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Express Tribune
25-06-2025
- Business
- Express Tribune
PSX soars as Middle East tensions ease
Listen to article Pakistan Stock Exchange (PSX) skyrocketed over 6,000 points on Tuesday as US President Donald Trump announced a ceasefire between Israel and Iran, bringing an end to regional hostilities. The benchmark KSE-100 index surged at the open, where bullish momentum drove it to the intra-day high of 122,725, up 6,557 points. As the session progressed, investor confidence strengthened, culminating in the KSE-30 index hitting its upper circuit breaker, a rare and historic moment that sent a wave of excitement. Market activity was further buoyed by renewed macroeconomic optimism, including news of Pakistan's plans to secure $3.3 billion in external financing from Chinese banks. Trading activity was robust, with 805 million shares changing hands valuing at Rs38 billion. At the end of trading, the KSE-100 index recorded an increase of 6,079.17 points, or 5.23%, and settled at 122,246.64. Arif Habib Limited (AHL) Deputy Head of Trading Ali Najib commented that regional peace ignited a rally at the PSX, which posted the second-highest surge of over 6,000 points in a day. The KSE-100 ended trading at 122,247 points by easily crossing the psychological barrier of 120,000. Earlier, the bourse opened on a strong note with an increase of over 4,000 points post-ceasefire between Iran and Israel. There was across-the-board stock buying, which lifted the benchmark index to the high of 122,725 in intra-day trading, he said. On the macro front, Najib pointed out, Pakistan plans to secure $3.3 billion via syndicated and refinanced commercial loans from Chinese banks, potentially boosting forex reserves to over $14 billion. "Now, all eyes are on the 130,000 index level by month end." Topline Securities, in its review, said that the local bourse opened with a bang as investors cheered the breakthrough ceasefire agreement between Israel and Iran, which brought a welcome pause to rising geopolitical tensions in the region. Riding on a wave of optimism, the KSE-100 index surged at the commencement of proceedings, clocking in an eye-popping 4,202-point jump. The bullish momentum intensified as the session progressed, culminating in a historic moment, when the KSE-30 index hit its upper circuit breaker, it said. The KSE-100 reached the intra-day high of 6,557 points, before settling at 122,247, up a whopping 6,079 points, or 5.23%. The brokerage house called it a remarkable session that reflected renewed investor confidence and the return of broader risk-on sentiment. Top contributors to the index were Lucky Cement, Engro Holdings, UBL, Pakistan Petroleum and Oil and Gas Development Company (OGDC), which collectively added 1,795 points. Pakistan State Oil (Rs2.4 billion), OGDC (Rs1.98 billion), Pakistan Petroleum (Rs1.62 billion), Lucky Cement (Rs1.60 billion) and DG Khan Cement (Rs1.49 billion) dominated in terms of traded value, signalling strong interest in key blue-chip and mid-cap names, Topline added. In its commentary, Arif Habib Limited (AHL) noted that diplomatic resolution to the Middle East conflict triggered a sharp rally in risk assets globally. At the PSX, 96 shares rose while two fell on the KSE-100. Earlier, trading was halted following a 5% rise for the index. Lucky Cement (+9.4%), Engro Holdings (+7.85%) and UBL (+4.29%) contributed the most to index gains, AHL observed. "Pakistan is aiming to secure $3.3 billion in two foreign loans – one a syndicated loan and the other refinancing of commercial loans – from Chinese banks. This will take State Bank's forex reserves above $14 billion in FY25," it said. "With the KSE-100 regaining its hold on the 120,000 range, 130,000 points comes back into focus." According to JS Global analyst Mubashir Anis Naviwala, the PSX soared as ceasefire in the Middle East triggered a buying spree. "Just seconds after the market halt ended, the KSE-100 index surged over 6,500 points, sparking widespread euphoria," he said. Bullish sentiment dominated the entire session, pushing the index to the intra-day high of 122,725. Investors jumped in across sectors, encouraged by signs of geopolitical de-escalation. "Near-term outlook remains positive, with fresh opportunities in cement, banking and fertiliser sectors," the analyst added. Overall trading volumes increased to 804.8 million shares compared with Monday's tally of 595 million. The value of shares traded was Rs37.6 billion. Shares of 477 companies were traded. Of these, 407 stocks closed higher, 35 fell and another 35 remained unchanged. WorldCall Telecom was the volume leader with trading in 65.4 million shares, gaining Rs0.11 to close at Rs1.46. It was followed by K-Electric with 54.3 million shares, gaining Rs0.35 to close at Rs5.24 and Cnergyico PK with 37.9 million shares, gaining Rs0.53 to close at Rs7.16. During the day, foreign investors sold shares worth Rs418 million, the National Clearing Company reported.
Business Recorder
25-06-2025
- Business
- Business Recorder
Historic milestone achieved
KARACHI: In a landmark trading session on Tuesday, the Pakistan Stock Exchange (PSX) surged to record high, driven largely by investor optimism following a ceasefire agreement between Iran and Israel. The benchmark KSE-100 Index rose significantly 6,079 points or 5.23 percent, settling at record level of 122,246 points. This marks the second-highest single-day increase in terms of points. The index opened in the green and remained in positive territory throughout the day, fluctuating between an intraday high of 122,725.21 points and a low of 120,369.54 points. On Tuesday, BRIndex100 closed at 12,461.11 points, gaining 687.06 points or 5.84 percent, with a total volume of 627.23 million shares. On the other hand, BRIndex30 surged by 2,769.72 points or 7.92 percent to close at 37,744.13, with a total volume of 423.25 million shares. Analysts noted that the easing geopolitical tensions revived confidence in Pakistan's capital market, which had been bracing for potential fallout through disrupted trade routes and spiking oil prices. Market analyst Ahsan Mehanti of Arif Habib Corporation noted that the ceasefire played a pivotal role in triggering today's euphoric rally. 'The agreement between Iran and Israel acted as a strong catalyst, as investors rushed to capitalize on undervalued positions following receding fears over supply chain disruptions and inflationary pressures linked to Middle East tensions,' he remarked. Echoing this sentiment, Topline Securities reported that the local bourse opened 'with a bang' as investors cheered the breakthrough truce. As the bullish momentum intensified, the session witnessed a historic moment when the KSE-30 index hit its upper circuit breaker, an exceptionally rare event that electrified the trading floor and added to the sense of euphoria gripping the market. The ready market turnover witnessed an impressive rise, with traded volume jumping to 804.77 million shares, valued at over Rs 37.61 billion, a significant leap from the previous session's 595.01 million shares and Rs 23.48 billion in value. The market capitalization witnessed an expansion of over Rs 714.57 billion to 14.778 Trillion on Tuesday from 14.063 trillion on Monday, reflecting renewed foreign and institutional interest amid improving indicators and geopolitical stability. Among the standout performers in the ready market were WorldCall Telecom with 65.35 million shares traded with closing price of Rs 1.46, followed by K-Electric at 54.3 million shares and closing rate Rs 5.24, and Cnergyico PK with 37.88 million shares, closed at Rs 7.16. In terms of price movement, PIA Holding Company Limited led the charge with a remarkable increase of Rs 1,003.85 per share, closing at Rs 11,042.30, followed by Unilever Pakistan Foods Limited, which gained Rs 721.43 to settle at Rs 23,621.43 per share. Conversely, Faisal Spinning Mills Limited's share decreased by Rs 20.17 and settled at Rs. 315 while Tandlianwala Sugar Mills Limited shares were also saw a decline of Rs 15.01 and finished at Rs 165.69. BR Automobile Assembler Index gained 934.56 points or 4.82 percent to close at 20,320.11 points, with a turnover of 4.94 million shares. BR Cement Index climbed 844.45 points or 8.79 percent, settling at 10,450.86 points on 66.96 million shares. BR Commercial Banks Index closed at 32,563.16 points, up 1,251.54 points or 4 percent, with 70.93 million shares traded. BR Power Generation & Distribution Index rose 925.34 points or 4.71 percent to 20,572.20 points on a turnover of 63.52 million shares. BR Oil & Gas Index settled at 11,763.14 points, adding 685.36 points or 6.19 percent, with 65.98 million shares changing hands. Lastly, BR Technology & Communication Index jumped 206.30 points or 7.93 percent to 2,806.75 points on the turnover of 107.37 million shares. According to JS Global, the PSX experienced a powerful buying spree immediately after US President's announcement of the ceasefire between Iran and Israel. Just seconds after the market halt ended, the KSE-100 Index surged by more than 6,500 points, igniting widespread euphoria and bullish sentiment that dominated the entire session. Copyright Business Recorder, 2025
Express Tribune
24-06-2025
- Business
- Express Tribune
Driven by ME ceasefire, PSX soars over 6,000 points
Listen to article Pakistan Stock Exchange (PSX) skyrocketed over 6,000 points on Tuesday as US President Donald Trump announced a ceasefire between Israel and Iran, bringing an end to hostilities in the Middle East region. The benchmark KSE-100 index surged at the open, where bullish momentum drove it to the intra-day high of 122,725, up 6,557 points. As the session progressed, investor confidence strengthened, culminating in the KSE-30 index hitting its upper circuit breaker — a rare and historic moment that sent a wave of excitement. At the close of trading, the KSE-100 index recorded an increase of 6,079.17 points, or 5.23%, and settled at 122,246.64. According to JS Global analyst Mubashir Anis Naviwala, the PSX soared as the ceasefire in the Middle East triggered a buying spree. 'Just seconds after the market halt ended, the KSE-100 index surged over 6,500 points, sparking widespread euphoria,' he said. Bullish sentiment dominated the entire session, pushing the index to the intra-day high of 122,725. Investors jumped in across sectors, encouraged by signs of geopolitical de-escalation. 'Near-term outlook remains positive, with fresh opportunities in cement, banking and fertiliser sectors,' the analyst added. Topline Securities, in its review, commented that the local bourse opened with a bang as investors cheered the breakthrough ceasefire agreement between Israel and Iran, which brought a welcome pause to rising geopolitical tensions in the region. Riding on this wave of optimism, the KSE-100 index surged at the open, clocking in an eye-popping 4,202-point jump from the previous close. The bullish momentum intensified as the session progressed, culminating in a historic moment, when the KSE-30 index hit its upper circuit breaker — an exceptionally rare feat, Topline said. The KSE-100 index went on to post the intra-day high of 6,557 points, before settling at 122,246, up a whopping 6,079 points, or 5.23%, for the day. It was a remarkable session that reflected renewed investor confidence and a broader risk-on sentiment returning to the market, it added. Overall trading volumes increased to 804.8 million shares compared with Monday's tally of 595 million. The value of shares traded was Rs37.6 billion. Shares of 477 companies were traded. Of these, 407 stocks closed higher, 35 fell, and 35 remained unchanged. WorldCall Telecom was the volume leader with trading in 65.4 million shares, gaining Rs0.11 to close at Rs1.46. It was followed by K-Electric with 54.3 million shares, gaining Rs0.35 to close at Rs5.24, and Cnergyico PK with 37.9 million shares, gaining Rs0.53 to close at Rs7.16.
Business Recorder
24-06-2025
- Business
- Business Recorder
KSE-100 settles with over 6,000 points gain amid ceasefire reports
Buying spree returned to the Pakistan Stock Exchange (PSX) as investors rejoiced after US President Donald Trump said Iran and Israel had agreed to a ceasefire, with the benchmark KSE-100 Index settling with a gain of over 6,000 points. Bullish momentum persisted throughout the trading session, pushing the KSE-100 Index to an intra-day high of 122,725.21. At close, the benchmark index settled at 122,246.63 level, an increase of 6079.16 points or 5.23%. 'This marks the second-highest single-day increase on a closing basis in terms of points,' said Arif Habib Limited (AHL), in a post. Earlier, following a 5% gain, trading activity at PSX halted for 1 hour, and the market opened at 12:31pm. 'All TRE Certificate Holders are hereby informed that due to a 5% increase in the KSE-30 index from the previous trading day's close of the index, a Market Halt has been triggered as per PSX Regulations,' read the notice. Across-the-board buying was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including HUBCO, ARL, SSGC, PSO, MARI, OGDC, PPL, POL, UBL and HBL traded in the green. 'The ceasefire announcement and a 3-4% drop in international oil prices are driving the buying rally at the bourse,' Sana Tawfik, Head of Research at AHL, told Business Recorder. 'The market believes the geopolitical situation will now come under control,' she added. Pakistan is aiming to secure $3.3 billion in the form of two foreign loans - one a syndicated loan and the other a refinancing of commercial loans from Chinese banks within the next few days. 'This will take FX reserves held by the SBP above the USD 14bn mark in FY25,' AHL said in its post-market commentary. Meanwhile, Waqas Ghani, Head of Research at JS Global, echoed similar sentiments. 'Market participants responded positively to Trump's ceasefire announcement aimed at easing Middle East tensions and a decrease in global oil prices. Widespread buying activity was witnessed across all sectors, driving a strong rally,' he said. Intense selling pressure gripped the PSX on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. Internationally, global shares rallied and the dollar extended declines on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Oil prices fell over 3%, having already slid 9% on Monday when Iran made a token retaliation against a US base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, U.S. crude futures fell another 3.4% to $66.15 per barrel, the lowest since June 11. Risk assets rallied, with S&P 500 futures up 0.6% and Nasdaq futures 0.9% higher. EUROSTOXX 50 futures jumped 1.3% and FTSE futures rose 0.4%. The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.8% while Japan's Nikkei rallied 1.4%. This is an intra-day update
Business Recorder
24-06-2025
- Business
- Business Recorder
KSE-100 surges over 5,600 points amid ceasefire reports
Buying spree returned to the Pakistan Stock Exchange (PSX) as investors rejoiced after US President Donald Trump said Iran and Israel had agreed to a ceasefire, with the benchmark KSE-100 Index gaining over 6,500 points, just seconds after market halt ended, during the intra-day trading on Tuesday. Bullish momentum persisted throughout the trading session, pushing the KSE-100 Index to an intra-day high of 122,725.21. At 2:10pm, the benchmark index was hovering at 121,809.78 level, an increase of 5,642.31 points or 4.86%. Earlier, following a 5% gain, trading activity at PSX halted for 1 hour, and the market opened at 12:31pm. 'All TRE Certificate Holders are hereby informed that due to a 5% increase in the KSE-30 index from the previous trading day's close of the index, a Market Halt has been triggered as per PSX Regulations,' read the notice. Across-the-board buying was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including HUBCO, ARL, SSGC, PSO, MARI, OGDC, PPL, POL, UBL and HBL traded in the green. 'The ceasefire announcement and a 3-4% drop in international oil prices are driving the buying rally at the bourse,' Sana Tawfik, Head of Research at Arif Habib Limited (AHL), told Business Recorder. 'The market believes the geopolitical situation will now come under control,' she added. Waqas Ghani, Head of Research at JS Global, echoed similar sentiments. 'Market participants responded positively to Trump's ceasefire announcement aimed at easing Middle East tensions and a decrease in global oil prices. Widespread buying activity was witnessed across all sectors, driving a strong rally,' he said. Intense selling pressure gripped the PSX on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. Internationally, global shares rallied and the dollar extended declines on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Oil prices fell over 3%, having already slid 9% on Monday when Iran made a token retaliation against a US base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, U.S. crude futures fell another 3.4% to $66.15 per barrel, the lowest since June 11. Risk assets rallied, with S&P 500 futures up 0.6% and Nasdaq futures 0.9% higher. EUROSTOXX 50 futures jumped 1.3% and FTSE futures rose 0.4%. The MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.8% while Japan's Nikkei rallied 1.4%. This is an intra-day update
