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Business Recorder
21 hours ago
- Business
- Business Recorder
Another downbeat trading day
KARACHI: The Pakistan Stock Exchange (PSX) experienced another downbeat trading day on Thursday, with most key indices registering declines despite some individual company gains. The benchmark KSE100 index dropped by 463.34 points or 0.38 percent to end the day at 120,002.59, down from its previous closing of 120,465.93. Throughout the day, the KSE 100 reached a high of 121,745.30 and a low of 119,770.03. On Thursday, the BRIndex100 closed at 12,923.04, marking a decrease of 54.42 points or 0.42 percent. The total trading volume for the BRIndex100 was 404.54 million. Meanwhile, the BRIndex30 ended the day at 36,973.62, reflecting a loss of 282.25 points or 0.76 percent, with a total volume of 269.32 million. Ismail Iqbal Securities in its report cited that local bourse cited another volatile session with persistent geopolitical tensions and fluctuating international oil prices, weighed on investor sentiments and kept the broader market under pressure. Total turnover in the regular market was recorded at 604.54 million shares, a decrease from the previous day's 707.30 million shares. The traded value in the regular market also saw a dip, from Rs 21.27 billion to Rs 20.44 billion. Moreover, the regular market's total market capitalization closed at over Rs 14.52 trillion, a decrease of Rs 87 billion from the previous day's Rs 14.61 trillion. In the ready market, 155 companies saw their share prices increase, while 269 declined, and 35 remained unchanged out of 459 companies traded. WorldCall Telecom again led the ready market in turnover with 64.60 million shares traded, closing at Rs 1.49. Sui Southern Gas followed with 35.63 million shares, closing at Rs 43.28. While, Prud Mod.1st remained the third in row with 30.29 million shares and its closing rate was Rs 4.31. In the ready market, Unilever Pakistan Foods Limited saw the most significant increase, rising by Rs 140.64 to close at Rs 23,129.64. Macter International Limited also saw a notable increase of Rs 51.39, closing at Rs 565.29. Conversely, PIA Holding Company LimitedB experienced the largest decrease, falling by Rs 1,377.01 to close at Rs 12,393.14. Hoechst Pakistan Limited also saw a substantial decline of Rs 99.24, closing at Rs 3,150.76. Sectoral indices at the close of trading showed mixed performance. The BR Automobile Assembler Index concluded at 20,279.67 points, experiencing a 0.92 percent or 188.49 points decline with a total turnover of 2.36 million. The BR Cement Index closed at 10,130.46 points, down 1.09 percent or 111.26 points, and recorded a total turnover of 29.30 million. In contrast, the BR Commercial Banks Index ended positively at 36,654.95 points, gaining 142.13 points or 0.39 percent, with a total turnover of 30.95 million. Meanwhile, the BR Power Generation and Distribution Index finished at 20,504.67 points, decreasing by 341.97 points or 1.64 percent on a total turnover of 25.59 million. The BR Oil and Gas Index closed at 11,514.03, down 0.32 percent or 36.89 points, with 53.90 million in total turnover. Finally, the BR Technology & Communication Index with 92.49 million turnover ended at 2,849.61 points, or 0.51 percent decrease. Topline Securities, in its commentary said that the local bourse kicked off the trading session on a strong footing on Thursday, buoyed by news that the federal cabinet has green lit a financial restructuring plan aimed at slashing Rs1.275 trillion in circular debt within the power sector over the next six years. Riding on this optimism, the benchmark index surged to an intraday high of 1,279 points. However, the bullish momentum was short-lived, as profit-taking set in later in the session, in line with global market trends. Moreover, the rising geopolitical tensions particularly the intensifying standoff between Iran and Israel dampened investor sentiment and led to a broad-based pullback, overshadowing the earlier euphoria and highlighting the fragility of market confidence in a volatile global environment. Copyright Business Recorder, 2025
Business Recorder
2 days ago
- Business
- Business Recorder
PSX ends with significant downturn
KARACHI: The Pakistan Stock Exchange (PSX) concluded its trading session on Wednesday with a significant downturn, reflecting an intensifying bearish trend that saw all key benchmark indices finish deep in the red. The benchmark KSE100 Index recorded a substantial decline of 1,505.11 points or 1.23 percent, to settle at 120,466 points. This marks a sharper retreat compared to yesterday's 0.21 percent loss. Throughout the day, the index navigated a volatile range, peaking at 121,905.50 points before finding its intraday low at 120,418 points. On Wednesday, BRIndex100 closed at 12,977.46 points, down by 141.94 points or 1.08 percent, with a total volume of 476.34 million shares. BRIndex30 closed at 37,255.87 points, a decrease of 727.23 points or 1.91 percent, with a total volume of 297.43 million. 'Weak global equities, a falling rupee, and persistent concerns over the economic outlook triggered panic selling at the PSX,' said Ahsan Mehanti, Director at Arif Habib Corporation. Stocks fell across the board on Wednesday, as elevated Middle East tensions and investor concerns over a dismal $103 million current account deficit for May 2025 — driven by surging imports — further dampened investor sentiment. The combination of external pressures and weak macroeconomic indicators played a catalyst role in dragging the market lower. Trading activity saw a notable contraction across all segments compared to the previous day, indicating reduced investor participation amid the prevailing apprehensions. Total turnover in the Ready Market declined sharply to approximately 707.30 million shares, a substantial drop from yesterday's 1.15 billion shares. Concurrently, the traded value in the Ready Market also decreased to approximately Rs 21.27 billion from Rs 27.98 billion. The overall market capitalization experienced a significant contraction of approximately Rs 170.35 billion, shrinking from Rs 14.780 trillion yesterday to Rs 14.610 trillion today. Among the top companies by turnover in the Ready Market, WorldCall Telecom once again led the charge with a substantial 110.91 million shares traded, closing at Rs 1.50. Prud Mod. Ist followed with 51.71 million shares that closed at Rs 4.61, and Pervez Ahmed Co saw 41.07 million shares change hands and finished at Rs 3.15. In terms of price movements, Macter International Limited surged by Rs 46.72 to close at Rs 513.90, and Hinopak Motors Limited gained Rs 41.00 to finish at Rs 451.03. On the losing end, PIA Holding Company Limited experienced a sharp decline of Rs 1,530.02, settling at Rs 13770.15, while Unilever Pakistan Foods Limited dropped by Rs 211.00 to close at Rs 22,989.00. The market breadth overwhelmingly skewed towards the negative, signalling widespread selling pressure. In the Ready Market, a mere 102 companies advanced, while a significant 327 declined and 41 remained unchanged out of the total 470 traded entities. The BR Automobile Assembler Index closed at 20,468.16, marking a negative change of 308.15 points or 1.48 percent, with a total turnover of 3.97 million shares. The BR Cement Index concluded at 10,241.72 points, down by 132.91 points or 1.28 percent, and recorded a total turnover of 33.43 million. Meanwhile, the BR Commercial Banks Index while experiencing a decrease of 356.49 points or 0.97 percent finished at 36,512.82 points, with a total turnover of 50.65 million. The BR Power Generation and Distribution Index closed at 20,846.64, reflecting a negative change of 565.63 points or 2.64 percent, and a total turnover of 13.45 million. The BR Oil and Gas Index ended at 11,550.92, declining by 175.32 points or 1.5 percent, with a total turnover of 51.91 million. Lastly, the BR Technology & Communication Index closed at 2,864.30, showing a decrease of 82.49 points or 2.8 percent, and a total turnover of 138.95 million. In its commentary, the Topline Securities cited that the PSX endured a lacklustre trading session on Wednesday, mirroring the nervous sentiment across global markets. It said that rising geopolitical tensions, particularly the escalating standoff between Iran and Israel, weighed heavily on investor confidence. The atmosphere of uncertainty prompted a risk-averse approach, leaving the market directionless for most of the day. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
Stock market slides
KARACHI: The Pakistan Stock Exchange (PSX) experienced a bearish close on Tuesday, as key benchmark indices retreated following a session primarily marked by declining scrips. The benchmark KSE100 Index shed 254.32 points, representing a 0.21 percent dip, to settle at 121,971.04 points. Throughout the day, the index saw fluctuations, reaching a high of 122,891.61 points before bottoming out at 121,815.39 points. BRIndex100 closed at 13,119.40, gaining 14.06 points or 0.11 percent with a total turnover of 846.78 million shares. On the other hand, BRIndex30 edged down by 12.07 points or 0.03 percent to close at 37,983.10. The total volume on BRIndex30 stood at 527.53 million shares. Topline Securities noted that the Pakistan Stock Exchange witnessed a volatile session on Tuesday, closely tracking global market cues. Amid growing geopolitical uncertainty surrounding tensions between Iran and Israel, investors remained cautious, leading to a lack of clear direction throughout the session, it added. Sentiment stayed fragile as the market struggled to find firm footing. On the upside, index-heavyweights UBL, HBL, SYS, and OGDC provided some support, jointly contributing 219 points. However, losses in PKGP, LUCK, ENGROH, and HUBC offset those gains, dragging the index down by a combined 291 points. Market sentiment was predominantly negative in the Ready Market, where 244 companies witnessed declines against 193 advances and 36 scrips remained unchanged, out of a total of 473 traded entities. Trading activity remained robust, though overall turnover saw a slight moderation from the previous day. Total turnover in the Ready Market stood at approximately 1.15 billion shares, down from 1.22 billion shares on June 16, yet it generated a higher traded value of roughly Rs 27.98 billion, compared to Rs 25.75 billion previously. This suggests higher-priced scrips saw increased activity. The market capitalization for the Ready segment experienced a contraction of approximately Rs 21.28 billion on Tuesday. It settled at approximately Rs 14.780 trillion, down from Rs 14.801 trillion on the previous trading day. WorldCall Telecom led the volumes chart with 239.76 million shares, closing at Rs 1.61. Pervez Ahmed Co followed with a turnover of 97.49 million shares, settling at Rs 3.88. Sui Southern Gas traded 49.86 million shares, ending the session at Rs 44.82. Notable performers by rate change in the Ready Market included Macter International Limited, which saw a significant increase of Rs 42.47 per share to close at Rs 467.18, and Mills Limited, which rose by Rs 39.02 to close at Rs 794.89. Conversely, PIA Holding Company LimitedB experienced a sharp decline of Rs 1700.02, ending at Rs 15300.17, while Khyber Textile Mills Limited decreased by Rs 158.06 to close at Rs 1457.04. The BR Automobile Assembler Index closed at 20,776.31 points, experiencing a net negative change of 20.06 points, or 0.1 percent, on a total turnover of 5.14 million shares. The BR Cement Index closed at 10,374.63 points, recording a net negative change of 64.29 points, or 0.62 percent, with a total turnover of 64.71 million shares. Conversely, the BR Commercial Banks Index concluded the session at 36,869.31 points, showing a positive change of 126.64 points, or 0.34 percent, and a total turnover of 127.86 million shares. The BR Power Generation and Distribution Index experienced a negative change of 532.89 points or 2.43 percent and finished at 21,412.27 points on a turnover of 24.19 million shares. Conversely, the BR Oil and Gas Index concluded the session at 11,726.24 points, registering a positive change of 14.63 points, or 0.12 percent, with a turnover of 82.58 million shares. The BR Technology & Communication Index also settled positively at 2,946.79 points, up by 13.67 points, or 0.47 percent, on a robust turnover of 294.99 million shares. According to Ahsan Mehanti of Arif Habib Corporation, PSX experienced a downturn, with stocks closing lower amidst a broader rout in global equities. This decline was primarily driven by geopolitical uncertainty and the State Bank of Pakistan's (SBP) status quo on the key policy rate, influenced by the inflationary impact of the ongoing Israel-Iran conflict. Further exacerbating the negative sentiment at PSX was a weakening rupee, fueled by Middle East tensions and rising imports. Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
PSX nudges up
KARACHI: The Pakistan Stock Exchange (PSX) concluded Monday's trading session with a mixed performance across its indices, reflecting a nuanced market sentiment. While the benchmark KSE-100 Index managed a modest gain, broader market activity indicated a tug-of-war between bullish and bearish forces. The KSE-100 Index registered a fractional gain of 81.79 points, or 0.07 percent, to close at 122,225.36 points, up from its previous close of 122,143.57 points. It touched an intraday high of 122,903.34 points before paring some gains. On Monday, BRIndex100 closed at 13,105.34 points, up 68.08 points or 0.52 percent higher than its previous close. Total volume was 958.399 million shares. Meanwhile, BRIndex30 closed at 37,995.17 points, which was 268.88 points or 0.71 percent higher than its previous close. Total volume remained 591.865 million shares. According to Ahsan Mehanti of Arif Habib Corporation, the PSX's positive close was driven by several factors. Stocks advanced despite geopolitical risks, fueled by speculation over the State Bank of Pakistan's (SBP) policy announcement expected later on Monday. Furthermore, high trade volumes amidst market consolidation, a recovery in global equities, and upbeat FY26 projections from the IMF regarding privatization and GDP growth, alongside the federal Public Sector Development Program (PSDP) in the Federal Budget FY26, all played a catalytic role. Total Ready Market turnover for the day stood at 1.224 billion shares, an increase from the previous session's 968.346 million shares. However, the traded value in the Ready Market saw a decline to Rs 25.75 billion from Rs 29.55 billion on the prior day, indicating a lower average price per share traded despite increased volume. The market capitalization notably increased to Rs 14.802 trillion from Rs 14.748 trillion, an uplift of Rs 54.179 billion. Market breadth in the Ready Market remained positive, with 282 companies advancing against 159 declining, while 30 remained unchanged out of a total of 471 traded scrips. This suggests a tilt towards gainers despite the overall modest index performance. On Monday, WorldCall Telecom led the turnover charts with 267.081 million shares changing hands, closing at Rs 1.62. Other active scrips included Pervez Ahmed Co., which saw 92.03 million shares traded and ended at Rs 3.93. Meanwhile, Ist. Capital Sec also saw significant trading activity with over 86 million shares traded, closing higher at Rs 3.85. Among the top gainers, Macter International Limited surged by Rs 38.61 to close at Rs 424.71, and Blessed Textiles Limited increased by Rs 26.89 to Rs 304.91. Conversely, PIA Holding Company LimitedB experienced a notable decrease of Rs 1,888.91, closing at Rs 17,000.19, and Khyber Textile Mills Limited saw a decline of Rs 179.45 to Rs 1,615.10. The BR Automobile Assembler Index closed at 20,796.37 points, registering a negative change of 0.09 percent, with a total turnover of 9.432 million shares. Similarly, the BR Cement Index saw a decline of 70.09 points or 0.67 percent, settling at 10,438.92 points, with 88.206 million shares traded. The BR Power Generation and Distribution Index also experienced a significant dip, falling by 410.53 points or 1.84 percent to 21,945.16 points, on a turnover of 28.033 million shares. Conversely, the BR Commercial Banks Index gained 325.37 points or 0.89 percent, closing at 36,742.67 points, with a turnover of 40.802 million shares. The BR Oil and Gas Index also advanced by 100.71 points or 0.87 percent, reaching 11,711.61 points, as 54.234 million shares changed hands. Leading the positive change was the BR Technology & Communication Index, which climbed 30.13 points or 1.04 percent to close at 2,933.12 points, and recorded a turnover of 342.234 million shares. The day's trading reflected selective buying interest in certain sectors, indicating that investors are keenly evaluating specific company fundamentals amidst the broader economic indicators and the prevailing geopolitical climate. In its commentary, JS Global cited that the market opened on a positive note but failed to sustain momentum. It eventually closed at 122,225 points, as profit-taking emerged later in the session. Trading activity was dominated by small-cap stocks, reflecting short-term speculative interest. Risk management remains key amid geopolitical uncertainty and macro developments, it added. Copyright Business Recorder, 2025
Business Recorder
7 days ago
- Business
- Business Recorder
‘Bloodbath' on PSX
KARACHI: The Pakistan Stock Exchange (PSX) plunged on Friday as escalating regional tensions, following Israel's strikes on nuclear and other sites in Iran, triggered a wave of intense selling. The sharp drop wiped out recent gains and marked a clear shift from the week's earlier cautious optimism to deepening bearish sentiment. The benchmark KSE-100 Index bled throughout the day, closing with a massive loss of 1,949.56 points, a 1.57 percent decrease, to settle at 122,143.57 points. The index fluctuated between an intraday high of 123,058.06 and a low of 121,604.60. The steep decline on Friday was a severe intensification of Thursday's performance, where the index had only shed 259.56 points to close at 124,093.12 points. On Friday, the BRIndex100 dropped by 207.55 points or 1.57 percent to close at 13,037.26 points with a total trading volume of 698.1 million shares. The BRIndex30 also fell by 745.25 points, or 1.94 percent, ending at 37,726.29 points with 400.1 million shares traded. Analysts noted that the sell-off was broad-based, dragging down all major indices. Topline Research noted that KSE-100 Index largely traded in negative zone during the trading session in line with international and regional, which came down on Israel attack on Iran. Top negative contribution to the index came from ENGROH, FFC, LUCK, BAHL, MEBL, SYS and PPL, as they cumulatively contributed 863 points to the index. The widespread sell-off was accompanied by a significant drop in market activity compared to previous day. The total traded value in the ready market slumped to Rs 29.56 billion from the previous day's much healthier Rs 50.54 billion. Similarly, turnover decreased to 968.34 million shares from 1.02 billion shares traded on Thursday. The overall market capitalization too eroded substantially, falling to Rs 14.75 trillion from Rs 14.95 trillion a day earlier, wiping out Rs 20 billion in investor wealth. Despite the downturn, several companies saw heavy trading volumes. Pervez Ahmed Co was the volume leader with 116.66 million shares traded, closing at Rs 2.93. It was followed by WorldCall Telecom, which saw 100.89 million shares change hands to close at Rs 1.45. Capital Sec was also active, with a turnover of 85.32 million shares and its closing rate was Rs 3.06. The market remained highly volatile throughout the day. Supernet Technologies Limited led the gainers, rising by Rs 41.74 to close at Rs 873.40. Faisal Spinning Mills Limited also performed well, adding Rs 29.96 to reach Rs 329.96. On the losing side, PIA Holding Company Limited saw the biggest drop, falling by Rs 2,098.79 to close at Rs 18,889.10, while Khyber Textile Mills Limited lost Rs 199.39, ending at Rs 1,794.55. As the market was mostly negative, selling pressure dominating the session. Out of 469 active companies, 304 saw their share prices fall, 130 gained, and 35 remain unchanged. The BR Automobile Assembler Index closed at 20,814.19 points, down by 215.84 points or 1.03 percent, with a trading volume of 11.3 million shares. The BR Cement Index ended at 10,509.01 points, losing 275.45 points or 2.55 percent, as 75.1 million shares were traded. The BR Commercial Banks Index settled at 36,417.30 points after shedding 464.59 points or 1.26 percent, with 67.7 million shares changing hands. In contrast, the BR Power Generation and Distribution Index inched up by 15.09 points or 0.07 percent, closing at 22,355.69 points with a turnover of 28.0 million shares. The BR Oil and Gas Index dropped 163.83 points or 1.39 percent to finish at 11,610.90 points, with 44.3 million shares traded. Meanwhile, the BR Technology and Communication Index declined by 60.59 points or 2.04 percent, closing at 2,902.99 points, leading the market in volume with 154.4 million shares traded. According to Ahsan Mehanti of Arif Habib Corp, Stocks at the Pakistan Stock Exchange (PSX) plunged on Friday as escalating tensions in the Middle East triggered a wave of panic selling. Market sentiment took a sharp hit after reports of Israeli strikes on Iranian targets, raising fears of a broader regional conflict, he added. The pressure intensified as global equities tumbled on geopolitical risks, while a weakening rupee added to the nervousness among investors the combination of heightened regional uncertainty and a falling local currency played a catalytic role in driving the market's sharp downturn. Copyright Business Recorder, 2025
