange (PSX) extended its bullish streak on Thursday, surpassing the 138,000-point level during intraday trade. The benchmark index gained 2,285.53 points, or 1.68%, to close at 138,665.49, up from a previous close of 136,379.96. It reached an intraday high of 138,943.47 and a low of 136,674.98. Total volume stood at 299.28 million shares, with market value hitting PKR 26.39 billion. Read: Bulls stage comeback on earnings' prospects Earlier on Wednesday, PSX rebounded as the KSE-100 index rose nearly 450 points over investor optimism about the ongoing corporate result season and the potential of a ratings upgrade. Market sentiment was buoyed by the anticipation of robust company results and attractive dividend announcements. According to Arif Habib Corp MD Ahsan Mehanti, stocks showed recovery in the earnings season rally on expectations of strong financial results, dividend payouts and potential Moody's upgrade amid strong economic recovery. KTrade Securities, in its report, wrote that profit-taking persisted at the PSX as the index experienced another mixed session. JS Global analyst Muhammad Hasan Ather commented that the KSE-100 index traded near record highs, rising 1,292 points to an intra-day high of 137,232 amid strong corporate earnings and optimism about Moody's ratings upgrade. Overall trading volumes stood at 705.9 million shares compared with Tuesday's tally of 879.1 million. The value of shares traded was Rs32.2 billion. Shares of 482 companies were traded. Of these, 223 stocks closed higher, 221 dropped and 38 remained unchanged.
Express Tribune
5 days ago
- Business
- Express Tribune
Bulls stage comeback on earnings' prospects
Listen to article Pakistan Stock Exchange (PSX) rebounded on Wednesday as the KSE-100 index rose nearly 450 points over investor optimism about the ongoing corporate result season and the potential of ratings upgrade. The benchmark index ended trading at 136,379.97, reflecting a gain of 440.10 points, or 0.32%. It came following a dip of 563 points in the previous session. Market sentiment was buoyed by anticipation of robust company results and attractive dividend announcements. Adding to the upbeat tone was speculation about credit rating upgrade by Moody's owing to signs of economic stabilisation. Also, the government's commitment to holding constructive dialogue with the industrial sector on budgetary concerns was seen as a favourable step. Buying activity was mainly concentrated in sectors like fertiliser and cement, which helped drive the index to intra-day high of 137,232. It later came off highs but still closed the day with modest gains. According to Arif Habib Corp MD Ahsan Mehanti, stocks showed recovery in the earnings season rally on expectations of strong financial results, dividend payouts and potential Moody's upgrade amid strong economic recovery. Government's affirmation of negotiations with industries over budget issues, along with reports about finance minister presenting compelling evidence to Moody's for ratings boost, fuelled the bullish close at the PSX, he said. KTrade Securities, in its report, wrote that profit-taking persisted at the PSX as the index experienced another mixed session. Despite the cautious mood, the KSE-100 managed to go up by 440 points (+0.32%). The rally was driven primarily by strong performance by the fertiliser sector, with notable contributions coming from Fauji Fertiliser Company (FFC), Engro Holdings and Engro Fertilisers. Looking ahead, the broader uptrend appears intact, though investors remain cautious amid concerns over potential tariff adjustments and the earnings season, it said. Topline Securities observed that Wednesday's session saw consolidation, with the index oscillating between intra-day high of 137,232 and intra-day low of 135,543 as investors booked profits, particularly in banking stocks. Support mainly came from FFC, Engro Holdings, Engro Fertilisers, Pakistan Services and Attock Refinery, which added 1,160 points. On the downside, UBL, Meezan Bank and MCB Bank erased 443 points, Topline added. JS Global analyst Muhammad Hasan Ather commented that the KSE-100 index traded near record highs, rising 1,292 points to intra-day high of 137,232 amid strong corporate earnings and optimism about Moody's ratings upgrade. Investor sentiment was buoyed by positive economic signals, including the falling inflation, a stable rupee and rising foreign reserves. Finance Minister Muhammad Aurangzeb's meeting with Moody's further reinforced confidence, he said. Overall trading volumes stood at 705.9 million shares compared with Tuesday's tally of 879.1 million. The value of shares traded was Rs32.2 billion. Shares of 482 companies were traded. Of these, 223 stocks closed higher, 221 dropped and 38 remained unchanged. Pakistan International Bulk Terminal was the volume leader with trading in 90.7 million shares, rising Rs0.96 to close at Rs9.69. It was followed by First Dawood Properties with 40.6 million shares, gaining Rs1 to close at Rs6.11 and DH Partners with 37.2 million shares, up Rs1.82 to close at Rs42.06. Foreign investors sold shares worth Rs696.4 million, the National Clearing Company reported.
