Latest news with #PSX
Business Recorder
8 hours ago
- Business
- Business Recorder
KSE-100 Index closes flat after volatile trading
The Pakistan Stock Exchange (PSX) witnessed volatile trading on Friday, as its benchmark KSE-100 Index swayed in both directions before closing the day nearly flat. The KSE-100 started the session positive, but soon witnessed selling pressure that put the index to an intra-day low of 119,872.16. However, the bulls regained momentum in the final hours and brought the index back to the green. At close, the benchmark index settled at 120,023.24, marginally up by 20.65 points or 0.02%. 'KSE-100 lndex after opening on a positive note, traded in positive zone during the most part of trading session on news that Trump administration has decided to exercise restraint and will decide on US action in Israel-Iran conflict within two weeks,' brokerage house Topline Securities said in its post-market report. 'However, due lack of confidence surrounding the conflict, KSE-100 Index came down during the latter hours of the trade to close on a flat note.' Top positive contribution to the index came from HUBC PA, SYS PA, UBL PA, OGDC PA, MLCF PA and PPL PA, as the cumulatively contributed 168 points to the index. Whereas top negative contribution to the index came from PKGP PA, TRG PA, FFC PA, PSEL PA, EFERT PA and MCB PA, as they cumulatively contributed 180 points to the index. On Thursday, the PSX experienced another downbeat trading day, with most key indices registering declines despite some individual company gains. The KSE-100 index dropped by 463.34 points or 0.38% to end the day at 120,002.59. Globally, share markets in Asia struggled for direction on Friday as fears of a potential U.S. attack on Iran hung over markets, while oil prices were poised to rise for a third straight week on the escalating Israel-Iran conflict. Overnight, Israel bombed nuclear targets in Iran, and Iran fired missiles and drones at Israel as a week-old air war intensified with no sign yet of an exit strategy from either side. The White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war. The U.S. President is facing uproar from some of his MAGA base over a possible strike on Iran. Brent fell 2% on Friday to $77.22 per barrel, but is still headed for a strong weekly gain of 4%, following a 12% surge the previous week. Still, a cautious mood prevailed in markets with Nasdaq futures and S&P 500 futures both 0.3% lower in Asia. U.S. markets were closed for the Juneteenth holiday, offering little direction for Asia. The MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% but was set for a weekly drop of 1%. Japan's Nikkei slipped 0.2%. China's blue chips rose 0.3%, while Hong Kong's Hang Seng gained 0.5%, after the central bank held the benchmark lending rates steady as widely expected. In the currency markets, the dollar was on the back foot again, slipping 0.2% to 145.17 yen after data showed Japan's core inflation hit a two-year high in May, which kept pressure on the Bank of Japan to resume interest rate hikes. Investors, however, see little prospect of a rate hike from the BOJ until December this year, which is a little over 50% priced in. Meanwhile, the Pakistani rupee posted marginal decline against the US dollar, depreciating 0.02% during trading in the interbank market on Friday. At close, the local currency settled at 283.70, a loss of Re0.06 against the greenback. Volume on the all-share index decreased to 421.64 million from 604.54 million recorded in the previous close. The value of shares declined to Rs15.65 billion from Rs20.44 billion in the previous session. WorldCall Telecom was the volume leader with 42.79 million shares, followed by TRG Pak Ltd with 26.66 million shares, and Pervez Ahmed Co with 25.53 million shares. Shares of 468 companies were traded on Friday, of which 178 registered an increase, 245 recorded a fall, while 45 remained unchanged.
Business Recorder
17 hours ago
- Business
- Business Recorder
Buying at PSX, KSE-100 gains over 600 points
Buying momentum was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 600 points during the opening minutes of trading on Friday. At 9:35am, the benchmark index was hovering at 120,609.85 level, an increase of 607.26 points or 0.51%. Across-the-board buying was seen in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including PRL, HUBCO, PSO, SNGPL, MARI, OGDC, POL, PPL, NBP, MEBL and UBL traded in the green. On Thursday, the PSX experienced another downbeat trading day, with most key indices registering declines despite some individual company gains. The KSE-100 index dropped by 463.34 points or 0.38% to end the day at 120,002.59. Globally, share markets in Asia struggled for direction on Friday as fears of a potential U.S. attack on Iran hung over markets, while oil prices were poised to rise for a third straight week on the escalating Israel-Iran conflict. Overnight, Israel bombed nuclear targets in Iran, and Iran fired missiles and drones at Israel as a week-old air war intensified with no sign yet of an exit strategy from either side. The White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war. The U.S. President is facing uproar from some of his MAGA base over a possible strike on Iran. Brent fell 2% on Friday to $77.22 per barrel, but is still headed for a strong weekly gain of 4%, following a 12% surge the previous week. Still, a cautious mood prevailed in markets with Nasdaq futures and S&P 500 futures both 0.3% lower in Asia. U.S. markets were closed for the Juneteenth holiday, offering little direction for Asia. The MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% but was set for a weekly drop of 1%. Japan's Nikkei slipped 0.2%. China's blue chips rose 0.3%, while Hong Kong's Hang Seng gained 0.5%, after the central bank held the benchmark lending rates steady as widely expected. In the currency markets, the dollar was on the back foot again, slipping 0.2% to 145.17 yen after data showed Japan's core inflation hit a two-year high in May, which kept pressure on the Bank of Japan to resume interest rate hikes. Investors, however, see little prospect of a rate hike from the BOJ until December this year, which is a little over 50% priced in. This is an intra-day update
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
Express Tribune
a day ago
- Business
- Express Tribune
Stocks fall as Mideast conflict sparks selling
Listen to article Pakistan Stock Exchange (PSX) ended lower by over 450 points on Thursday following a volatile session as early gains, driven by policy optimism, were wiped out by selling pressure amid escalating Middle East tensions. Earlier, trading opened on a robust note in the wake of federal cabinet's approval of a large-scale circular debt resolution plan worth Rs1.2 trillion, which fuelled broad-based buying in energy sectors. However, news of Iran's missile strikes on Israel rattled investors, leading to a sharp reversal. The heightened tensions spurred profit-taking, particularly in fertiliser and cement sectors. Banks emerged as a safe-haven, providing some support. Arif Habib Corp MD Ahsan Mehanti commented that stocks closed lower on fears of escalation in Middle East tensions. "Weak rupee and a slump in global equities were factors behind panic selling," he said. At the end of trading, the benchmark KSE-100 index registered a drop of 463.34 points, or 0.38%, and settled at 120,002.59. Arif Habib Limited Deputy Head of Trading Ali Najib noted that geopolitical ripples drove bulls to sidelines as the KSE-100 index extended losses by closing at 120,003, just above the key psychological level of 120k. The index reflected a day-on-day decline of 463 points. The trading session opened with a strong bullish momentum following the cabinet's approval of over Rs1.2 trillion for circular debt resolution. This development was well-received by investors, prompting heavy buying in key energy stocks, including OGDC, Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO) and Hub Power, he said. However, news of Iran's attack on the Israeli capital weighed on bullish sentiment, triggering profit-taking. As a result, the index lost its upward momentum and briefly fell below the 120,000 mark, hitting the intra-day low of 119,770, down 696 points, Najib added. KTrade Securities, in its report, stated that stocks extended their downward trend as escalating Israel-Iran tensions weighed on investor sentiment. The KSE-100 index shed 463 points to close at 120,003, retreating from the intra-day high of 121,745. Market activity remained muted, with total volumes at 598 million shares. Sector performance was broadly negative, where power, cement and oil and gas sectors faced steep losses, it said. Key index laggards were Pakgen Power, Engro Fertilisers, Engro Holdings, Lucky Cement and Mari Petroleum. The banking sector was the sole bright spot, largely supported by UBL, KTrade added. Topline Securities reported that the bourse kicked off trading on a strong footing, buoyed by news that the federal cabinet had green-lighted a financial restructuring plan aimed at slashing Rs1.275 trillion in circular debt within the power sector over the next six years. Riding on that optimism, the index surged to the intra-day high of 1,279 points. However, the bullish momentum was short-lived as profit-taking set in later in the day in line with global market trends, it said. Rising geopolitical tensions, particularly the intensifying stand-off between Israel and Iran, dampened investor sentiment and led to a broad-based pullback, overshadowing the earlier euphoria and highlighting the fragility of market confidence. On the upside, index heavyweights from the banking sector provided some support, contributing 203 points. However, the gains were offset by power and cement sectors that pulled the index down by 270 points, Topline added. Overall trading volumes decreased to 604.5 million shares compared with Wednesday's tally of 707.3 million. Shares of 459 companies were traded. Of these, 155 stocks closed higher, 269 fell and 35 remained unchanged. WorldCall Telecom was the volume leader with trading in 64.6 million shares, down Rs0.01 to close at Rs1.49. It was followed by Sui Southern Gas Company with 35.6 million shares, falling Rs0.96 to close at Rs43.28 and First Prudential Modaraba with 30.3 million shares, losing Rs0.3 to close at Rs4.31. Foreign investors sold shares worth Rs7.6 million, the National Clearing Company reported.
Business Recorder
a day ago
- Business
- Business Recorder
Volatility at PSX, KSE-100 sheds nearly 500 points
A volatile session was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index swinging both ways, settling lower by nearly 500 points on Thursday. Trading at the bourse began on a positive note, with the benchmark KSE-100 Index hitting an intra-day high of 121,745.30. However, selling pressure propelled by rising regional tensions dragged the benchmark index to an intra-day low of 119,770.03. At close, the benchmark index settled at 120,002.59 level, a decrease of 463.34 points or 0.38%. In a key development, United States President Donald Trump on Wednesday said that he was 'honoured' to meet Field Marshal Syed Asim Munir for talks at the White House — also marking the first time a US president has hosted army chief at the White House unaccompanied by senior civilian officials. The lunch is being seen in Islamabad as a major diplomatic win, particularly because earlier this month, an Indian delegation met US Vice President JD Vance and Indian media depicted it as a diplomatic success, contrasting it with the apparent inability of the Pakistani delegation to secure a similar meeting. Moreover, the Federal Reserve held interest rates steady on Wednesday and policymakers signalled borrowing costs are still likely to fall this year, but slowed the overall pace of expected future rate cuts in the face of estimated higher inflation flowing from the Trump administration's tariff plans. On Wednesday, bearish sentiments prevailed at the PSX, with the benchmark KSE-100 Index settling at 120,465.93, amid a loss of 1,505.11 points. Internationally, stock markets in Asia edged lower on Thursday while safe havens such as gold and the Japanese yen gained as investors remained on edge over the possible entry of the United States into the week-old Israel-Iran air war. President Donald Trump kept the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, 'I may do it. I may not do it.' The Wall Street Journal said Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. Japan's Nikkei sank 0.8%, with additional downward pressure stemming from a stronger yen, which reduces the value of overseas revenues for the country's heavyweight exporters. Taiwan's stock benchmark slid 0.9%, and Hong Kong's Hang Seng declined 0.8%. US S&P 500 futures pointed 0.4% lower, although most US markets - including Wall Street and the Treasury market - are closed on Thursday for a national holiday. Brent crude edged down to $76.32 per barrel, but remained not far from the 4-1/2-month peak of $78.50 reached on Friday. The yen gained 0.2% to 144.92 per dollar, while the US currency itself was also in demand as a haven, gaining 0.1% to $1.1472 per euro and 0.2% to $1.3398 versus sterling.
