Latest news with #KSE-100Index
Business Recorder
2 days ago
- Business
- Business Recorder
KSE-100 beats US, India & Germany to emerge among top global performers in FY25
Pakistan Stock Exchange (PSX) emerged as one of the top-performing stock markets in the world during FY25, with the benchmark KSE-100 Index delivering a robust 55.5% return in USD terms, securing the third spot globally, revealed Arif Habib Limited (AHL) in its latest report. Only Ghana's GGSECI Index, offering a 140.7% return and Slovenia's SBITOP Index (56.7%) performed better than KSE-100 during the outgoing fiscal year, data released by the brokerage house showed. In comparison to other global markets, Pakistan outperformed major developed and emerging economies. The US Nasdaq Index returned 14%, Germany's DAX 46.9%, India's Sensex 3.2%, and Japan's Nikkei 12.8%. Most regional markets trailed far behind, with countries like Turkey and Bangladesh posting negative returns of -28.1% and -13.6% respectively. During the outgoing fiscal, the KSE-100 Index delivered a stellar performance, surging by 58.6% in PKR terms and an impressive 55.5% in USD terms to close at 124,379, up from 78,445 at the end of FY24. 'This remarkable rally was driven by aggressive monetary easing, improved market liquidity, and the unlocking of fundamental value across key sectors,' said AHL. Regional portfolio investment As per the report, widespread net selling by foreigners was observed across all listed regions in FY25. Taiwan recorded the highest outflow at $28,783 million, followed by South Korea at $23,577 million, and India at $11,263 million. Outflows were also seen in Malaysia at $3,546 million, Vietnam at $3,101 million, and Thailand at $3,207 million. Relatively smaller net sells were recorded in Indonesia at $1,634 million, Philippines at $477 million. Meanwhile, Pakistan saw an outflow of $300 million. 'Possible reasons for this uniform net selling trend include geopolitical tensions, reciprocal tariffs announced by the US, high global interest rate initially prompting capital withdrawal, strong US dollar pressure, and a shift toward developed markets,' read the report.
Business Recorder
2 days ago
- Business
- Business Recorder
Stocks emerge as best-performing asset class in Pakistan for FY25
Stocks emerged as the top-performing asset class in FY25 with a return exceeding 55%, led by aggressive monetary easing, improved market liquidity, and the unlocking of fundamental value across key sectors, said Arif Habib Limited (AHL). 'The KSE-100 exhibits the strongest performance across all asset classes, boasting a FY25 return of 55.58%, significantly outperforming gold (47.56%), T-Bills (12.68%), Defence Saving Certificates (12.61%), bank deposits (12.60%), PIBs (11.97%), and USD/PKR (1.91%),' AHL said, in its report on Friday. As per the brokerage house, the KSE-100's (benchmark index of the Pakistan Stock Exchange) returns consistently outshine those of other major asset categories. 'Even the historical gains from gold and T-Bills in recent times have been unable to match the impressive surge of the equity market.' It added that the KSE-100's CAGR, or Compound Annual Growth Rate, is higher than all other asset classes in every long-term benchmark, from a 5-year holding period to a 20-year holding period. 'This performance suggests that the KSE-100, particularly the equity market, is the most lucrative asset class for investors with a long-term horizon in Pakistan,' it added. KSE-100 in FY25 During the outgoing fiscal, the KSE-100 Index delivered a stellar performance, surging by 58.6% in PKR terms and an impressive 55.5% in USD terms to close at 124,379, up from 78,445 at the end of FY24. 'This remarkable rally was driven by aggressive monetary easing, improved market liquidity, and the unlocking of fundamental value across key sectors,' said AHL. The brokerage house shared that FY25 also witnessed record market participation, with the highest-ever trading volumes and the highest traded value since FY21. During FY25, the State Bank of Pakistan (SBP) slashed the policy rate from 21.5% to 11%, marking one of the most aggressive easing cycles in the country's history. Moreover, Fitch Ratings upgraded Pakistan's credit rating from CCC+ to B- following successful staff-level agreements with the IMF on the $7 billion Extended Fund Facility and the $1.3 billion Resilience and Sustainability Facility. Meanwhile, the PKR depreciated by a modest 1.9% against the USD FY25. However, despite the gains, geopolitical tensions jolted the market during the year, with sharp declines triggered by escalations between Pakistan and India in May'25, and Iran and Israel in Jun'25. 'However, subsequent ceasefires fueled some of the strongest market rallies in recent history,' it said.
Business Recorder
2 days ago
- Business
- Business Recorder
KSE-100 Index hits new record high on budget approval
The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index closed at record high on Friday, a day after the National Assembly (NA) passed the Finance Bill, 2025. The bulls largely maintained their grip over the market, taking the KSE-100 to an intra-day high of 125,285.05. At close, the benchmark index settled at 124,379.07, up by 2,332.60 points or 1.91%. 'Bull dominated today's trading session on aggressive buying by local institutions, as the KSE-100 Index increased 1.9% to close at its ever high level,' brokerage house Topline Securities said in its post-market report. 'This buying by local institutions can be attributed to fresh liquidity on rumored new year allocations towards equity funds,' it added. Top positive contribution to the index came from FFC, LUCK, MEBL, POL, ENGROH, EFERT and OGDC, as they cumulatively contributed 1,044 points to the index, Topline said. Ali Najib from Arif Habib Limited said the PSX had a strong momentum since Friday morning, courtesy to institutional driven buying ahead of FY26 re-allocation towards equities. 'In addition, yesterday's National Assembly budget approval also taken positively by investors community,' he said. On week-on-week basis, the KSE-100 gained 3.63%. 'This gain can be attributed to ceasefire between Israel & Iran during the week bringing an end to geopolitical tensions, which triggered buying by investors before fiscal year end,' Topline said. The NA on Thursday passed the Finance Bill, 2025, with a total outlay of Rs17.57 trillion, for fiscal year 2025-26, incorporating certain amendments, with the support of its coalition partners. The bill was passed clause by clause, with all opposition-proposed amendments rejected. The PSX experienced a turbulent session on Thursday as the KSE-100 plunged amid persistent selling pressure and cautious investor sentiment. The benchmark index lost 715.18 points, closing at 122,046.46. Internationally, Asia shares hit their highest level in more than three years on Friday as they tracked a Wall Street rally, though the dollar struggled on concerns about the Federal Reserve's independence and expectations for early rate cuts. Stock indexes worldwide look set to end the week on a positive note, with worries about tensions in the Middle East and uncertainty over tariffs and trade deals on the back burner for now. MSCI's broadest index of Asia-Pacific shares outside Japan touched its strongest level since November 2021 early in the session. It last traded 0.2% higher and is set to clock a 3% gain for the week. Japan's Nikkei jumped 1.5% and surpassed the 40,000 mark for the first time in five months. Reasons for the upbeat mood included news that Washington has reached an agreement with Beijing on how to expedite rare earth shipments to the United States. US Treasury Secretary Scott Bessent also said on Thursday that he has asked Republicans in Congress to scrap the Section 899 retaliatory tax proposal from their tax and spending bill after Washington reached an agreement with Group of Seven industrial countries. Meanwhile, the Pakistani rupee posted marginal decline against the US dollar, depreciating 0.02% in the interbank market on Friday. At close, the currency settled at 283.72, a loss of Re0.05 against the greenback. Volume on the all-share index increased to 773.41 million from 758.54 million recorded in the previous close. The value of shares rose to Rs37.57 billion from Rs29.93 billion in the previous session. Bank Makramah was the volume leader with 79.75 million shares, followed by Ghani Glo Hol with 27.67 million shares, and Pervez Ahmed Co with 24.85 million shares. Shares of 484 companies were traded on Friday, of which 334 registered an increase, 116 recorded a fall, while 34 remained unchanged.
Business Recorder
2 days ago
- Business
- Business Recorder
Buying rally at PSX, KSE-100 surges nearly 3,200 points
Buying returned to the Pakistan Stock Exchange (PSX) after the government managed to pass the Finance Bill, 2025, with the benchmark KSE-100 Index gaining nearly 3,200 points during the first half of the trading session on Friday. At 2:35pm, the benchmark index was hovering at 125,231.84 level, a gain of 3,185.38 points or 2.61%. Across-the-board buying was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and refinery traded in the green. Index-heavy stocks including MARI, OGDC, POL, PPL, PSO, SSGC, HBL MCB and UBL traded in the green. The National Assembly on Thursday passed the Finance Bill, 2025, with a total outlay of Rs17.57 trillion, for fiscal year 2025-26, incorporating certain amendments, with the support of its coalition partners. The bill was passed clause by clause, with all opposition-proposed amendments rejected. On Thursday, the Pakistan Stock Exchange (PSX) experienced a turbulent session on Thursday as the benchmark KSE-100 Index plunged amid persistent selling pressure and cautious investor sentiment. The benchmark KSE-100 Index lost 715.18 points, closing at 122,046.46 points. Internationally, Asia shares hit their highest level in more than three years on Friday as they tracked a Wall Street rally, though the dollar struggled on concerns about the Federal Reserve's independence and expectations for early rate cuts. Stock indexes worldwide look set to end the week on a positive note, with worries about tensions in the Middle East and uncertainty over tariffs and trade deals on the back burner for now. MSCI's broadest index of Asia-Pacific shares outside Japan touched its strongest level since November 2021 early in the session. It last traded 0.2% higher and is set to clock a 3% gain for the week. Japan's Nikkei jumped 1.5% and surpassed the 40,000 mark for the first time in five months. Reasons for the upbeat mood included news that Washington has reached an agreement with Beijing on how to expedite rare earth shipments to the United States. US Treasury Secretary Scott Bessent also said on Thursday that he has asked Republicans in Congress to scrap the Section 899 retaliatory tax proposal from their tax and spending bill after Washington reached an agreement with Group of Seven industrial countries. This is an intra-day update
Express Tribune
3 days ago
- Business
- Express Tribune
PSX rebounds after NA approves budget
The Pakistan Stock Exchange (PSX) saw a positive performance on Friday, as the KSE-100 Index gained 1,581.77 points, or 1.3%, reaching the current index at 123,628.23 during intra-day trading. The index traded between a high of 123,628.23 and a low of 122,222.69, showing a modest fluctuation. The market is currently suspended for the Namaz break and will resume afterwards. Source: PSX The market saw strong trading activity with a total volume of 81,076,304 shares and a total value of Rs9,001,266,999. The previous close for the index was 122,046.46, reflecting a notable improvement as investor sentiment remained positive. The National Assembly on Thursday approved the Rs17.6 trillion worth budget, along with Rs463 billion in new taxes, bringing the digital economy under the purview of tax laws, but almost nullified the single largest enforcement measure to ban economic transactions by ineligible persons. The NA approved the second budget of the government of Prime Minister Shehbaz Sharif with a comfortable majority. Read: NA passes Finance Bill with Rs463b new taxes During a vote on one clause, the coalition government mustered the support of 201 Members of the National Assembly as against 57 votes of the opposition parties. It was also the second budget presented by Minister for Finance Muhammad Aurangzeb in the National Assembly. With the approval of the assembly and subsequent assent by President Asif Ali Zardari, the Finance Act 2025 will come into effect from Tuesday. The National Assembly approved a Rs17.6 trillion budget for the fiscal year 2025-26, making the single largest allocation of Rs8.2 trillion for the interest payments. The defense spending would consume Rs2.55 trillion, the single largest expense in the budget, excluding expenses on the armed forces development programme and military pensions. The subsidies are the third biggest head with over Rs1.1 trillion allocation, followed by over Rs1 trillion for pensions, Rs1 trillion for development spending, and another Rs917 billion for running the civil government.
