PSX ends flat despite hitting peak above 134k
Pakistan Stock Exchange (PSX) shot up to a new peak above 134,000 points in intra-day trading on Tuesday, but it could not sustain the momentum and closed almost flat.
Investors offloaded their holdings to book profits at sharply higher valuations following a rapid surge in the market over the past few days, during which it repeatedly touched new all-time highs.
In the morning, the bourse kicked off trading on a positive note, but it soon plunged to an intra-day low of 132,696. The benchmark KSE-100 index recovered and continued to fluctuate frequently until midday.
Afterwards, the market began a gradual ascent, surging to an intra-day high of 134,200. Before the end of trading, investors resorted to profit-taking, which wiped out most of the day's gains.
The KSE-100 index closed higher by just 33.04 points, or 0.02%, settling at 133,403.19.
In its report, Arif Habib Limited (AHL) commented that the PSX saw a flat session on a day-on-day basis, despite rising above 134,000 earlier in the trading session.
Market Snapshot – July 8, 2025
Unlock today's market moves and stay one step ahead! pic.twitter.com/ZDz0arTFmi — PSX (@pakstockexgltd) July 8, 2025
Some 41 shares rose while 57 fell, with Habib Metropolitan Bank (+3.87%), Askari Bank (+6.16%), and Meezan Bank (+0.95%) contributing the most to index gains. On the flip side, Fauji Fertiliser Company (-0.52%), Systems Limited (-1.09%), and Engro Fertilisers (-0.91%) were the biggest drags, it said.
The brokerage house noted that the KSE-100 index is projected to deliver a 27.4% return in FY26. Earnings growth for the fiscal year is expected to be 14%, excluding banks and exploration and production firms. However, overall earnings expansion, including all sectors, is projected at approximately 9.2%.
'Near-term index support now resides at 132,000 to 133,000, where upside is expected to resume,' AHL added.
Overall trading volumes increased to 1.2 billion shares, compared with Monday's tally of 919.9 million. The value of shares traded was Rs42 billion. Shares of 480 companies were traded. Of these, 217 stocks closed higher, 231 dropped, and 32 remained unchanged.
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Express Tribune
9 hours ago
- Express Tribune
PSX ends flat despite hitting peak above 134k
Listen to article Pakistan Stock Exchange (PSX) shot up to a new peak above 134,000 points in intra-day trading on Tuesday, but it could not sustain the momentum and closed almost flat. Investors offloaded their holdings to book profits at sharply higher valuations following a rapid surge in the market over the past few days, during which it repeatedly touched new all-time highs. In the morning, the bourse kicked off trading on a positive note, but it soon plunged to an intra-day low of 132,696. The benchmark KSE-100 index recovered and continued to fluctuate frequently until midday. Afterwards, the market began a gradual ascent, surging to an intra-day high of 134,200. Before the end of trading, investors resorted to profit-taking, which wiped out most of the day's gains. The KSE-100 index closed higher by just 33.04 points, or 0.02%, settling at 133,403.19. In its report, Arif Habib Limited (AHL) commented that the PSX saw a flat session on a day-on-day basis, despite rising above 134,000 earlier in the trading session. Market Snapshot – July 8, 2025 Unlock today's market moves and stay one step ahead! — PSX (@pakstockexgltd) July 8, 2025 Some 41 shares rose while 57 fell, with Habib Metropolitan Bank (+3.87%), Askari Bank (+6.16%), and Meezan Bank (+0.95%) contributing the most to index gains. On the flip side, Fauji Fertiliser Company (-0.52%), Systems Limited (-1.09%), and Engro Fertilisers (-0.91%) were the biggest drags, it said. The brokerage house noted that the KSE-100 index is projected to deliver a 27.4% return in FY26. Earnings growth for the fiscal year is expected to be 14%, excluding banks and exploration and production firms. However, overall earnings expansion, including all sectors, is projected at approximately 9.2%. 'Near-term index support now resides at 132,000 to 133,000, where upside is expected to resume,' AHL added. Overall trading volumes increased to 1.2 billion shares, compared with Monday's tally of 919.9 million. The value of shares traded was Rs42 billion. Shares of 480 companies were traded. Of these, 217 stocks closed higher, 231 dropped, and 32 remained unchanged.
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New milestone at PSX, KSE-100 crosses 134,000 level
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Bulls return to PSX, KSE-100 inches near 134,000 level
After witnessing selling pressure in the early hours of trading, bulls returned to the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index gaining over 600 points during intraday trading on Tuesday. At 1:35pm, the benchmark index was hovering at 133,975.57 level, an increase of 605.43 points or 0.45%. Buying was observed in key sectors including automobile assemblers, commercial banks, cement, OMCs and power generation. Index-heavy stocks, including HUBCO, SSSGC and SNGPL traded in the green. On Monday, PSX continued its record-breaking advance, as the market's bullish sentiment, buoyed by strong corporate earnings expectations, receding trade-related anxieties, and improved macroeconomic indicators. The benchmark KSE-100 Index surged by 1,421 points or 1.08% to close at an unprecedented 133,370 points. Globally, Asian stock markets took in stride the latest twist in US President Donald Trump's tariff roll-out on Tuesday, as the dollar held onto gains and oil retreated. Shares on Wall Street fell after Trump sent letters to 14 countries, including Japan and South Korea, unveiling sharply higher tariffs on imports into the United States, while also postponing their implementation to August 1. Japan's Nikkei stock gauge opened lower but then turned positive after Trump described that deadline as 'firm, but not 100% firm' and said tariffs may be adjusted for some countries. In April, Trump capped all of the so-called reciprocal tariffs with trading partners at 10% until July 9 to allow for negotiations. Only two agreements, with Britain and Vietnam, have been reached. In June, Washington and Beijing agreed on a framework covering tariff rates, restoring a fragile truce in their trade war. Tariffs on Japan and South Korea are now due to go up to 25% on August 1. Japanese Prime Minister Shigeru Ishiba called the hike deeply regrettable and said his nation would continue negotiations with the US. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2% in early trade. Japan's Nikkei stock index rose 0.4% while South Korea's KOSPI jumped 1.5%. This is an intra-day update
