Latest news with #PSX
Express Tribune
16 hours 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.
Business Recorder
18 hours 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
a day ago
- Business
- Business Recorder
KSE-100 closes flat after hitting record intra-day high
The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index closed the week's last session nearly flat, as investors resorted to profit-taking after the index crossed 140,000 level for the first time during intra-day trading on Friday. The KSE-100 started the session positive, hitting record intra-day high of 140,585.39. However, profit-taking in the latter hours erased the earlier gains. At close, the benchmark index settled at 138,597.36, marginally lower by 68.14 points or 0.05. 'KSE-100 Index opened on a positive note and gained to make an intra-day high of +1,920 points (+1.38%) 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,' brokerage house Topline Securities said in its post-market report. Top positive contribution to the index came from FFC, UBL, ENGROH, PSEL, PABC & EFERT, as they cumulatively contributed 1,052 points to the index. On the other hand SYS, MEBL, HUBC, NBP and MARI, lost value to weigh down on the index by 345 points to the index. On Thursday, PSX had extended its bullish momentum, with the KSE-100 gaining 2,285 points or 1.68% to a new all-time closing high of 138,665.50. Market experts noted that the positivity was expected to continue, supported by positive economic indicators. 'Momentum is expected to continue amid the upcoming result season. However, there will be episodes of profit-taking as the market move towards consolidation,' Sana Tawfik, Head of Research at Arif Habib Limited, told Business Recorder earlier during the day. Internationally, Asian shares tracked Wall Street higher on Friday as still-strong US economic data and robust corporate earnings offset tariff worries, while the yen headed toward a second successive week of loss ahead of Japan's upper house election. Overnight, the S&P 500 and the Nasdaq again closed at record highs as US data, including retail sales and jobless claims, beat forecasts, indicating a modest improvement in the economy that should give the Federal Reserve time to gauge the inflation impact from higher US tariffs. Streaming giant Netflix beat Wall Street's lofty expectations for second-quarter earnings in part due to a weaker US dollar. Its share price, however, fell 1.8% in after-hours trading, with analysts saying much of the growth had already been priced in. On Friday, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8% to its highest since late 2021, bringing the weekly gain to 1.7%. Japan's Nikkei, however, slipped 0.2%, and the yen was at 148.54 per dollar, down about 0.7% this week after polls showed Prime Minister Shigeru Ishiba's coalition was in danger of losing its majority in the election on Sunday.
Express Tribune
2 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.
Business Recorder
2 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
