Latest news with #NationalSavingsScheme
Business Recorder
04-07-2025
- Business
- Business Recorder
KSE-100 continues record run, gains further 1,262 points to close at fresh high
Buying continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 1% to close at a fresh record high on Friday. At close, the benchmark index settled at 131,949.07, up by 1,262.41 points or 0.97%. 'This positivity in the market can be attributed to buying by institution on new allocation towards equity fund as indicated by National Clearing Company data,' brokerage house Topline Securities said in its post-market report. Top positive contribution to the index came UBL, HBL, SYS, BAHL, MCB, NBP and MEBL, as they cumulatively contributed 1,289 points to the index. On Thursday, the PSX extended its record-breaking rally as the government's decision to slash National Savings Scheme rates, reduce industrial power tariffs, and accelerate deliberations on the privatisation of state-owned enterprises fueled market momentum. The KSE-100 surged to a fresh all-time high, rising by 342 points or 0.26% to close at 130,686.66 points. On a weekly basis, the KSE-100 increased 6.09%. 'This positivity in market can be attributed to hefty buying by institutions on account of new liquidity being diverting towards equity on the back of lower yields and higher taxes on fixed income,' Topline said. Internationally, most Asian equity markets struggled on Friday, despite record highs for Wall Street overnight, as US President Donald Trump's deadline for trade deals loomed next week. The dollar retraced some of Thursday's gains with US markets already shut for the week, as traders considered the impact of the sweeping spending bill Trump is about to sign into law. Japan's Nikkei rose 0.3% as of 0152 GMT after flipping between gains and losses in early trading. Hong Kong's Hang Seng slumped 1.3%, while mainland Chinese blue chips edged slightly lower. Taiwan's equity benchmark shed early gains to decline 0.2%. South Korea's KOSPI sank more than 1%. US S&P 500 futures edged down 0.2%, following a 0.8% overnight advance for the cash index to a fresh all-time closing peak. Wall Street is closed on Friday for Independence Day. Investors cheered a surprisingly robust jobs report on Thursday in sending all three of the main U.S. equity indexes climbing in a shortened session. Following the close, the House narrowly approved Trump's signature, 869-page bill, which would add $3.4 trillion to the nation's $36.2 trillion debt, according to the nonpartisan Congressional Budget Office. Trump also said he would start sending out letters to trade partners with their tariff rates, as deals remained elusive ahead of the July 9 deadline. Meanwhile, the Pakistani rupee weakened against the US dollar, depreciating 0.04% in the interbank market on Friday. At close, the currency settled at 283.97, a loss of Re0.11. Volume on the all-share index decreased to 733.08 million from 899.85 million recorded in the previous close. The value of shares declined to Rs34.94 billion from Rs43.25 billion in the previous session. WorldCall Telecom was the volume leader with 58.26 million shares, followed by Bank Makramah with 35.81 million shares, and Treet Corp with 29.72 million shares. Shares of 473 companies were traded on Friday, of which 255 registered an increase, 177 recorded a fall, while 41 remained unchanged.
Business Recorder
04-07-2025
- Business
- Business Recorder
Stocks surge as KSE-100 gains nearly 1,100 points
Buying continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 1,100 points during the second half of the trading session on Friday. At 3:55pm, the benchmark index was hovering at 131,776.46 level, an increase of 1,089.81 points or 0.83%. Buying was observed in key sectors including automobile assemblers, cement, commercial banks, OMCs and power generation. Index-heavy stocks including HUBCO, SSGC, WAFI, HCAR, HBL, MCB and MEBL traded in the green. On Thursday, the PSX extended its record-breaking rally as the government's decision to slash National Savings Scheme rates, reduce industrial power tariffs, and accelerate deliberations on the privatisation of state-owned enterprises fueled market momentum. The benchmark KSE-100 Index surged to a fresh all-time high, rising by 342 points or 0.26% to close at 130,686.66 points. Internationally, most Asian equity markets struggled on Friday, despite record highs for Wall Street overnight, as US President Donald Trump's deadline for trade deals loomed next week. The dollar retraced some of Thursday's gains with US markets already shut for the week, as traders considered the impact of the sweeping spending bill Trump is about to sign into law. Japan's Nikkei rose 0.3% as of 0152 GMT after flipping between gains and losses in early trading. Hong Kong's Hang Seng slumped 1.3%, while mainland Chinese blue chips edged slightly lower. Taiwan's equity benchmark shed early gains to decline 0.2%. South Korea's KOSPI sank more than 1%. US S&P 500 futures edged down 0.2%, following a 0.8% overnight advance for the cash index to a fresh all-time closing peak. Wall Street is closed on Friday for Independence Day. Investors cheered a surprisingly robust jobs report on Thursday in sending all three of the main U.S. equity indexes climbing in a shortened session. Following the close, the House narrowly approved Trump's signature, 869-page bill, which would add $3.4 trillion to the nation's $36.2 trillion debt, according to the nonpartisan Congressional Budget Office. Trump also said he would start sending out letters to trade partners with their tariff rates, as deals remained elusive ahead of the July 9 deadline. This is an intra-day update
Business Recorder
04-07-2025
- Business
- Business Recorder
Stocks surge as KSE-100 gains over 500 points
Buying continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 500 points during the second half of the trading session on Friday. At 3:20pm, the benchmark index was hovering at 131,250.86 level, an increase of 564.21 points or 0.43%. Buying was observed in key sectors including automobile assemblers, cement, commercial banks, OMCs and power generation. Index-heavy stocks including HUBCO, SSGC, WAFI, HCAR, HBL, MCB and MEBL traded in the green. On Thursday, the PSX extended its record-breaking rally as the government's decision to slash National Savings Scheme rates, reduce industrial power tariffs, and accelerate deliberations on the privatisation of state-owned enterprises fueled market momentum. The benchmark KSE-100 Index surged to a fresh all-time high, rising by 342 points or 0.26% to close at 130,686.66 points. Internationally, most Asian equity markets struggled on Friday, despite record highs for Wall Street overnight, as US President Donald Trump's deadline for trade deals loomed next week. The dollar retraced some of Thursday's gains with US markets already shut for the week, as traders considered the impact of the sweeping spending bill Trump is about to sign into law. Japan's Nikkei rose 0.3% as of 0152 GMT after flipping between gains and losses in early trading. Hong Kong's Hang Seng slumped 1.3%, while mainland Chinese blue chips edged slightly lower. Taiwan's equity benchmark shed early gains to decline 0.2%. South Korea's KOSPI sank more than 1%. US S&P 500 futures edged down 0.2%, following a 0.8% overnight advance for the cash index to a fresh all-time closing peak. Wall Street is closed on Friday for Independence Day. Investors cheered a surprisingly robust jobs report on Thursday in sending all three of the main U.S. equity indexes climbing in a shortened session. Following the close, the House narrowly approved Trump's signature, 869-page bill, which would add $3.4 trillion to the nation's $36.2 trillion debt, according to the nonpartisan Congressional Budget Office. Trump also said he would start sending out letters to trade partners with their tariff rates, as deals remained elusive ahead of the July 9 deadline. This is an intra-day update
Express Tribune
04-07-2025
- Business
- Express Tribune
PSX continues rally, hits new high above 131,000 points
The Pakistan Stock Exchange (PSX) continued its bullish trend on Friday, with the benchmark KSE-100 index gaining 489.75 points, current index at 131,176.40 — an increase of 0.37% during intra-day trading. The index reached an intraday high of 131,411.40 and a low of 130,716.10 during the trading session. Trading volume stood at 73.6 million shares, with a total value of over Rs 7.7 billion, reflecting sustained buying activity across various sectors. Friday's session followed a similar bullish trend seen the previous day, when the index closed at 130,686.65. Earlier on Thursday, KSE-100 index extended its upward trajectory to close at a new all-time high with addition of 342.63 points. Read: Stocks continue bull-run, reach fresh peak The rally was led by index-heavy sectors, particularly oil and gas, banking and power. However, overall trading remained mixed. Among major triggers, Pakistan's foreign exchange reserves jumped $5.1b to $14.5b by the end of FY25. "Stocks closed higher at a new all-time high after the government slashed NSS (National Savings Scheme) rates, which will push investors towards equities, and the State Bank's forex reserves hit $14.5b," said Arif Habib Corp MD Ahsan Mehanti. Arif Habib Limited (AHL) reported that the KSE-100 index experienced two-way volatility around the 130,000 level but it managed to hold the key level at close. Some 53 shares advanced while 46 declined. Major contributors to the index gains were Oil and Gas Development Company (+2.77%), UBL (+1.32%) and Hub Power (+2.26%). On the flip side, the biggest laggards were Bank AL Habib (-4.14%), MCB Bank (-2.46%) and Meezan Bank (-1.6%), it said. WorldCall Telecom was the volume leader with trading in 49.5m shares, falling Rs0.02 to close at Rs1.59. It was followed by Image Pakistan with 36.7m shares, rising Rs2.87 to close at Rs32.47 and The Bank of Punjab with 35.1m shares, losing Rs0.02 to close at Rs11.52. Foreign investors sold shares worth Rs909m, the National Clearing Company reported.
Business Recorder
04-07-2025
- Business
- Business Recorder
Stocks surge as KSE-100 gains nearly 500 points
Buying continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 500 points during the first half of the trading session on Friday. At 12pm, the benchmark index was hovering at 131,176.40 level, an increase of 489.75 points or 0.37%. Buying was observed in key sectors including automobile assemblers, cement, commercial banks, OMCs and power generation. Index-heavy stocks including HUBCO, SSGC, WAFI, HCAR, HBL, MCB and MEBL traded in the green. On Thursday, the PSX extended its record-breaking rally as the government's decision to slash National Savings Scheme rates, reduce industrial power tariffs, and accelerate deliberations on the privatisation of state-owned enterprises fueled market momentum. The benchmark KSE-100 Index surged to a fresh all-time high, rising by 342 points or 0.26% to close at 130,686.66 points. Internationally, most Asian equity markets struggled on Friday, despite record highs for Wall Street overnight, as US President Donald Trump's deadline for trade deals loomed next week. The dollar retraced some of Thursday's gains with US markets already shut for the week, as traders considered the impact of the sweeping spending bill Trump is about to sign into law. Japan's Nikkei rose 0.3% as of 0152 GMT after flipping between gains and losses in early trading. Hong Kong's Hang Seng slumped 1.3%, while mainland Chinese blue chips edged slightly lower. Taiwan's equity benchmark shed early gains to decline 0.2%. South Korea's KOSPI sank more than 1%. US S&P 500 futures edged down 0.2%, following a 0.8% overnight advance for the cash index to a fresh all-time closing peak. Wall Street is closed on Friday for Independence Day. Investors cheered a surprisingly robust jobs report on Thursday in sending all three of the main U.S. equity indexes climbing in a shortened session. Following the close, the House narrowly approved Trump's signature, 869-page bill, which would add $3.4 trillion to the nation's $36.2 trillion debt, according to the nonpartisan Congressional Budget Office. Trump also said he would start sending out letters to trade partners with their tariff rates, as deals remained elusive ahead of the July 9 deadline. This is an intra-day update
