PSX loses momentum as investors opt for profit-taking
The Pakistan Stock Exchange (PSX) commenced the week with lacklustre trading on Monday as the benchmark KSE-100 index lost momentum owing to profit-taking by investors ahead of expiry of July-end contracts.
After fluctuating within a narrow range throughout the day, the benchmark index recorded a decrease of 379.78 points, or 0.27%, and settled at 138,217.58 by the close of trading.
In its market review, Topline Securities commented that the KSE-100 index settled at 138,218, down 380 points. 'The market remained range bound throughout the session, fluctuating between intra-day high of 139,201 and intra-day low of 138,150, as investors engaged in profit-taking ahead of July-end contract expiry,' it said.
Pressure on the index came from Fauji Fertiliser Company, United Bank Limited, Oil and Gas Development Company, Systems Limited and Hub Power, which dragged the market down by 438 points. On the other hand, HBL, Engro Fertilisers and Pakistan Aluminium Beverage Cans provided some support, contributing 152 points, Topline added.
Arif Habib Ltd Deputy Head of Trading Ali Najib remarked that the 135,000 level served as initial support for the KSE-100 index, backed by strong corporate earnings and consistent foreign inflows. 'If this level is breached, the index may drift towards the 132,000 mark, where compelling valuations and expectations of monetary easing could help revive investor sentiment and reignite buying interest,' he said.
Overall trading volumes decreased slightly to 608.2 million shares compared with Friday's tally of 609.4 million. The value of shares traded stood at Rs23.5 billion.
Shares of 479 companies were traded. Of these, 193 stocks closed higher, 245 decreased and 41 remained unchanged. First Prudential Modaraba topped the volumes chart with trading in 58.7 million shares, up 48 paisa to close at Rs4.98 per share.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
6 hours ago
- 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.
Business Recorder
7 hours ago
- Business Recorder
KSE-100 loses 562 points on profit-taking
After a positive start, profit-taking returned to the Pakistan Stock Exchange (PSX) on Thursday, with the benchmark KSE-100 Index closing the day lower by 562 points. The stock market opened on a positive note, taking the KSE-100 to an intra-day high of 139,867.82. However, selling pressure soon emerged, pushing the index to an intra-day low of 138,614.10. At close, the benchmark index settled at 138,692.67, down by 561.69 points or 0.40%. 'After a strong rally in recent sessions, the local bourse took a step back today as investors opted to lock in gains ahead of the final days of the rollover week,' brokerage house Topline Securities said in its post-market report. 'The session was marked by a tug-of-war between bullish sentiment and rollover-induced caution, with market participants leaning toward profit-booking. As rollover pressure mounts, choppy movements are likely to persist, with selective interest expected to dictate near-term direction.' Key drags on the index included FFC, HBL, ENGROH, MARI, and EFERT, collectively pulling the index down by 506 points. On the flip side, HUBC, MCB, and SYS lent some support, adding a combined 204 points, Topline said. On Wednesday, PSX came under mild pressure as investors opted for profit-taking. Investors appeared to reassess the sustainability of the recent bullish momentum, leading to a measured pullback in key sectors. The KSE-100 Index shed 165.26 points or 0.12%, settling at 139,254.36 points. Globally, shares in Asia rallied and the Australian dollar hit an eight-month high on Thursday as optimism over earnings and trade supported demand for higher-yielding assets. Tokyo's broad Topix gauge of shares hit an all-time high, following new records on Wall Street overnight, after a trade pact between Japan and the US stoked speculation more deals would appear soon to head off sweeping tariffs. Nasdaq and S&P futures rose after results by Google parent Alphabet beat estimates to kick off the 'Magnificent Seven' earnings season. The US has also reached deals with the Philippines and Indonesia, and an agreement with the European Union is also expected. The EU and US are closing in on a trade deal that would impose 15% tariffs on European imports, while waiving duties on some items, according to officials from the European Commission. Meanwhile, Treasury Secretary Scott Bessent said US and Chinese officials will meet in Stockholm next week. Results from Magnificent Seven members, whose results have powered indexes to previous peaks, are in the spotlight for guidance on spending and returns surrounding artificial intelligence (AI). Alphabet strongly beat estimates and cited massive demand for its cloud computing services as it hiked its capital spending plans. But electric car maker Tesla posted its worst quarterly sales decline in more than a decade and profit that trailed analyst targets. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3%. Japan's Topix surged for a second day, rising 1.4% to surpass its previous all-time high reached last year. Meanwhile, the Pakistani rupee strengthened against the US dollar, appreciating 0.19% in the inter-bank market on Thursday. At close, the currency settled at 284.22, a gain of Re0.54. Volume on the all-share index decreased to 648.80 million from 656.64 million recorded in the previous close. The value of shares declined to Rs28.12 billion from Rs32.09 billion in the previous session. was the volume leader with 113.03 million shares, followed by Media Times Ltd with 37.11 million shares, and WorldCall Telecom with 28.18 million shares. Shares of 484 companies were traded on Thursday, of which 182 registered an increase, 273 recorded a fall, while 29 remained unchanged.
Business Recorder
8 hours ago
- Business Recorder
First Dawood Properties divests over 2.2mn shares in 786 Investments Ltd
First Dawood Properties Limited shared on Thursday that it successfully divested 2,246,070 shares of 786 Investments Ltd. The company in a notice to the Pakistan Stock Exchange said that the shares were held in the blocked Central Depository Company account to generate coveted cash reserves. 'Now this amount is available to be invested in company's core business,' it wrote to the bourse. First Dawood Properties Limited is a public company incorporated in Pakistan under the repealed Companies Ordinance, 1984 (now replaced with the Companies Act, 2017). The company is primarily engaged in the business of real estate, properties, and/or any other businesses as mentioned in its Memorandum and Articles of Association.
