Latest news with #PakistanStockExchange
Business Recorder
2 days ago
- Business
- Business Recorder
PSX extends winning streak
KARACHI: The Pakistan Stock Exchange (PSX) ended the week on a positive note as investor sentiment stayed upbeat, fueled by optimism over the upcoming budget and fresh investment pledges pouring in from abroad. The benchmark KSE-100 Index rose by 719.69 points, or 0.60 percent, to close at an impressive 119,691 points, up from 118,971 points in the previous session. During the intraday trading, the index touched high level of 119,913 points and a low level of 118,772 points. On Friday, BRIndex100 ended at 12,842.51 points, which was 89.17 points or 0.7 percent higher than the previous close with the total volume of 489.356 million shares. BRIndex30 also increased by only 2.57 points or 0.01 percent to settle at 37,794.85 points with the total share trading volume of 79.666 million. Mubashir Anis, analyst at JS Global, credited the market's upward trajectory to improved investor sentiment driven by a stabilizing economic outlook and optimism surrounding the upcoming federal budget. He noted that this positive sentiment translated into a robust and broad-based rally throughout the trading session, with healthy participation from across key sectors. The total volume of the traded shares declined to 580.318 million on Friday as compared to 741.654 million shares on Thursday. While the traded value also declined to Rs 22.743 billion on Friday from Rs 23.911 billion on the last trading day. However, the overall market capitalization saw an increase of Rs 77 billion, reaching to Rs 14.503 trillion on Friday, compared to Rs 14.426 trillion on Thursday. Out of 474 actively traded companies, share prices of 259 companies rose, 161 declined, while 54 remained unchanged. Top positive contributions to the index came from FFC, MEBL, HUBC, PKGP, ENGROH and MCB, as they cumulatively contributed 668 points to the index. Among the top traded companies, WorldCall Telecom. ranked first with 79.666 million shares closing at Rs 1.37, followed by K-Electric Ltd, of which 47.700 million shares were traded and it closed at Rs 5.32. Cnergyico PK ranked third and closed at Rs 7.86 with 35.756 million shares turnover. PIA Holding Company LimitedB recorded the highest gains increase by Rs 2,670.41 and closed at a new high of Rs 29,374.54 followed by Khyber Textile Mills Limited whose share price value closed at Rs 2,790.71, up by Rs 253.70. Moreover, Rafhan Maize Products Company Limited and Sapphire Fibres Limited faced prominent losses with share values decreased by Rs 147.42 and Rs 61.74 respectively to close at Rs 9,960.91 and Rs 1,011.89. Meanwhile, BR Automobile Assembler Index closed at 21,287.33 points with a net negative change of 81.64 points or 0.38 percent with the total turnover remaining 3.613 million shares. BR Cement Index gained 90 points or 0.88 percent to settle at 10,317.36 points with a total turnover of 58.092 million. BR Commercial Banks Index closed at 34,990.77 points up by 291.51 points or 0.84 percent with a total turnover of 23.827 million shares. Meanwhile, BR Power Generation and Distribution Index ended at 20,362.78 points with a net positive change of 355.49 points or 1.78 percent with total turnover of 54.752 million shares. BR Oil & Gas Index closed at 11,508.64 points with a net negative change of 0.35 points on 26.888 million shares turnover. While BR Technology & Communication Index finished at 5,022.77 points marking a negative change of 26.32 points or 0.52 percent, with total turnover of 127.320 million shares. In its commentary, Darson Securities Ltd reported that the Pakistan Stock Exchange (PSX) experienced a range-bound trading session amid mixed investor sentiment driven by uncertainties surrounding upcoming Federal Budget. Despite an initial decline, buyers quickly asserted themselves, propelling the index by marking a gain of 942.47 points. While, Ahsan Mehanti of AHL said stocks closed bullish led by blue chip scrips in oil, banking and fertilizers sector amid hopes for positive federal budget announcements. Budgetary relief for oil refineries, real estate, agri-sector, proposed levy of 1.5pc tax on imports to support industries and rupee stability played a catalyst role in bullish close at PSX, he added. Copyright Business Recorder, 2025
Business Recorder
2 days ago
- 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
3 days ago
- Business
- Business Recorder
Upward momentum persists at PSX
Buying rally continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 100 points during the first half of the trading session on Friday. A bullish run was observed in the initial hours of trading, pushing the KSE-100 to an intra-day high of 119,503.12. At 12pm, the benchmark index was hovering at 119,041.35, an increase of 69.95 points or 0.06%. Positive momentum was observed in key sectors, including cement, chemicals, commercial banks, fertilisers, oil and gas exploration companies, OMCs, and power generation. Index-heavy stocks including HUBCO, NRL, PRL, PSO, MARI, OGDC, PPL, HBL, NBP, MCB and UBL traded in the green. On Thursday, the Pakistan Stock Exchange (PSX) closed in the green zone, as investors remained strong due to various domestic and international reasons. The benchmark 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%. This is an intra-day update
Business Recorder
3 days ago
- Business
- Business Recorder
Upward momentum persists, KSE-100 gains nearly 300 points in early trade
Buying rally continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 300 points during the opening hours of trading on Friday. At 10am, the benchmark index was hovering at 119,259.25, an increase of 287.85 points or 0.24%. Positive momentum was observed in key sectors, including cement, chemicals, commercial banks, fertilisers, oil and gas exploration companies, OMCs, and power generation. Index-heavy stocks including HUBCO, NRL, PRL, PSO, MARI, OGDC, PPL, HBL, NBP, MCB and UBL traded in the green. On Thursday, the Pakistan Stock Exchange (PSX) closed in the green zone, as investors remained strong due to various domestic and international reasons. The benchmark 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%. This is an intra-day update
Business Recorder
4 days ago
- Business
- Business Recorder
KSE-100 settles near 119,000 level
Positive momentum persisted at the Pakistan Stock Exchange (PSX), following a worldwide bull run sparked after a US court blocked President Donald Trump's tariffs, with the benchmark KSE-100 Index settling near the 119,000 level on Thursday. Buying was observed throughout the trading session, pushing the benchmark index to an intra-day high of 119,639.47. At close, the KSE-100 Index settled at 118,971.40, an increase of 638.50 points or 0.54%. Across the board buying was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks including HUBCO, MARI, OGDC, PPL, SNGPL, SSGC, MCB, MEBL and NBP traded in the green. On Tuesday, the PSX witnessed a slight recovery amid speculations in the pre-budget session and hopes for a real estate package in the federal budget led to cement stocks. The benchmark KSE-100 index gained 112 points or 0.09 percent, settling at 118,333 points. The stock market was closed on Wednesday on account of the Yaum-e-Takbeer holiday. Globally, Asian shares and Wall Street futures jumped in Asia on Thursday after a US federal court blocked President Donald Trump's 'Liberation Day' tariffs from going into effect, sending the dollar up on safe haven currencies. The little-known Manhattan-based Court of International Trade ruled that Trump overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. The White House quickly appealed the decision, and could take it all the way to the Supreme Court if needed, but in the meantime, it offered some hope that Trump might back away from the highest tariff levels he had threatened. Investors reacted by embracing equities and Japan's Nikkei quickly rose 1.7%, while South Korean shares gained 1.2% to a nine-month top. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3%, while Chinese blue chips firmed 0.5%. The ripples were felt worldwide as EUROSTOXX 50 futures rose 1.1%, while FTSE futures gained 0.7% and DAX futures 0.9%. S&P 500 futures climbed 1.6%, while Nasdaq futures rose 1.9%. The latter had already been lifted by relief over earnings from Nvidia, which beat sales estimates. The chipmaker and AI darling also projected strong revenues for the current quarter, sending its shares up 4.4% after hours.
