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Business Recorder
2 days ago
- Business
- Business Recorder
PSX extends record rally
KARACHI: The Pakistan Stock Exchange (PSX) continued its record-breaking advance on Monday, 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 percent to close at an unprecedented 133,370 points on Monday, up from 131,949.07 points on Friday. The index hit an intraday high of 133,862 points before settling and maintained its upward trajectory throughout the session. On Monday, BRIndex100 closed at 13,547.14, gaining 111.24 points or 0.83 percent with a total volume of 742.83 million shares. Meanwhile, BRIndex30 settled at 39,742.37, up by 325.04 points or 0.82 percent, with a total volume of 398.64 million shares. Topline Securities observed that Monday's rally was fuelled by a strong performance in banking stocks amid expectations of robust earnings and dividend payouts for the June quarter. Textile stocks also advanced, likely supported by optimism over a potential tariff agreement with the United States. Among the top contributors to the day's gains were HBL, Fauji Fertilizer Company (FFC), Bank Alfalah (BAFL), MCB Bank, and Lucky Core Industries (LCI), collectively adding 476 points to the index. However, some pressure was witnessed from negative contributions by Adamjee Insurance (AICL), Engro Fertilizers (EFERT), and Mari Petroleum (MARI). Investor participation remained exceptionally strong, with total traded volume in the ready market swelling to 919.9 million shares, significantly higher than Friday's 733.07 million. The total traded value also rose sharply to Rs 45.31 billion, from the previous session's Rs 34.94 billion. In terms of market capitalization, Monday's trading session added a substantial Rs. 196.19 billion to the bourse's total market cap, which climbed from Rs. 15.91 trillion on Friday to Rs. 16.106 trillion. Leading the volume charts was Image Pakistan, with an impressive 48.08 million shares traded, as its share price climbed to Rs 36.32. Other actively traded stocks included Bank of Punjab with 42.51 million shares and WorldCall Telecom with 36.92 million shares to end at Rs 11.87 and Rs 1.55 respectively. Among the day's top gainers in individual stock prices was Hoechst Pakistan, which surged by Rs 158.11 to close at Rs 3,526.13, and Lucky Core Industries, which added Rs 158.05 to finish at Rs 1,738.51. On the downside, PIA Holding Company LimitedB shed Rs 1,882.55 to settle at Rs 21,787.59, while Unilever Pakistan Foods Limited lost Rs 247.84 to close at Rs 23,399.15. The broader market also painted a healthy picture. Out of 479 companies active in the ready market, 299 posted gains, 155 closed in the red, while 25 remained unchanged. The BR Automobile Assembler Index settled at 21,535.72, recording an increase of 34.06 points or 0.16 percent, with a total turnover of 7.60 million shares. The BR Cement Index ended the session at 10,712.65, gaining 118.51 points or 1.12 percent, while total traded volume stood at 48.65 million shares. The BR Commercial Banks Index closed at 38,167.41 after adding 539.54 points, reflecting a rise of 1.43 percent, with a hefty turnover of 118.70 million shares. The BR Power Generation and Distribution Index finished at 21,105.22, up by 56.76 points or 0.27 percent, with a total traded volume of 33.60 million shares. The BR Oil and Gas Index advanced by 39.52 points, or 0.32 percent, to close at 12,318.79, with a total turnover of 61.40 million shares. Lastly, the BR Technology & Communication Index settled at 3,086.65, marking a gain of 19.27 points or 0.63 percent, accompanied by a total volume of 91.94 million shares. Ahsan Mehanti, Director at Arif Habib Corporation, remarked that stocks closed at a new all-time high during the earnings season rally at PSX as fears over US trade tariffs receded following a trade agreement that prevented the implementation of a 29 percent duty on US exports. He added that investor sentiment was also lifted by surging foreign exchange reserves, relative rupee stability, and government deliberations on the privatization of state-owned enterprises (SOEs), all of which acted as catalysts for the market's record close. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
PSX: new milestone achieved
KARACHI: The Pakistan Stock Exchange (PSX) extended its bullish momentum on Friday, registering a fresh all-time high as investor confidence surged on the back of a strengthening rupee, rising foreign exchange reserves, and anticipation of upcoming corporate earnings. The benchmark KSE-100 Index gained a substantial 1,262 points, or 0.97 percent, to close at 131,949.07 points, setting a new historical record. The market opened on a positive note and maintained steady gains throughout the session, with the index touching an intraday high of 132,129.60 points before closing just below that mark. On Friday, BRIndex100 gained 98.02 points or 0.73 percent to close at 13,435.90 points with total volume clocking in at 572.73 million shares. Meanwhile, BRIndex30 increased by 109.79 points or 0.28 percent to settle at 39,417.33 points with total traded volume amounting to 315.68 million shares. According to Ahsan Mehanti, Director at Arif Habib Corporation, stocks closed bullish at a new all-time high as investors weighed rupee recovery and country's foreign exchange reserves reaching $19.87 billion amid improved inflows and growing political stability. Falling government bond yields and speculative interest ahead of major earnings announcements next week played a catalyst role in driving the market to record levels, he added. In terms of volumes, activity slowed down compared to the previous session. Total ready market turnover stood at 733.07 million shares, down from 899.84 million shares traded a day earlier. The traded value also declined to Rs 34.94 billion from Rs 43.25 billion on Thursday. However, Market capitalization witnessed a notable rise, climbing from Rs 15.767 trillion to Rs 15.910 trillion, reflecting a substantial gain of Rs 143 billion in a single session. Sector and stock-specific activity remained vibrant, with WorldCall Telecom leading the volumes chart by trading 58.25 million shares, closing at Rs 1.55. Bank Makramah followed with a turnover of 35.80 million shares, closing at Rs 5.12. Treet Corporation also saw robust interest, closing at Rs 23.93 on a volume of 29.71 million shares. In the gainers' category, PIA Holding Company again posted a massive gain of Rs 2,151.83, closing at Rs 23,670.14 per share. Unilever Pakistan Foods Limited also added Rs 46.99 to finish at Rs 23,646.99. On the other hand the major looser were Bhanero Textile Mills shedding Rs 32.82 to close at Rs 887.69 and Supernet Technologies Limited falling by Rs 23.40 to end at Rs 801.89. Overall, the market breadth remained positive, with 255 companies posting gains against 177 losers, while 41 remained unchanged out of 473 total traded companies in the ready market. The BR Automobile Assembler Index settled at 21,501.66 points, posting a gain of 419.02 points or 1.99 percent, with a total turnover of 11.53 million shares. The BR Cement Index closed at 10,594.14 points after adding 26.71 points or 0.25 percent, with total traded volume recorded at 15.38 million shares. The BR Commercial Banks Index posted a strong performance, rising by 1,219.51 points or 3.35 percent to finish at 37,627.87 points, accompanied by a healthy turnover of 103.84 million shares. The BR Power Generation and Distribution Index also ended higher by 76.94 points or 0.37 percent to close at 21,048.46 points, with a total volume of 13.38 million shares. On the other hand, the BR Oil and Gas Index declined by 79.56 points or 0.64 percent, settling at 12,279.27 points on a turnover of 39.92 million shares. Meanwhile, the BR Technology and Communication Index performed notably well, gaining 82.76 points or 2.77 percent up to close at 3,067.38, with total traded volume amounting to 121.30 million shares. Topline Securities in its commentary pointed out that the positivity in the market can be attributed to buying by institution on new allocation towards equity fund as indicated by National Clearing Company data. While, JS Global observed that broad-based buying dominated the session, with autos, banks, and power sectors leading the rally. The brokerage noted that investor sentiment stayed upbeat, driven by improving macroeconomic indicators and expectations of further monetary easing. Looking ahead, JS Global maintained a positive outlook for the market in the near term, citing supportive liquidity conditions, encouraging policy signals, and a resurgence of foreign interest in key sectors. However, it cautioned that intermittent consolidation phases could emerge as the benchmark index approaches technical resistance levels. Copyright Business Recorder, 2025
Business Recorder
02-07-2025
- Business
- Business Recorder
PSX achieves historic milestone
KARACHI: The Pakistan Stock Exchange (PSX) sustained its bullish momentum on Tuesday, with the benchmark KSE-100 Index registering another record closing mainly attributed to the macroeconomic stability with easing inflation and strengthening rupee, besides hopes of monetary easing in coming weeks. The benchmark KSE-100 Index surged by a remarkable 2,572.11 points or 2.05 percent to settle at an all-time high of 128,199.43 points. It opened on a firm note and maintained a steady upward trajectory throughout the session, peaking at an intra-day high of 128,475.70 points, and low of 126,113.28 points. BRIndex100 closed at 13,050.51 points, gaining 279.22 points or 2.19 percent with a total volume of 810.23 million shares. On the other hand, BRIndex30 edged up by 205.47 points or 0.54 percent to close at 38,499.52, with a total volume of 485.71 million shares. Topline Securities noted that KSE-100 Index rang in the new fiscal year with a bang, soaring at 128,199 points. Investor sentiment remained upbeat amid expectations of economic stability, a strengthening rupee, and hopes of monetary easing in the coming months. The local equity benchmark indices delivered another impressive performance, ending the day with significant gains driven by strong buying activity in the banking and fertilizer sectors, it added. The ready market volume stood at 1.032 billion shares, slightly lower than the 1.144 billion shares traded in the previous session. However, the traded value increased to Rs 44 billion, up from Rs 35.238 billion a day earlier. Meanwhile, the overall market capitalization posted a strong gain of Rs 233 billion, rising to Rs 15.472 trillion from Rs 15.239 trillion in the last session. Among the volume leaders, Kohinoor Spinning emerged as the most traded stock with 84.98 million shares changing hands with a closing rate Rs.6.39. It was closely followed by Bank of Punjab with 73.83 million shares and Sui Southern Gas Company with 69.16 million shares which closed at Rs 10.92 and Rs 44.73 respectively. Among the top gainers in the ready market were PIA Holding Company LimitedB, which jumped by an extraordinary Rs 1,616.70 to close at Rs 17,783.73, and Khyber Textile Mills Limited, which surged by Rs 118.44 to settle at Rs 1,374.41. On the other hand, the laggards included Unilever Pakistan Foods Limited, which dropped by Rs 223.33 to finish at Rs 23,390, and Supernet Technologies Limited, which declined by Rs 71.02 to close at Rs 844.28. Market breadth remained firmly positive. In the ready market, 233 scrips posted gains against 206 losses, while 40 closed unchanged among 479 total active companies. The BR Automobile Assembler Index finished at 20,542.80 points, gaining 110.64 points or 0.54 percent, with a total turnover of 8.41 million shares. The BR Cement Index, however, slipped by 67.78 points or 0.64 percent to close at 10,552.62, with 45.93 million shares traded. The BR Commercial Banks Index posted a strong performance, rising by 1,575.13 points or 4.67 percent to settle at 35,273.89, accompanied by a turnover of 180.05 million shares. Meanwhile, the BR Power Generation and Distribution Index added 79.84 points or 0.39 percent to close at 20,708.96, with a total volume of 17.35 million shares. The BR Oil and Gas Index also ended on a positive note, up 107.96 points or 0.9 percent to 12,057.89, with 98.51 million shares changing hands. Lastly, the BR Technology & Communication Index gained 58.48 points or 2 percent, closing at 2,981.18, with a total turnover of 119.46 million shares. According to Ahsan Mehanti of Arif Habib Corporation, stocks closed at a new all-time high amid upbeat data on CPI inflation, which eased to 3.4 percent year-on-year for June 2025, alongside government projections of rising exports and inflation ranging between 5-7 percent for FY26. He noted that the government's decision to abolish extra duties on industrial power tariffs and a sharp rise in global crude oil prices played a catalytic role in driving the bullish close at the Pakistan Stock Exchange. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
PSX edges lower
KARACHI: The Pakistan Stock Exchange (PSX) closed nearly unchanged on Monday, amid ongoing geopolitical tensions between Pakistan and India. The benchmark KSE-100 Index slightly decreased by 11.70 points to close at 114,102 points on Monday, down from 114,114 points in the previous session. The market opened on a negative note and remained under pressure, hitting an intraday high of 114,552.21 points and low of 113,077.67 points. Analysts said the benchmark index was quite volatile during session, falling by 1,036 points in early trading. However, it made a strong recovery in the second half, mainly supported by the cement sector, as investors expected a possible rate cut in the monetary policy announcement made. On Monday, BRIndex100 increased by 4.04 points to settle at 12,148.85 points with total share volume of 336 million. BRIndex30 gained 53.22 points or 0.15 percent to closed at 35,394.09 points with total volume of 229 million shares. Trading volume at the ready counter increased to 390 million shares, up from 372 million shares in the previous session. Similarly, the total traded value on the ready counter declined to Rs 20 billion compared to Rs 23.28 billion in the previous session. The market capitalization slightly increased by Rs 14 billion to Rs 13.822 trillion. Out of 452 active scrips, 240 closed in positive and 155 in negative while the value of 57 stocks remained unchanged. Power Cement was the volume leader with 41 million shares and closed at Rs 14.91 followed by WorldCall Telecom that closed at Rs 1.34 with 23.8 million shares. Maple Leaf ranked third with share trading of 23.5 million shares and it closed at Rs 71.60. PIA Holding Company LimitedB and Nestle Pakistan Limited the top gainers increasing by Rs 480.30 and Rs 288.09 respectively to close at Rs 5,283.26 and Rs 7,190.36, while Atlas Honda Limited and Bata Pakistan Limited were the top losers declining by Rs 25.19 and Rs 15.29, respectively to close at Rs 1,150.36 and Rs 1,564.71. BR Automobile Assembler Index closed at 22,343.12 points, recording a net gain of 285.29 points or 1.29 percent, with a total turnover of 4.58 million shares. The BR Cement Index ended the session at 9,669.29 points, up by 262.67 points or 2.79 percent, with a robust turnover of 120.65 million shares. BR Commercial Banks Index closed at 33,351.57 points, posting a decline of 327.43 points or 0.97 percent, with a total turnover of 25.81 million shares. BR Power Generation and Distribution Index settled at 19,152.52 points, down by 122.96 points or 0.64 percent, on a turnover of 20.89 million shares. The BR Oil and Gas Index finished at 11,007.54 points, losing 62.04 points or 0.56 percent, with a total turnover of 56.40 million shares. BR Technology & Communication Index closed at 4,827.83 points, down by 11.94 points or 0.25 percent, with a turnover of 38.33 million shares. Analysts at Chase Securities said that despite no escalation on both sides, tension between Pakistan and India is remains high, and rumors of the US changing travel advisories for India and Pakistan are affecting market sentiment. Anticipation of rate cut move spurred activity in cyclical stocks, particularly in the cement sector, where highly leveraged names like DGKC and Power Cement led the rally with gains of 4-7 percent. Copyright Business Recorder, 2025
Business Recorder
23-04-2025
- Business
- Business Recorder
Slight uptick in index
KARACHI: The Pakistan Stock Exchange (PSX) closed on a positive note Tuesday, with a slight uptick in the benchmark index driven by strong corporate earnings. The benchmark KSE-100 Index slightly increased by 47 points, or 0.04 percent, closing at 118,430 points on Tuesday up from 118,383 points on Monday. The daily volume at the ready counter rose significantly from 672 million shares in the previous session to 741 million shares. On Tuesday, BRIndex100 declined by 26.39 points or 0.21 percent to settle at 12,702.21 points with a total volume of 655 million shares. BRIndex30 closed at 38,139.05 points, which was 118.54 points or 0.31 percent lower than previous close. Total volume at BRIndex30 was 454.6 million shares. Similarly, the total traded value on the ready counter surged to Rs 30 billion compared to Rs 36.42 billion in the previous session. The market capitalization decreased by Rs 20 billion to Rs 14.444 trillion. Out of 451 active scrips, 214 closed in positive and 196 in negative while the value of 41 stocks remained unchanged. Ahsan Mehanti of Arif Habib Corp said stocks closed flat in late session pressure amid bearish trend in global equities, weak rupee and falling global crude oil prices. Strong financial results supported the index. Reports of expected SBP policy easing, govt's resolve over US tariff issues and release of IMF support tranche next month played catalyst role in positive close at PSX, he added. Bank of Punjab was the volume leader with 116.6 million shares and closed at Rs 10.45 followed by Power Cement closed at Rs 14.26 with 68 million shares. Pak Int Bulk ranked third with share trading of 59 million shares and it closed at Rs 9.92. PIA Holding Company Limited and Hoechst Pakistan Limited remained the top gainers increasing by Rs 224.80 and Rs 146.20 respectively to close at Rs 2,472.79 and Rs 3,158.50, while Pakistan Tobacco Company Limited and Supernet Technologies Limited were the top losers declining by Rs 47.93 and Rs 44.00 respectively to close at Rs 1,214.17 and Rs 748.24. Analysts at Topline said that investors' sentiment was buoyed by corporate results announced during today's session, although overall activity remained subdued due to cautious trends in international markets. The index's performance was largely supported by stocks such as FFC, ENGROH, HMB, AGP, and ATLH, which collectively contributed 733 points. Investor's participation remained strong, with 740 million shares traded and total market turnover reaching Rs 30 billion. BOP emerged as the volume leader, with 116 million shares exchanged. BR Automobile Assembler Index closed at 23,128.13 points, recording a gain of 122.41 points or 0.53 percent, with a total turnover of 5.60 million. BR Cement Index ended the session at 14,519.74 points, down 44.94 points or 0.31 percent, with a total turnover of 107.65 million. BR Commercial Banks' Index fell by 564.49 points or 1.64 percent, closing at 33,902.96 points, with a turnover of 143.64 million. BR Power Generation & Distribution Index edged up by 15.61 points or 0.08 percent, finishing at 20,328.28 points, with a total turnover of 20.79 million. BR Oil & Gas Index posted a minor decline of 4.4 points or 0.04 percent, closing at 11,802.06 points, with a turnover of 46.26 million. BR Technology & Communication Index advanced 29.9 points or 0.62 percent, ending the day at 4,869.18 points, with a total turnover of 50.72 million. According to JS Global, the KSE100 index up 47 points DoD, driven by robust corporate earnings and heightened investor confidence. Strong quarterly results and anticipations of favourable monetary policy adjustments including measures to ease debt tensions supported increased trading volumes and broad-based buying, he added. He said that this positive momentum suggests that if economic fundamentals and earnings continue to impress, the market could sustain its upward trajectory, offering an encouraging outlook for future trading sessions. Investors remain cautious lyoptimistic about upcoming fiscal developments. Copyright Business Recorder, 2025
