Latest news with #PSXRegulations
Business Recorder
5 hours ago
- Business
- Business Recorder
KSE-100 settles with over 6,000 points gain amid ceasefire reports
Buying spree returned to the Pakistan Stock Exchange (PSX) as investors rejoiced after US President Donald Trump said Iran and Israel had agreed to a ceasefire, with the benchmark KSE-100 Index settling with a gain of over 6,000 points. Bullish momentum persisted throughout the trading session, pushing the KSE-100 Index to an intra-day high of 122,725.21. At close, the benchmark index settled at 122,246.63 level, an increase of 6079.16 points or 5.23%. 'This marks the second-highest single-day increase on a closing basis in terms of points,' said Arif Habib Limited (AHL), in a post. Earlier, following a 5% gain, trading activity at PSX halted for 1 hour, and the market opened at 12:31pm. 'All TRE Certificate Holders are hereby informed that due to a 5% increase in the KSE-30 index from the previous trading day's close of the index, a Market Halt has been triggered as per PSX Regulations,' read the notice. Across-the-board buying was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including HUBCO, ARL, SSGC, PSO, MARI, OGDC, PPL, POL, UBL and HBL traded in the green. 'The ceasefire announcement and a 3-4% drop in international oil prices are driving the buying rally at the bourse,' Sana Tawfik, Head of Research at AHL, told Business Recorder. 'The market believes the geopolitical situation will now come under control,' she added. Pakistan is aiming to secure $3.3 billion in the form of two foreign loans - one a syndicated loan and the other a refinancing of commercial loans from Chinese banks within the next few days. 'This will take FX reserves held by the SBP above the USD 14bn mark in FY25,' AHL said in its post-market commentary. Meanwhile, Waqas Ghani, Head of Research at JS Global, echoed similar sentiments. 'Market participants responded positively to Trump's ceasefire announcement aimed at easing Middle East tensions and a decrease in global oil prices. Widespread buying activity was witnessed across all sectors, driving a strong rally,' he said. Intense selling pressure gripped the PSX on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. Internationally, global shares rallied and the dollar extended declines on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Oil prices fell over 3%, having already slid 9% on Monday when Iran made a token retaliation against a US base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, U.S. crude futures fell another 3.4% to $66.15 per barrel, the lowest since June 11. Risk assets rallied, with S&P 500 futures up 0.6% and Nasdaq futures 0.9% higher. EUROSTOXX 50 futures jumped 1.3% and FTSE futures rose 0.4%. The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.8% while Japan's Nikkei rallied 1.4%. This is an intra-day update
Business Recorder
8 hours ago
- Business
- Business Recorder
KSE-100 surges over 5,600 points amid ceasefire reports
Buying spree returned to the Pakistan Stock Exchange (PSX) as investors rejoiced after US President Donald Trump said Iran and Israel had agreed to a ceasefire, with the benchmark KSE-100 Index gaining over 6,500 points, just seconds after market halt ended, during the intra-day trading on Tuesday. Bullish momentum persisted throughout the trading session, pushing the KSE-100 Index to an intra-day high of 122,725.21. At 2:10pm, the benchmark index was hovering at 121,809.78 level, an increase of 5,642.31 points or 4.86%. Earlier, following a 5% gain, trading activity at PSX halted for 1 hour, and the market opened at 12:31pm. 'All TRE Certificate Holders are hereby informed that due to a 5% increase in the KSE-30 index from the previous trading day's close of the index, a Market Halt has been triggered as per PSX Regulations,' read the notice. Across-the-board buying was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including HUBCO, ARL, SSGC, PSO, MARI, OGDC, PPL, POL, UBL and HBL traded in the green. 'The ceasefire announcement and a 3-4% drop in international oil prices are driving the buying rally at the bourse,' Sana Tawfik, Head of Research at Arif Habib Limited (AHL), told Business Recorder. 'The market believes the geopolitical situation will now come under control,' she added. Waqas Ghani, Head of Research at JS Global, echoed similar sentiments. 'Market participants responded positively to Trump's ceasefire announcement aimed at easing Middle East tensions and a decrease in global oil prices. Widespread buying activity was witnessed across all sectors, driving a strong rally,' he said. Intense selling pressure gripped the PSX on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. Internationally, global shares rallied and the dollar extended declines on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Oil prices fell over 3%, having already slid 9% on Monday when Iran made a token retaliation against a US base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, U.S. crude futures fell another 3.4% to $66.15 per barrel, the lowest since June 11. Risk assets rallied, with S&P 500 futures up 0.6% and Nasdaq futures 0.9% higher. EUROSTOXX 50 futures jumped 1.3% and FTSE futures rose 0.4%. The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.8% while Japan's Nikkei rallied 1.4%. This is an intra-day update
Business Recorder
10 hours ago
- Business
- Business Recorder
KSE-100 surges over 6,500 points amid ceasefire reports
Buying spree returned to the Pakistan Stock Exchange (PSX) as investors rejoiced after US President Donald Trump said Iran and Israel had agreed to a ceasefire, with the benchmark KSE-100 Index gaining over 6,500 points, just seconds after market halt ended, during the intra-day trading on Tuesday. At 12:35pm, the benchmark index was hovering at 122,723.80 level, an increase of 6,556.33 points or 5.64%. Earlier, following a 5% gain, trading activity at PSX halted for 1 hour, the market opened at 12:31pm. 'All TRE Certificate Holders are hereby informed that due to a 5% increase in the KSE-30 index from the previous trading day's close of the index, a Market Halt has been triggered as per PSX Regulations and all equity and equity-based markets have been suspended accordingly,' read the notice. Across-the-board buying was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including HUBCO, ARL, SSGC, PSO, MARI, OGDC, PPL, POL, UBL and HBL traded in the green. 'The ceasefire announcement and a 3-4% drop in international oil prices are driving the buying rally at the bourse,' Sana Tawfik, Head of Research at Arif Habib Limited (AHL), told Business Recorder. 'The market believes the geopolitical situation will now come under control,' she added. Waqas Ghani, Head of Research at JS Global, echoed similar sentiments. 'Market participants responded positively to Trump's ceasefire announcement aimed at easing Middle East tensions and a decrease in global oil prices. Widespread buying activity was witnessed across all sectors, driving a strong rally,' he said. Intense selling pressure gripped the PSX on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. Internationally, global shares rallied and the dollar extended declines on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Oil prices fell over 3%, having already slid 9% on Monday when Iran made a token retaliation against a US base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, U.S. crude futures fell another 3.4% to $66.15 per barrel, the lowest since June 11. Risk assets rallied, with S&P 500 futures up 0.6% and Nasdaq futures 0.9% higher. EUROSTOXX 50 futures jumped 1.3% and FTSE futures rose 0.4%. The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.8% while Japan's Nikkei rallied 1.4%. This is an intra-day update
Business Recorder
11 hours ago
- Business
- Business Recorder
KSE-100 surges over 5% amid ceasefire reports, triggering market halt
Buying spree returned to the Pakistan Stock Exchange (PSX) as investors rejoiced after US President Donald Trump said Iran and Israel had agreed to a ceasefire, with the benchmark KSE-100 Index gaining nearly 5,900 points during the intra-day trading on Tuesday. At 11:30am, the benchmark index was hovering at 122,045.62 level, an increase of 5,878.15 points or 5.06%. Following a 5% gain, trading activity at PSX halted for 1 hour, the market will open at 12:31pm. 'All TRE Certificate Holders are hereby informed that due to a 5% increase in the KSE-30 index from the previous trading day's close of the index, a Market Halt has been triggered as per PSX Regulations and all equity and equity-based markets have been suspended accordingly,' read the notice. Across-the-board buying was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including HUBCO, ARL, SSGC, PSO, MARI, OGDC, PPL, POL, UBL and HBL traded in the green. 'The ceasefire announcement and a 3-4% drop in international oil prices are driving the buying rally at the bourse,' said Sana Tawfik, Head of Research at Arif Habib Limited (AHL), told Business Recorder. 'The market believes the geopolitical situation will now come under control,' she added. Intense selling pressure gripped the PSX on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. Internationally, global shares rallied and the dollar extended declines on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Oil prices fell over 3%, having already slid 9% on Monday when Iran made a token retaliation against a US base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, U.S. crude futures fell another 3.4% to $66.15 per barrel, the lowest since June 11. Risk assets rallied, with S&P 500 futures up 0.6% and Nasdaq futures 0.9% higher. EUROSTOXX 50 futures jumped 1.3% and FTSE futures rose 0.4%. The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.8% while Japan's Nikkei rallied 1.4%. This is an intra-day update
Business Recorder
16 hours ago
- Business
- Business Recorder
Ecopack approves 2.03MW solar power project
KARACHI: In a major step towards embracing clean energy solutions, Ecopack Limited, a listed company specialising in the manufacturing and sale of Polyethylene Terephthalate (PET) bottles and preforms has announced plans to install a 2.03 megawatt (MW) solar power generation facility at its site. In a notice sent to the Pakistan Stock Exchange (PSX) on Monday, the company formally disclosed that its Board of Directors has approved capital expenditure (CAPEX) for the acquisition of land measuring 3.63 acres, alongside the installation of the solar power project. The initiative underscores Ecopack's commitment to reducing its environmental footprint and cutting operational energy costs through renewable energy integration. 'In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, the Board has approved the CAPEX for acquisition of land measuring 3.63 acres and the installation of a 2.03 MW solar power generation facility,' read the company's official statement. Ecopack Limited, incorporated in Pakistan as a limited liability company, primarily caters to the beverage and liquid packaging industry and has increasingly prioritized sustainable practices as part of its operational strategy. The development is a part of broader clean energy transition in Pakistan, where the adoption of solar power has gained considerable momentum in recent years. Despite being a developing economy facing significant fiscal and energy challenges, Pakistan has quietly emerged as one of the fastest-growing solar markets globally. According to the Pakistan Economic Survey 2024-25, the country's net-metering capacity surged to 2,813 MW as of March 31, 2025, reflecting the sharp increase in both industrial and residential solar installations. Meanwhile, this rapid adoption has prompted the federal government to revise its policy framework for the solar sector. In the federal budget for 2025-26, Finance Minister Muhammad Aurangzeb proposed an 18 percent sales tax on imported solar panels — a move aimed at supporting local manufacturing. However, following consultations with industry stakeholders, the government revised the General Sales Tax (GST) rate downward to 10 percent. Industry experts believe that initiatives like Ecopack's solar project not only demonstrate corporate responsibility but also signal the maturing of Pakistan's renewable energy sector, as businesses increasingly seek energy security and operational efficiency amid volatile fuel prices and frequent power shortages. Copyright Business Recorder, 2025
