Latest news with #ThePakistanStockExchange
Express Tribune
2 days ago
- Business
- Express Tribune
PSX pauses at 145k after seven-week rally
Listen to article The Pakistan Stock Exchange (PSX) closed modestly lower on Friday as investors opted for profit-taking at the end of a robust week, with the benchmark KSE-100 index settling at 145,383, down 264 points, or 0.18%. The market's consolidation around the 145,000 level came as the State Bank of Pakistan reported a $72 million drop in foreign exchange reserves to $14.23 billion for the week ended Aug 1 – the third consecutive weekly decline, attributed to external debt repayments, said Arif Habib Ltd Deputy Head of Trading Ali Najib. Caution prevailed amid rising government bond yields, fresh trade data and monetary policy signals, prompting selective profit-booking. Heavyweights such as Engro Fertilisers, Lucky Cement, Systems Limited, Mari Petroleum and Hubco collectively shaved 399 points off the index, while renewed buying in Engro Holdings, Fauji Fertiliser Company, Oil and Gas Development Company and MCB Bank added 426 points. Market Snapshot – August 8, 2025 Unlock today's market moves and stay one step ahead! — PSX (@pakstockexgltd) August 8, 2025 Trading volumes held steady at 548 million shares while traded value stood at Rs45.5 billion. Pakistan Petroleum Limited (PPL) led the activity with 22 million shares changing hands. Despite Friday's dip, the KSE-100 extended its winning streak for a seventh straight week, surging 4,348 points, or 3.08%. The index opened the week at 141,963 points, touched intra-day high of 146,813 and low of 141,441 before closing at 145,383. Analysts expect some consolidation or a mild correction in the coming sessions, where 145,000 is seen as the first support level, followed by 143,000. Resistance remains at the 150,000 psychological mark.
Express Tribune
4 days ago
- Business
- Express Tribune
PSX's record rally continues on low deficit
Listen to article The Pakistan Stock Exchange (PSX) continued its record-breaking rally on Tuesday, with the benchmark KSE-100 index climbing 985 points to close at an all-time high of 143,037. The surge was fuelled by robust local and foreign inflows, broad gains across key sectors and positive fiscal data. Pakistan's fiscal balance improved sharply in FY25, recording a deficit of 5.38%, the lowest in nine years. It reinforced investor confidence and heightened optimism for the rest of the week. Ahsan Mehanti of Arif Habib Corp commented that stocks reached a new all-time high due to a strong earnings outlook. The government's approval of subsidies for the fully funded remittances scheme to ensure rupee stability, Nepra's hint at a negative industrial tariff adjustment and speculation about steps to settle circular debt in the power sector drove the bullish close at the PSX, he said. In its review, Topline Securities remarked that bulls continued to charge ahead as KSE-100 touched another record high, building on the previous day's momentum. The index soared to intra-day peak of 1,229 points, before settling at 143,037, higher by 985 points (+0.69%). Investor confidence remained buoyant, fuelled by robust local and foreign inflows and broad-based sector-specific rallies. Sentiment further strengthened as Pakistan reported a nine-year low fiscal deficit of 5.38% for FY25, with 36% year-on-year revenue growth outpacing an 18% rise in expenditures, beating both the government and IMF's 5.6% deficit forecast, Topline mentioned. The market's upward trajectory reflects optimism about fiscal discipline, macroeconomic stability and a strong earnings outlook, setting the stage for a sustained momentum in the sessions ahead, it added. In its commentary, Arif Habib Limited (AHL) observed that further upside could propel KSE-100 beyond 143,000, bringing it closer to the 145,000 weekly target. Some 55 shares rose while 45 fell, with Fauji Fertiliser Company (+2.08%), MCB Bank (+2.33%) and UBL (+1.03%) contributing the most to index gains. On the flip side, Pakistan Petroleum (-1.27%), Bank AL Habib (-1.14%) and PSO (-1.24%) were the biggest drags, it said. Additionally, cement dispatches in July 2025 increased 30.1% year-on-year to 4 million tonnes, up from 3.1 million tonnes in July 2024. Going forward, industry dynamics are expected to remain favourable, supported by construction activity, particularly as infrastructure and private housing projects are likely to pick up pace post-monsoon. Export momentum is likely to remain strong, given Pakistan's competitive clinker pricing in regional markets, while improved local demand should sustain high plant utilisation levels. Overall, these factors are expected to drive steady dispatch growth in the near term, AHL added. JS Global analyst Muhammad Hasan Ather stated that the KSE-100 index surged 0.7% to a record close at 143,037, driven by a strong corporate outlook, robust cement sector demand and renewed investor confidence following a reduction of Rs780 billion in power sector arrears. Improved liquidity, fiscal consolidation and sector-specific optimism, especially in cement and energy, are fuelling the bullish momentum. Barring external shocks, the upward trend is expected to continue, supported by earnings growth and improving macroeconomic indicators, Ather said. Overall trading volumes decreased to 549.7 million shares compared with Monday's tally of 666.4 million. Traded value decreased to Rs37 billion compared to Rs42.9 billion in the previous session. Shares of 484 companies were traded. Of these, 239 stocks closed higher, 217 dropped and 28 remained unchanged. Fauji Cement was the volume leader with trading in 31.7 million shares, gaining Rs1.86 to close at Rs49.51. It was followed by First Dawood Properties with 24.8 million shares, gaining Rs1 to close at Rs6.98 and Invest Bank with 18.1 million shares, gaining Rs0.29 to close at Rs7.77. Foreign investors sold shares worth Rs568.7 million, the National Clearing Company reported.
Express Tribune
5 days ago
- Business
- Express Tribune
Record rally continues as PSX takes cue from low fiscal deficit
Listen to article The Pakistan Stock Exchange (PSX) continued its record-breaking rally on Tuesday, with the benchmark KSE-100 index climbing 985 points to close at an all-time high of 143,037. The surge was fuelled by robust local and foreign inflows, broad gains across key sectors and positive fiscal data. Pakistan's fiscal balance improved sharply for FY25, recording a deficit of 5.38%, the lowest in nine years. It reinforced investor confidence and heightened optimism for the rest of the week. In its review, Topline Securities remarked that bulls continued to charge ahead as the KSE-100 index hit another record high, building on the previous day's momentum. The index soared to intra-day peak of 1,229 points, before settling at 143,037, up 985 points (+0.69%). Investor confidence remained buoyant, fuelled by robust local and foreign inflows and broad-based sector-specific rallies. Sentiment further strengthened as Pakistan reported a nine-year low fiscal deficit of 5.38% for FY25. It came with 36% year-on-year revenue growth that outpaced an 18% rise in expenditures, beating both the government and IMF's 5.6% deficit forecast, Topline mentioned. The market's upward trajectory reflects optimism about fiscal discipline, macroeconomic stability and a strong earnings outlook, setting the stage for sustained momentum in the sessions ahead. Major positive contributors included Fauji Fertiliser Company, UBL, MCB Bank, Hub Power and Engro Fertilisers, which collectively added 679 points to the index. On the downside, Pakistan Petroleum, Bank AL Habib and HBL shaved off 142 points, added the brokerage house. Overall trading volumes decreased to 549.7 million shares compared with Monday's tally of 666.4 million. Traded value dipped to Rs37 billion as compared to Rs42.9 billion in the previous session. Shares of 484 companies were traded. Of these, 239 stocks closed higher, 217 dropped and 28 remained unchanged. Fauji Cement was the volume leader with trading in 31.7 million shares, rising Rs1.86 to close at Rs49.51.
Express Tribune
28-07-2025
- Business
- Express Tribune
PSX ends modestly higher but couldn't hold 140k level
Listen to article The Pakistan Stock Exchange (PSX) closed modestly higher on Monday as the benchmark KSE-100 index rose 172.77 points, or 0.12%, to close at 139,380.06. Despite briefly crossing the 140,000 mark during early trade, profit-taking in banking-sector blue chips pulled the index below the threshold by the close of the session. Arif Habib Limited Deputy Head of Trading Ali Najib remarked that the PSX again attempted to pass the 140,000 mark but in vain as the KSE-100 index ended the day at 139,380 points. He pointed out that the session resumed on a buoyant note and the index touched intra-day high at 140,149 (up 942 points, or 0.68%) in early hours. However, the buying spree proved short-lived as the market succumbed to selling headwinds and ultimately lost the 140,000 level to profit-taking. Over the weekend, Foreign Minister Ishaq Dar stated that Pakistan and the US were 'very close' to finalising a trade deal, possibly within days. However, the US side, following Dar's meeting with Secretary of State Marco Rubio, did not confirm any timeline. If the deal is finalised, it could boost exports, attract investment and improve market sentiment. It may also likely strengthen the rupee and investor confidence, though delays could dampen immediate economic impact and optimism, Najib said. The stars of the day were Lucky Cement, Systems Limited, Fatima Fertiliser, Pakistan State Oil and Sazgar Engineering Works, which added 379 points. On the other hand, the index lost 384 points due to some selling in banking sector blue-chip stocks, namely UBL, Meezan Bank, Bank Alfalah, HBL and MCB Bank. 'This selling can be attributed to street expectations of a 50-basis-point cut in the upcoming monetary policy meeting, scheduled for July 30, the analyst said. 'The outlook is still intact as 137,000 will continue to act as strong support for the KSE-100. If breached, the index may be pushed towards 135k, where attractive valuations and anticipated monetary easing can trigger renewed buying interest,' Najib commented. Overall trading volumes decreased to 589.3 million shares compared with Friday's tally of 634.8 million. Traded value increased to Rs34.6 billion as compared to Rs24.6 billion in the previous session. Overall, shares of 483 companies were traded. Of these, 251 stocks closed higher, 205 dropped and 27 remained unchanged. Aisha Steel Mills was the volume leading with trading in 51.8 million shares, gaining 42 paisa to close at Rs12.76.
Express Tribune
24-07-2025
- Business
- Express Tribune
Profit-taking pulls PSX down after strong opening
Listen to article The Pakistan Stock Exchange (PSX) once again succumbed to profit-taking on Thursday as the benchmark KSE-100 index lost early gains to close down by over 550 points amid caution over futures rollover. The index surged to intra-day high of 139,868 shortly after the opening bell, reflecting investor interest across key sectors. However, the momentum proved short-lived as selling pressure emerged, pulling the index down by midday. Later, the index hit intra-day low at 138,614. Market participants pointed to profit-booking in heavyweight stocks ahead of corporate earnings announcements. At the end of trading, the KSE-100 index settled at 138,692.67, registering a notable loss of 561.69 points, or 0.40%. Market Snapshot – July 24, 2025 Unlock today's market moves and stay one step ahead! — PSX (@pakstockexgltd) July 24, 2025 KTrade Securities observed in its market wrap that stocks experienced a negative session as investors again locked in profits near recent highs. Selling pressure emerged later in the day amid caution over futures rollover and the earnings season, both of which are expected to drive increased volatility and keep sentiment in check. Among key laggards of the day were bank, fertiliser and energy stocks, it said. Topline Securities commented that after a strong rally in recent sessions, the local bourse took a step back on Thursday as investors opted to lock in gains ahead of final days of the rollover week. The KSE-100 index witnessed a volatile session, swinging between intra-day high of 613 points and low of 561 points, before closing at 138,693, down 562 points, it said. The session was marked by a tug-of-war between bullish sentiment and rollover-induced caution, with market participants leaning towards profit-booking. Amid mounting rollover pressure, Topline projected, choppy movements are likely to persist and selective interest is expected to dictate near-term direction. Fauji Fertiliser, Habib Bank, Engro Holdings, Mari Petroleum and Engro Fertilisers wiped out 506 points from the index. On the flip side, Hub Power, MCB Bank and Systems Limited lent some support, collectively adding 204 points, it added. Overall trading volumes decreased to 648.8 million shares compared with Wednesday's tally of 656.6 million. Traded value stood at Rs28.1 billion. Shares of 484 companies were traded. Of these, 182 stocks closed higher, 273 fell and 29 remained unchanged. The Bank of Punjab topped the volumes chart with trading in 113 million shares, rising Rs0.55 to close at Rs13.55.
