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Express Tribune
08-07-2025
- Business
- Express Tribune
PSX ends flat despite hitting peak at 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 profit at sharply higher valuations following a rapid surge of the market over the past few days, when it repeatedly touched new all-time highs. In the morning, the bourse kicked off trading on a positive note, however, it soon plunged to intra-day low of 132,696. The benchmark KSE-100 index recovered and continued to fluctuate frequently till midday. Afterwards, the market began a gradual ascent, surging to intra-day high of 134,200. Before the end of trading, investors resorted to profit-taking, which wiped off most of the day's gains. However, it still stood at an all-time high. According to Ahsan Mehanti of Arif Habib Corp, stocks closed higher ahead of major earnings' announcements next week due to receding fears of US trade tariffs as well as a 7.22% year-on-year surge in textile exports in FY25. Additionally, reports of a sharp decline in credit default swap (CDS), indicating lower default risks, along with higher US tariffs on competing exporters and rupee stability, played the role of catalysts in the new record close at the PSX, he stated. At the close of trading, the KSE-100 index recorded an increase of 33.04 points, or 0.02%, and settled at 133,403.19. In its review, Topline Securities noted that the local bourse blew hot and cold in Tuesday's trading session, swinging between extremes before settling almost flat. The KSE-100 index touched intra-day high of 830 points and low of 673 points, ultimately closing at 133,403, up a modest 33 points. After a strong streak of consecutive gains, the market paused for breath, with sector-wise profit-booking taking centre stage. Investors opted to lock in recent gains, leading to a mixed session that saw volatility across the board, it said. On the leaders' board, Habib Metropolitan Bank, Askari Bank, Meezan Bank, Indus Motor and MCB Bank emerged as key drivers, collectively contributing 222 points to the index. However, the upward momentum was partially offset by selling pressure in Fauji Fertiliser Company, Systems Limited, Engro Fertilisers and Mari Petroleum, which dragged the index down by 173 points, Topline added. In its report, Arif Habib Limited (AHL) commented that the PSX saw a flat session, despite rising above 134,000 earlier in the day. 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 was 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, the 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. JS Global analyst Muhammad Hasan Ather said that the KSE-100 index experienced a volatile session, closing slightly higher by 33 points at 133,403. The market initially showed strength by surpassing the 134,000 mark, but encountered selling pressure that dragged it back. With mixed results across sectors, the outlook remains positive and stability is expected due to improved economic conditions, he stated. 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. TPL Properties was the volume leader with trading in 96.7 million shares, gaining Rs1 to close at Rs10.72. It was followed by WorldCall Telecom with 64.4 million shares, inching up Rs0.05 to close at Rs1.6 and Hascol Petroleum with 47.7 million shares, rising Rs0.84 to close at Rs11.33. Foreign investors sold shares worth Rs543 million, the National Clearing Company reported.
Business Recorder
30-04-2025
- Business
- Business Recorder
Askari Zabardast Current Account: Sab Kuch Tou Hai Is Mein!
In a rapidly evolving financial landscape, modern banking demands more than just basic functionality — it calls for smart, seamless, and value-driven solutions. The Askari Zabardast Current Account rises to meet this challenge, delivering a comprehensive experience designed around your unique financial needs. Whether you are a salaried individual, a sole proprietor or managing a growing enterprise, this account empowers you with ease, efficiency, and unmatched features. With a bold promise at its core — Sab Kuch Tou Hai Is Mein! — It is not just a current account, it is the spirit of Zabardast banking. It ensures a banking experience that covers every essential need and offers more than you could imagine. It is a promise of Zabardast convenience — built to simplify, empower, and elevate your everyday banking. Zabardast Banking Solution for All The Askari Zabardast Current Account is designed to serve a diverse range of customer segments: Individuals (either singly or jointly) Sole Proprietors Partnership Small Enterprises Medium Enterprises Private & Public Limited Companies Corporate & Commercial Organizations Financial Institutions (FIs) Other Institutions (Armed forces etc.) Public Sector Enterprises (PSEs) NGOs/NPOs /Trust/Charitable Organizations etc. Free Zabardast Features A world of free services awaits you with the Askari Zabardast Current Account: A Debit Card is issued at no cost for individuals and sole proprietors. Your first cheque book, containing 25 leaves, is provided free of charge. You can make intercity and online cash deposits or withdrawals across the AKBL network without paying any fees. Transfer funds within Askari Bank without paying anything. You can get Banker's Cheques, issued without any service charges. E-Statements are accessible anytime, anywhere, without incurring a cost. Inter-bank fund transfers through RAAST are available to you at no charge. Internet Banking services are provided free for individuals and sole proprietors. Free Value-Added Services Maintain an average monthly balance of PKR 25,000 and enjoy the following value-added services at no extra charge: Your annual VISA Debit Card fee will be waived. You can request cheque books whenever needed, without incurring charges. No fees will apply on returned cheques. You'll receive SMS alerts for all over-the-counter (OTC) transactions. Complimentary accidental insurance or Takaful coverage will be provided. Duplicate account statements can be requested without any cost. Same-day and special clearing services are available to you free of charge. Intercity cheque clearing will not incur any additional charges. Avail stop payment facility without any service charges. Banker's Cheques can be cancelled without any associated charges. The Time Is Now – Get Your Askari Zabardast Current Account Today! Open your Askari Zabardast Current Account today! You can apply online by scanning the QR code or using the links below. You may also visit the nearest Askari Bank branch, or call us at (051) 111-000-787. Experience the freedom to manage your finances like never before because Sab Kuch Tou Hai Is Mein! Android: iOS:
Express Tribune
30-04-2025
- Business
- Express Tribune
Askari Zabardast Current A
In a rapidly evolving financial landscape, modern banking demands more than just basic functionality — it calls for smart, seamless, and value-driven solutions. The Askari Zabardast Current Account rises to meet this challenge, delivering a comprehensive experience designed around your unique financial needs. Whether you are a salaried individual, a sole proprietor or managing a growing enterprise, this account empowers you with ease, efficiency, and unmatched features. With a bold promise at its core — Sab Kuch Tou Hai Is Mein! — It is not just a current account, it is the spirit of "Zabardast" banking. It ensures a banking experience that covers every essential need and offers more than you could imagine. It is a promise of Zabardast convenience — built to simplify, empower, and elevate your everyday banking. Zabardast Banking Solution for All The Askari Zabardast Current Account is designed to serve a diverse range of customer segments: • Individuals (either singly or jointly) • Sole Proprietors • Partnership • Small Enterprises • Medium Enterprises • Private & Public Limited Companies • Corporate & Commercial Organizations • Financial Institutions (FIs) • Other Institutions (Armed forces etc.) • Public Sector Enterprises (PSEs) • NGOs/NPOs /Trust/Charitable Organizations etc. Free Amazing Features A world of free services awaits you with the Askari Zabardast Current Account: A Debit Card is issued at no cost for individuals and sole proprietors Your first cheque book, containing 25 leaves, is provided free of charge You can make intercity and online cash deposits or withdrawals across the AKBL network without paying any fees Transfer funds within Askari Bank without paying anything You can get Banker's Cheques, issued without any service charges E-Statements are accessible anytime, anywhere, without incurring a cost Inter-bank fund transfers through RAAST are available to you at no charge Internet Banking services are provided free for individuals and sole proprietors Free Value-Added Services Maintain an average monthly balance of PKR 25,000 and enjoy the following value-added services at no extra charge: Your annual VISA Debit Card fee will be waived You can request cheque books whenever needed, without incurring charges No fees will apply on returned cheques You'll receive SMS alerts for all over-the-counter (OTC) transactions Complimentary accidental insurance or Takaful coverage will be provided Duplicate account statements can be requested without any cost Same-day and special clearing services are available to you free of charge Intercity cheque clearing will not incur any additional charges Avail stop payment facility without any service charges Banker's Cheques can be cancelled without any associated charges The Time Is Now – Get Your Askari Zabardast Current Account today! You can apply online by using the links below. You may also visit the nearest Askari Bank branch, or call us at (051) 111-000-787. Experience the freedom to manage your finances like never before because Sab Kuch Tou Hai Is Mein! Android users visit here iOS users visit here
Business Recorder
28-04-2025
- Business
- Business Recorder
Askari Bank achieves ISO/IEC 27001:2022 certification
ISLAMABAD: Askari Bank Limited has achieved the ISO/IEC 27001:2022 certification, reinforcing its commitment to the highest standards of information security and data protection. This certification, awarded by RICI Pakistan Pvt. Ltd., underscores Askari Bank's proactive approach to safeguarding customer information, ensuring regulatory compliance, and enhancing operational security. Commenting on this significant achievement, Jawad Khalid Mirza, Chief Information Security Officer at Askari Bank Limited, stated, 'In today's rapidly evolving digital landscape, achieving ISO/IEC 27001:2022 certification is not just a technical endeavour; it's a strategic imperative. This achievement mitigates risks, ensures compliance, and fosters a culture of security.' The ISO/IEC 27001:2022 certification is a globally recognised standard that validates an organisation's ability to establish, maintain, and continually improve an Information Security Management System (ISMS). Copyright Business Recorder, 2025
