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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
Express Tribune
13-06-2025
- Business
- Express Tribune
KSE-100 index plummets 2,186 points, amid geopolitical tensions
The Pakistan Stock Exchange (PSX) experienced a notable decline on Friday, with the KSE-100 index falling by 1,949.56 points, closing at 122,143.56 amid escalating geo-political tensions that followed Israel's attack on Iran earlier today. The KSE 100 Index ended the day's session registering a decline of 1.57%. The index recorded a high at 123,058.06 points during the day, while the low reached 121,604.59. Trading volume stood at 237,086,212 shares, with a total value of 19,718,824,728. The index had previously closed at 124,093.12. Israel launched an attack on Iran todaytargeting the country's nuclear facilities under the pretext of preventing Tehran from developing atomic weapons. The attack, that killed Iranian nuclear scientists and targetted the top 20 military commanders despite Iran's long-standing insistence that its nuclear-related activity is for peaceful purposes. Israel, which is believed to be the only nuclear armed state in the Middle East, has declared a state of emergency in anticipation of retaliation by Tehran. Earlier on Thursday, the PSX saw a turbulent session, with the benchmark KSE-100 index hitting a record intra-day high of 126,718 before reversing course and closing modestly lower. At the end of trading, the benchmark KSE-100 index lost 259.56 points, or 0.21%, and settled at 124,093.12. The market volatility continues to reflect broader uncertainties tied to global events. Early gains were supported by improved investor sentiment, driven by the budget announcement, robust remittances and monetary policy expectations. However, the rally lost steam as the session progressed, with profit-taking in overheated stocks and geopolitical uncertainty surrounding the Middle East, undermining sentiment. Arif Habib Corp MD Ahsan Mehanti stated that stocks closed under pressure on geopolitical uncertainty and post-budget profit-taking in overbought shares. "The rout in global equities on Middle East tensions, a slump in international crude oil prices and a weak rupee on contracting exports were among the key factors behind the bearish close of the market," he added. JS Global analyst Mubashir Anis Naviwala said that the index hit a high of 126,718 before profit-taking dragged it down by 260 points. The analyst advised investors to watch for key support levels and use dips to accumulate stocks with focus on fertiliser, cement and banking sectors for near-term opportunities.
Express Tribune
11-06-2025
- Business
- Express Tribune
PSX continues record rally as KSE-100 breaches 124,000 points for first time
The stake sale would be followed up with a listing of a further 20% of stock exchange shares in the domestic market Listen to article The Pakistan Stock Exchange (PSX) reached a new all-time high on tuesday, with the KSE 100 Index crossing the 124,000-point mark for the first time in history during intraday trading. The index gained 1,990.41 points, or 1.63%, as the market stood at 124,014.85 around noon local time. During the ongoing session, it peaked at 124,135.96 points, while the intraday low was 123,237.99 points. Trading volume stood at 146.42 million shares, with a total market value of Rs13.84 billion. This surge follows the announcement of the federal budget, which has been well-received by investors, sparking optimism in the market. Read: Anti-digital, pro-realty sector budget Yesterday, Finance Minister Muhammad Aurangzeb unveiled a Rs17.6 trillion federal budget for fiscal year 2025-26, laying stress on the government's focus on economic stability and growth. Finance Minister highlighted key economic indicators during a post-budget briefing, citing improvements in remittances, inflation, and growth. Aurangzeb said remittances had reached $31.2 billion so far, with projections of $37–38 billion by the end of the financial year. The country's GDP growth stands at 2.7%, while inflation has eased to 4.7%, according to the minister. The National Economic Council (NEC) approved Rs4.224 trillion in development spending, including Rs1 trillion for the federal Public Sector Development Programme (PSDP), Rs2.869 trillion for Provincial Annual Development Plans (ADPs), and Rs355 billion from state-owned enterprises' own resources. For the fiscal year 2025–26, the government projects economic growth at 4.2% and both inflation and interest rates at 7.5%. Aurangzeb said the budget deficit is forecast at 3.9% of GDP, with a primary surplus of 2.4%.
Business Recorder
30-05-2025
- Business
- Business Recorder
KSE-100 adds 720 points amid bullish momentum
Buying rally continued at the Pakistan Stock Exchange (PSX) on Friday, with the benchmark KSE-100 Index closing the day with a gain of 720 points. The bulls largely maintained their grip over the market, hitting the index to an intra-day high of 119,913.88. At close, the benchmark index settled at 119,691.09, up by 719.69 points or 0.60%. Top positive contributions to the index came from FFC, MEBL, HUBC, PKGP, ENGROH and MCB, as they cumulatively contributed 668 points to the index, brokerage house Topline Securities said in its post-market report. The KSE 100 Index gained 7.5% on month-on-month (MoM) basis. 'This gain can be attributed to cut in policy rate by 100bps by SBP to 11% in its monetary policy meeting - citing improvement in inflation outlook relative to the previous assessments and approval of first review of EFF by IMF board along with a new facility under Resilience and Sustainability Facility of US$1.4 billion,' Topline said. On Thursday, the PSX closed in the green zone, as investors remained strong due to various domestic and international reasons. The KSE-100 Index gained 638.50 points or 0.54% to settle at 118,971.40 points. Internationally, stocks slipped in Asia on Friday, and the US dollar dropped with Treasury yields as investors digested an appeals court's decision to keep President Donald Trump's tariffs in effect, a day after markets rallied on a separate ruling blocking most of them. Japan's Nikkei saw the most pronounced selling, after experiencing the most pronounced buying on Thursday, with moves in the exporter-heavy index exacerbated by the ebb and flow in demand for the safe-haven yen. Asian shares, US dollar climb on rosy data, tech optimism The United States Court of Appeals for the Federal Circuit in Washington temporarily reinstated Trump's duties on Thursday while it considers the government's appeal. The Nikkei dropped 1.7% in the Asian morning, putting it basically back at Wednesday's closing level. The yen strengthened about 2% from its low on Thursday to last change hands at around 143.48 per US dollar. A stronger yen reduces the value of overseas revenues. Hong Kong's Hang Seng sank 1.4% and mainland China's blue chip index eased 0.3% in early trading. South Korea's KOSPI fell 0.5%. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.4%. Meanwhile, the Pakistani rupee registered marginal gain against the US dollar, appreciating 0.02% in the inter-bank market on Friday. At close, the local currency settled at 282.02, a gain of Re0.05 against the greenback. Volume on the all-share index decreased to 580.32 million from 741.65 million recorded in the previous close. The value of shares declined to Rs22.74 billion from Rs23.91 billion in the previous session. WorldCall Telecom was the volume leader with 79.67 million shares, followed by K-Electric Ltd with 47.70 million shares, and Cnergyico PK with 35.76 million shares. Shares of 474 companies were traded on Friday, of which 259 registered an increase, 161 recorded a fall, while 54 remained unchanged.
