Latest news with #ThePakistanStockExchange
Express Tribune
3 days ago
- Business
- Express Tribune
PSX extends record rally as KSE-100 crosses 122,000 for first time
Listen to article The Pakistan Stock Exchange (PSX) continued its record-breaking momentum on Thursday, as the KSE-100 index surpassed the 122,000-point mark during intra-day trading for the first time in history. The market opened with the index at 121,886.21. During the session, the index reached a high of 122,281.58 before settling at 121,886.21. The lowest point observed during trading was 121,517.90. Trading volume stood at 82,723,154 shares, with a total transaction value of 4,622,969,368. The market's previous close was 121,798.86. Read: PSX extends record run as KSE-100 closes above 121,000 points for first time This follows the historic milestone of the PSX closing above 121,000 points for the first time just the day before. The recent uptick at the Pakistan Stock Exchange (PSX) comes after the Asian Development Bank (ADB) approved an $800 million financial package for Pakistan under its Resource Mobilization Reform Program (Subprogram-II). The package includes a $300 million policy-based loan and a $500 million program-based guarantee, boosting investor confidence. Earlier, ADB had delayed the package's approval by five days at India's request, as New Delhi sought time to review the loan documents—highlighting procedural loopholes in the bank's framework that permit such deferrals. Read more: ADB approves $800m financial package for Pakistan Yesterday, Ahsan Mehanti of Arif Habib Corp, speaking to The Express Tribune said that stocks closed at an all-time high led by scrips across the board after the ADB loan approval, the growth target and PSDP allocation. He added that expectations of budgetary relief for oil refineries, real estate and agriculture, along with the rupee's recent gains, played a key role in driving investor optimism.
Express Tribune
5 days ago
- Business
- Express Tribune
PSX closes above 120,000 points for first time
Listen to article The Pakistan Stock Exchange (PSX) closed at a record high, with the KSE-100 index ending the day at 120,450.87, marking its first-ever close above 120,000 points. The market gained 1,573.07 points or 1.32%, reaching an intra-day high of 120,693.83 and a low of 119,129.51. Trading volume stood at 315,235,806 shares, with a total value of 20,897,236,653. The previous close was 118,877.80. Record-breaking bullish sentiment comes ahead of Pakistan's budget this month. Earlier on Monday, the KSE-100 index experienced significant volatility, with an intra-day high of 1,018 points and a low of 899 points, ultimately closing at 118,878, down by 813 points (0.68%). The decline was mainly attributed to concerns over proposed tax hikes on banking and saving schemes, additional petroleum levies, and rising inflation. The Consumer Price Index (CPI) increased by 3.5% year-on-year in May due to higher food prices, dampening market sentiment. Analysts, including Ahsan Mehanti of Arif Habib Corp, noted that the bearish market was driven by uncertainty ahead of the FY26 budget, geopolitical tensions, and fluctuations in the rupee. Topline Securities highlighted that selling pressure came from concerns about a potential 2-3% tax hike on passive income. While some stocks like Pakgen Power, National Foods, Meezan Bank, and National Bank of Pakistan supported the index, stocks like Systems Limited, Engro Holdings, and Pakistan Petroleum weighed it down. Trading volume decreased to 497.9 million shares from 580.3 million on the previous day. The market saw mixed performance, with 29 stocks rising, 71 falling, and 464 companies traded overall. Dewan Cement was the volume leader, while foreign investors sold shares worth Rs1.97 billion. Analysts are cautious, suggesting that the market may face continued pressure in the short term, but it could present a buying opportunity in certain sectors like cement, automobile, and fertilizers.
Express Tribune
08-05-2025
- Business
- Express Tribune
War tensions trigger PSX slide
Shares of 340 companies were traded. At the end of the day, 93 stocks closed higher, 233 declined and 14 remained unchanged. PHOTO: FILE Listen to article The Pakistan Stock Exchange (PSX) continued its downtrend and endured a turbulent start to Wednesday's session, with the KSE-100 Index nosediving over 6,500 points shortly after the open, dragged lower by heightened border tensions. The market briefly touched a low of 107,007.68 before staging a partial rebound, ultimately climbing to an intra-day high of 112,457.38 and closing the day over 3,500 points down. Selling was broad-based, with intense pressure seen in key economic sectors such as banking, energy exploration, oil marketing, power generation, and refining. AKD Securities Director Research Muhammad Awais Ashraf told The Express Tribune recent Military escalation between Pakistan and India has shaken investor confidence, though some see a buying opportunity, citing low war risk due to nuclear deterrents and urgent external financing pressures. JS Global Head of Equity Research Waqas Ghani said the index dropped 6,500 points before closing 3,559 lower, with the rebound showing investor confidence in fundamentals and hopes of de-escalation improving sentiment ahead. Arif Habib Corp MD Ahsan Mehanti wrote in his brief note, "Stocks closed sharply lower amid escalating border tensions between Pakistan and India, and security unrest following Indian strikes." Weak rupee and uncertain economic outlook amid the Pak-India conflict over trade ties played the role of catalyst in the bearish close, he remarked. At the close of trading, the benchmark KSE-100 index posted a massive loss of 3,559.48 points, or -3.13%, and settled at 110,009.03. Topline Securities wrote in its review that the benchmark index saw significant volatility, dropping by 6,561 points in early trade amid broad-based panic selling following an overnight military clash between Pakistan and India. The downward trajectory of the index was largely driven by negative contributions from key stocks such as cement, energy, bank, and technology, which collectively dragged the index down by 967 points, Topline noted. Arif Habib Limited (AHL) wrote in its report said that the KSE-100 index saw a sharp decline of 3.13% day-on-day, precisely hitting the 110k downside target. Only 5 shares advanced while 95 declined. Lucky Cement (-5.69%), Hub Power (-4.64%), and United Bank (-2.6%), were the majors laggards on index's fall. On the other hand, Pakgen Power (2.48%), Nestle Pakistan (1.63%), and Murree Brewery (2.22%), resisted the broader negative trend, it said. Geopolitical tensions escalated following reports of Indian strikes inside Pakistan that discouraged investor sentiment. Wednesday's session also opened with another "New Day Opening Gap" — the third visible gap since the index peaked at 120k - reinforcing clear bearish order flow, AHL added. Insight Securities Head of Sales Ali Najib wrote that border tensions rattled investor confidence, triggering panic selling even before the market officially opened. Though the index plunged over 5.7% within minutes of opening, value hunters swiftly stepped in to help market stage a partial recovery. Overall trading volumes increased to 550.2 million shares compared with Tuesday's tally of 420.6 million. Shares of 447 companies were traded. Of these, 49 stocks closed higher, 356 fell and 42 remained unchanged. WorldCall Telecom was the volume leader with trading in 53.7 million shares, falling Rs0.11 to close at was followed by The Bank of Punjab with 35.8 million shares, losing Rs0.61 to close at Rs9.18 and Sui South Gas Company with 26.8 million shares, dipping by Rs3.61 to close at Rs32.47. During the day, foreign investors bought shares worth Rs194.7 billion, the NCCPL reported.
Express Tribune
04-05-2025
- Business
- Express Tribune
PSX ends volatile week amid border tensions
Listen to article The Pakistan Stock Exchange (PSX) remained under pressure throughout the week, with the benchmark KSE-100 index shedding 1,355 points to close at 114,114 amid escalating geopolitical tensions. A mid-week plunge of 3,546 points on Wednesday underscored investor unease, particularly around rising hostilities in the region. However, market sentiment found some reprieve by Friday, rebounding 2,787 points day-on-day, following signals of de-escalation and optimism around Pakistan's upcoming International Board Meeting (IMF) board review scheduled for May 9. On the macroeconomic front, inflation in April slowed to a historic low of 0.28% year-on-year (YoY), bringing the 10MFY25 average to 4.73%, compared to 25.97% in the same period last year. Meanwhile, investor activity remained subdued with average volumes down 29% week-on-week (WoW), and foreign outflows totalled $6.8mn, primarily in commercial banks and E&Ps. Looking ahead, market participants await the May 5 Monetary Policy Committee (MPC) meeting, where a 50 basis point rate cut is anticipated, potentially lifting investor sentiment further. On a day-to-day basis, on Monday, the KSE-100 index recorded a decrease of 1,405.45 points, or 1.22%, and settled at 114,063.90 amid escalating Pak-India tensions. On Tuesday, stocks rallied at the PSX, reversing early losses to close significantly higher amid renewed investor optimism driven by reports of an upcoming the IM meeting to discuss critical loan disbursements, alongside easing regional tensions and anticipated policy support. The benchmark KSE-100 index recorded an increase of 808.28 points, or 0.71%, and settled at 114,872.18. On the next day, bears went on a wild rampage at the PSX, dragging the benchmark KSE-100 index down by 3,545.60 points, or 3.09%, and settled at 111,326.58 as Pakistan-India war fears and policy rate uncertainty triggered massive sell-off. On Friday, market opened after the "May Day" holiday and staged a sharp recovery, with the benchmark KSE-100 index surging 2,787.36 points, or 1.2% 1.2% week-on-week (WoW) settling at 114,113.94 as investors reacted positively to a mix of encouraging developments including easing regional tensions, record-low inflation data, and renewed hopes of monetary policy easing by the State Bank of Pakistan (SBP). JS Global Syed Danyal Hussain wrote falling global oil prices led the government to decrease petrol and HSD prices by Rs2/litre. Furthermore, the IMF announced that they will consider Pakistan's request for approval of a $2.3billion package on May 9, including $1.3billion for climate resilience and sustainable development. Pakistan's tax collection target fell short by Rs833billion in 10MFY25, breaching the IMF-set tax shortfall limit by Rs193billion. In other news, the govt has decided to reduce its power procurement plans from 14,000MW to 7,000MW, aiming to save Rs4.7trillion. Arif Habib Limited (AHL), wrote in its weekly report that the market remained under pressure throughout the week, extending its bearish spell from last week due to ongoing geopolitical tensions and wiped off 3,546points day-on-day (DoD) on Wednesday. Amidst this, the announcement of the IMF Executive Board meeting schedule to review and approve the disbursement of $1billion under the ongoing EFF (First Review), along with an additional arrangement of $1.3billion for Resilience and Sustainability Facility, cushioned the overall decline. On Friday, the market rebounded, gaining 2,787points DoD amid growing expectations of a de-escalation in geopolitical tensions. On the economic front, inflation in April, 2025 depicted a meagre jump of 0.28% YoY (an all-time low), bringing the 10MFY25 average inflation to 4.73%, compared to 25.97% in 10MFY24. Meanwhile, in the T-bill auction held this week, the SBP raised Rs562billion (surpassing the target of PKR 400billon), with the cut-off yield for the 1M tenor decreasing by 17bps. Albeit, the market closed at 114,114pointsts, shedding 1,355points, or 1.2% WoW. Sector-wise negative contributors were exploration & production, (474pts), cement (289points), pharmaceuticals (258points), fertiliser (256points), and automobile assembler (129points). During the week, foreign investors sold shares worth $6.8million compared to a net buying of $2.09million last week.
Express Tribune
02-05-2025
- Business
- Express Tribune
Bulls return to PSX as shares surge over 2,600 points
Listen to article The Pakistan Stock Exchange (PSX) bounced back strongly on Friday, reversing some of the losses sustained in the previous day's sharp sell-off. The benchmark KSE-100 Index climbed 2,627.98 points, or 2.36%, to reach an intraday high of 114,250.59, up from Thursday's close of 111,326.57. At 12:40pm, the index was trading at 113,954.55 points. Market sentiment improved notably as investors returned to buying, driven by bargain-hunting and renewed confidence after the prior session's volatility. On last working day, the PSX experienced a steep sell-off as geopolitical tensions with India escalated sharply. The benchmark KSE-100 Index plummeted by over 3%, shedding more than 3,500 points amid fears of military conflict. Investor sentiment was rattled following a warning by Information Minister Attaullah Tarar, who claimed India might launch military action within 24 to 36 hours. Global outlets like Bloomberg highlighted the impact on Pakistan's financial markets, noting underperformance in stocks, rupee volatility, and declining dollar bonds.
