PSX closes up as State Bank leaves rate unchanged
The Pakistan Stock Exchange (PSX) witnessed a mixed session on Wednesday as investors remained cautious ahead of the State Bank of Pakistan's (SBP) policy rate announcement. However, late-session buying lifted the benchmark KSE-100 index by nearly 450 points.
The index fluctuated between the intra-day high of 139,018.88 and low of 137,658.81. It closed with a gain of 447.43 points, or 0.32%, at 138,412.25.
Sentiment shifted in the latter half of the session after the SBP unexpectedly maintained its benchmark policy rate, defying market expectations of a 50-basis-point cut. The decision triggered a broad-based rally in the banking sector, with notable gains in major names such as United Bank, Habib Bank, and MCB Bank.
Market Snapshot – July 30, 2025
Unlock today's market moves and stay one step ahead! pic.twitter.com/uQ7YqgWaL0 — PSX (@pakstockexgltd) July 30, 2025
'The market ended on a positive note as banks rallied following the SBP's announcement to keep the policy rate unchanged, contrary to market expectations of a cut of 50 basis points,' AKD Securities Director Research Mohammed Awais Ashraf told The Express Tribune. Additionally, Systems Limited surged after acquiring British American Tobacco's SAA services to fuel its future growth.
He expected interest rates to decline to single digits, supported by easing inflation and stability in the foreign exchange market due to lower debt repayments this year.
KTrade Securities, in its market wrap, wrote that stocks saw a mixed session as investors awaited the central bank's policy rate decision. The KSE-100 index fluctuated between the intra-day low of 137,659 and high of 139,019, eventually closing up by 447 points at 138,412.
Read More: SBP keeps interest rate at 11%
Late in the session, the SBP announced that it had kept the interest rate unchanged, citing inflationary pressures and concerns over the trade deficit. Market players also remained focused on a potential US-Pakistan trade deal, which is likely to be finalised soon, it said.
Arif Habib Limited (AHL) observed that the KSE-100 rose from the support zone to regain the 138k level. Some 41 shares rose, while 59 fell, with Systems Ltd (+6.9%), United Bank (+2.08%), and Habib Bank (+3.21%) contributing the most to index gains. On the contrary, Fauji Fertiliser (-0.7%), Lucky Cement (-1.51%), and Engro Holdings (-0.94%) were the biggest drags.
In corporate news, Engro Fertilisers announced 1HCY25 earnings per share (EPS) of Rs6.34 (+10% YoY) and a dividend of Rs6.50 per share, which came in line with expectations.
In financial news, Finance Minister Muhammad Aurangzeb is in the US to conclude trade talks, with final discussions this week, while the SBP held its benchmark rate steady for the second meeting amid inflation and tariff uncertainty, despite expectations of a reduction.
Overall trading volumes decreased to 425.8 million shares compared with Tuesday's tally of 606.3 million. Traded value stood at Rs25 billion. Shares of 476 companies were traded. Of these, 152 stocks closed higher, 290 fell, and 34 remained unchanged.
The Bank of Punjab led the volumes chart with trading in 24.8 million shares, rising Rs0.25 to close at Rs13.72.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
12 minutes ago
- Express Tribune
Pakistan, China reaffirm resolve to deepen bilateral ties
Listen to article Pakistan and China on Saturday reaffirmed their commitment to deepening bilateral relations and expanding cooperation across various sectors, amid growing regional and global challenges. The reaffirmation came during a meeting between Planning Minister Ahsan Iqbal and Chinese Vice Foreign Minister Sun Weidong in Beijing, where both sides discussed matters of mutual interest, with a particular focus on the second phase of the China-Pakistan Economic Corridor (CPEC). Iqbal praised Beijing's consistent support for Pakistan, especially during recent tensions with India, and commended China's leadership for its role in promoting global peace. He also described the Pakistan-China friendship as growing stronger 'with every passing day' and termed China's development model an inspiration for Pakistan. Also Read: Iranian president reaches Islamabad after paying tribute at Iqbal mausoleum Vice Foreign Minister Sun reiterated China's strong commitment to enhancing cooperation with Islamabad and expressed satisfaction with progress made under CPEC. He reaffirmed Beijing's intent to further strengthen strategic ties and deepen collaboration in political, economic, and regional affairs. The meeting underscored the long-standing partnership between the two countries, often described as 'all-weather' and 'ironclad,' and came days after a high-level interaction between the leadership of both nations. Last month, Chief of Army Staff Gen Syed Asim Munir met Chinese Foreign Minister Wang Yi during his visit to Beijing. The Chinese foreign minister had emphasized that Pakistan remains a diplomatic priority for China and reiterated support for Pakistan's efforts to combat all forms of terrorism. Wang expressed confidence in the Pakistani military's ability to ensure the safety and security of Chinese personnel, projects, and institutions across the country. He also reaffirmed China's readiness to work closely with Pakistan to implement the strategic consensus reached by the leadership of both sides and jointly promote regional peace and stability.
Express Tribune
3 hours ago
- Express Tribune
Gold soars to Rs359,000 per tola amid international spike
Listen to article Gold prices surged on Saturday, both internationally and in the domestic market, as investors flocked to the precious metal amid mounting global economic uncertainties. According to market data, the price of gold in the international bullion market rose by a staggering $61 per ounce, pushing the rate to an unprecedented $3,363 per ounce. The sharp uptrend reflects growing concerns over a weakening US dollar and fears of a potential global economic slowdown. In response to the international spike, domestic gold prices also recorded a significant increase. In Pakistan, the price of gold jumped by Rs6,100 per tola, reaching Rs359,000. Similarly, the rate for 10 grams climbed by Rs5,229 to settle at Rs307,784. On Friday, the per tola price had briefly dipped by Rs100, settling at Rs352,900 before rebounding sharply by the end of the day. Meanwhile, silver prices also posted gains, with the per tola rate rising by Rs53 to close at Rs3,953.
Business Recorder
5 hours ago
- Business Recorder
Gold price per tola gains Rs6,100 in Pakistan
Gold prices in Pakistan increased on Saturday in line with their gain in the international market. In the local market, the gold price per tola reached Rs359,000 after an increase of Rs6,100 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs307,784 after it gained Rs5,229. On Friday, the gold price per tola reached Rs352,900 after a loss of Rs100 during the day. The international rate of gold increased today. As per APGJSA, the rate was at $3,363 per ounce (with a premium of $20), a gain of $61. Meanwhile, the silver price per tola stood at Rs3,953, accumulating Rs53 during the day.
