Tag: KSE-100

  • PSX closes at new record high of 86,466 points

    PSX closes at new record high of 86,466 points

    Pakistan Stock Exchange (PSX) opened Tuesday on a positive note and managed stay nearly 600 points up throughout the trading session.

    The benchmark KSE-100 index was seen at its highest level during the day session when it surged to record peak of 86,846.03 points at 9:59 AM after rising by 788 points from its last close of 86,057. This occurred when the volume stood at 36,842,210.

    Interestingly, the lowest point PSX witnessed was also recorded at the opening hour, around 9:30 AM, when the stock market was seen at its lowest point for day, reaching 86,294.69.

    Pakistan Stock Exchange

    Still, throughout the day, the KSE-100 index managed to stay in in the positive territory and ended the second trading session of the week in green with a new record high of 86,466.57.

    The total volume of the KSE-100 index was 415.551 million shares.

    The PSX closed with a gain of 409 points or 0.48 per cent.

    Market summary Details
    Overall performance 63 companies closed up, 34 closed down, 3 were unchanged.
    Top gainers KEL (+13.41%), ATRL (+8.28%), SYS (+7.44%), CHCC (+6.03%), MEHT (+5.19%)
    Top decliners PAKT (-6.18%), PGLC (-5.41%), PIBTL (-4.40%), EPCL (-2.95%), YOUW (-2.42%)
    Index-point contributors (Up) SYS (+174.04 points), LUCK (+62.46 points), HUBC (+51.71 points), ATRL (+48.33 points), KEL (+44.48 points)
    Index-point contributors (Down) FFC (-108.64 points), PAKT (-29.07 points), PSO (-21.78 points), BAHL (-20.80 points), EFERT (-17.23 points)
  • PSX bounces back from early losses, ends in green with 30-point gain

    PSX bounces back from early losses, ends in green with 30-point gain

    The Pakistan Stock Exchange (PSX) had a rough start on Friday, with the KSE-100 Index dropping by 0.79 per cent in early trading.

    By the end of the day, the index managed to recover marginally and closing almost flat at 85,483.40 points. The gain PSX witnessed was just 30.18 points, or 0.04 per cent.

    PSX closing (October 11, 2024)

    During trading hours, the index swung up and down within a range of 975 points. KSE-100 reached a high of 85,750 points and dipped to a low of 84,774 points. A total of 295 million shares were traded within the PSX.

    Top gainers Change (%) Top decliners Change (%)
    ATLH +10.00% KOSM -11.84%
    PTC +8.13% HUBC -5.17%
    PIOC +7.50% YOUW -4.75%
    PSO +5.16% ABL -3.39%
    ATRL +3.88% LUCK -3.28%
    Contributors

    Out of the 100 listed companies, 46 witnessed gains, 50 ended red, and 4 stayed same. The top gainers of Friday were companies including ATLH (+10.00 per cent), PTC (+8.13 per cent), PIOC (+7.50 per cent), PSO (+5.16 per cent), and ATRL (+3.88 per cent).

    On the losing side, the biggest decliners were KOSM (-11.84 per cent), HUBC (-5.17 per cent), YOUW (-4.75 per cent), ABL (-3.39 per cent), and LUCK (-3.28 per cent).

    In terms of influencing overall index, PSO had the biggest positive impact, adding 68.72 points to the index, followed by FFC, EFERT, PIOC, and lastly UBL.

    Secondly, HUBC dragged the index down the most, bringing it down by 181.94 points, with LUCK, HBL, TRG, and SRVI also contributing to the drop.

    Overall, 560.74 million shares were traded across the stock market, up from 503.75 million on Thursday The total value of shares traded was recoeded Rs26.12 billion, which was Rs1.79 billion less than the last session.

  • PSX surges to record high as KSE-100 closes above 73,000 points

    PSX surges to record high as KSE-100 closes above 73,000 points

    After a series of subdued sessions, the Pakistan Stock Exchange (PSX) saw a resurgence of buying on Friday, propelling its benchmark KSE-100 index above the 73,000 mark for the first time in history.

    The positive momentum reflected renewed investor confidence amid signs of economic stability.

    The KSE-100 index opened on a bullish note, reaching an intra-day high of 73,449.37 before settling at 73,085.50, a gain of 427.45 points or 0.59 per cent by the close of trading.

    Despite some sporadic selling during the day, the bulls largely controlled the market, resulting in a robust session.

    Industries driving the surge

    Key sectors that drove the surge included cement, chemical, oil and gas exploration companies, and oil marketing companies (OMCs). Index-heavy stocks such as Lucky Cement (LUCK), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO), Sui Northern Gas Pipelines Limited (SNGPL), and Sui Southern Gas Company (SSGC) closed in the green, contributing significantly to the overall upward trend.

    Market experts attribute the surge to a combination of improved economic indicators and investor expectations.

    Pakistan’s foreign exchange reserves and remittances have shown positive growth, suggesting a stabilising economy.

    Additionally, there is anticipation of a potential policy rate cut in the upcoming Monetary Policy Committee (MPC) meeting on June 10, following a recent decline in the inflation rate.

    On Thursday, the KSE-100 index had a marginal increase in a largely range-bound session, closing at 72,658.05, a gain of 56.24 points, or 0.08 per cent.

    The strong close on Friday underscores a more optimistic outlook for the market as investors continue to monitor key economic developments and policy changes.

  • PSX hits historic high: KSE-100 closes at record-breaking 67,142

    PSX hits historic high: KSE-100 closes at record-breaking 67,142

    Pakistan Stock Exchange’s (PSX) KSE-100 index surged to unprecedented heights in Thursday’s trading, culminating at a historic peak of 67,142.12, marking a substantial uptick of 594.34 points or 0.89 per cent.

    Throughout the trading day, the index demonstrated unwavering positivity, cresting at an intraday zenith of 67,246.03 (+698.24) and a nadir of 66,690.94 (+143.15) points, reflecting robust investor sentiment and confidence in the market’s trajectory.

    Trading activity was buoyant, with the KSE-100 index witnessing a total turnover of 231.314 million shares, underlining robust investor participation and liquidity in the market.

    The stellar performance of the KSE-100 index was underpinned by the commendable contributions of various sectors, notably Commercial Banks, which bolstered the index with 184.39 points, followed by Fertiliser (89.9 points), Cement (85.95 points), Oil & Gas Exploration Companies (49.32 points), and Oil & Gas Marketing Companies (27.36 points).

    Conversely, certain sectors experienced marginal declines, with Leather & Tanneries leading the downturn with 6.69 points, trailed by Transport (2.26 points), Real Estate Investment Trust (0.69 points), Miscellaneous (0.35 points), and Modarabas (0.31 points), albeit their impact remained subdued in the broader market context.

    In parallel, the Pakistani rupee (PKR) demonstrated resilience against the US dollar in the interbank market, appreciating marginally by approximately 1 paisa.

    The currency closed the trading session at PKR 278.03 per USD, exhibiting strength compared to the preceding session’s closure at PKR 278.04 per USD.

    During intraday trading, the rupee reached a peak bid of 278.1 and a trough ask of 278, reflecting stability and confidence in the domestic currency’s valuation.

    In the open market, exchange companies quoted the dollar at PKR 278.04 for buying and PKR 280.41 for selling, indicative of prevailing market dynamics and demand-supply dynamics.

  • Pakistan Stock Exchange sets record at 56,665 points following strong buying activity

    Pakistan Stock Exchange sets record at 56,665 points following strong buying activity

    The Pakistan Stock Exchange (PSX) experienced a positive trading session on Tuesday, with the benchmark KSE-100 index concluding at a record high of 56,665.93 after gaining 142 points.

    The day commenced with optimistic market sentiment, but a brief shift into negative territory occurred due to profit-taking activities.

    Nevertheless, a robust surge in buying activity during the latter part of the day allowed the index to finish in positive territory, reflecting a 0.25 per cent increase or 142 points. Despite notable profit-taking during the session, the market achieved a positive closure following periods of heightened volatility.

    Key contributors to the market’s performance during the session were identified in the power generation and distribution, technology, and communication sectors, as well as the automobile assembly sector, according to the brokerage house.

    This positive trend follows Monday’s milestone, where the KSE-100 Index surpassed the 56,500 level for the first time, recording a historic gain of over 1,132 points.

    Conversely, the Pakistani rupee sustained losses against the US dollar for the 16th consecutive session, depreciating by 0.11 per cent in the inter-bank market on Tuesday.

    According to the State Bank of Pakistan, the currency settled at 287.87, indicating a decrease of Re0.32.

    Market metrics revealed a decrease in volume on the all-share index, registering 526.3 million compared to the previous session’s 660.6 million.

    However, the value of shares witnessed an uptick, reaching Rs22.4 billion from Rs21.1 billion in the preceding session.

  • Pakistan stocks lose more than 1,400 points due to political uncertainty

    Pakistan stocks lose more than 1,400 points due to political uncertainty

    Political unrest caused significant selling pressure on the Pakistan Stock Exchange (PSX), which saw the benchmark KSE-100 Index lose more than 1,400 points on Tuesday during trading.

    The KSE-100 Index was down 1,432.25 points, or 3.5 per cent, at 39,538.57 around 3 o’clock, below the 40,000-mark, according to the PSX website.

    Investors were under pressure to sell their shares across the board due to Pakistan’s escalating political unpredictability and economic uncertainties.

    For a while now, there has been pressure on the market. Just last week, the benchmark KSE-100 Index dropped nearly 550 points due to domestic and global events, and the PSX experienced intense selling pressure. On Friday, it increased to close higher, but this week started off negatively once more.

    Experts claim that market pressure is resulting from the Pakistan Tehreek-e-(PTI) Insaf’s announcement that it will dissolve the Punjab and Khyber Pakhtunkhwa assemblies, according to Brecorder.

    In particular, the pressure has intensified since Monday’s event.

    A worsening economic crisis is accompanied by louder political clamour as foreign exchange reserves drop to dangerously low levels and negotiations with the International Monetary Fund (IMF) keep getting postponed.

    Analysts have also stated that although the World Bank’s approval of $1.692 billion for flood relief efforts in Sindh should have had a positive effect, political commotion is also obscuring this good news.

    Pakistan’s stock market is expected to remain under pressure till Friday until clarity is achieved on the political front.

  • PSX surpasses 43,000-mark on hopes of inflows from friendly countries

    PSX surpasses 43,000-mark on hopes of inflows from friendly countries

    The news that the country will get a financial package from friendly countries led to another bullish session at the Pakistan Stock Exchange on Friday.

    The benchmark index started the pre-Friday prayer session in the green, according to Arif Habib Ltd, but lacklustre activity caused the index to drop 96.39 points at the end of the session.

    However, as trading started again, the benchmark recovered. Following Finance Minister Ishaq Dar’s announcement of a $13 billion package from China and Saudi Arabia, investors started looking for equities. While significant activity was seen in the oil and exploration sector, volumes overall remained stable.

    The KSE-100 index settled at 43,092.95 points, up 191.68 points or 0.45 per cent from the preceding session.

    The trading volume decre­ased 20.8 per cent to 232.8m shares while the traded value went down 25.4 per cent to $34.4m on a day-on-day basis.

    Stocks contributing significantly to the traded volume included Cnergyico PK Ltd (21.1m shares), WorldCall Telecom Ltd (17.9m shares), TPL Properties Ltd (15.1m shares), Pakistan Refinery Ltd (14.8m shares) and Oil and Gas Development Company Ltd (12.5m shares).

    Sectors that contributed to the index performance were exploration and production (129.3 points), technology and communication (98.4 points), oil marketing (22.8 points), tobacco (13.1 points) and food and personal care products (12.8 points).

  • Pakistani rupee continues to fall against USD for the third consecutive session

    Pakistani rupee continues to fall against USD for the third consecutive session

    For the third session in a row, the Pakistani rupee lost 97 paise in the interbank market on Friday as it fell against the dollar.

    The local currency depreciated by 0.44 per cent from yesterday’s finish of Rs221.5 to settle at Rs222.47 per dollar, according to the State Bank of Pakistan.

    Data gathered by Mettis Global show that the value of the PKR has decreased by Rs16.64 or 7.52 per cent since the beginning of this fiscal year.

    This week’s first day saw the sovereign default risk rise to its highest level since November 2009. On October 25, the country’s five-year credit default swap (CDS), which functions as a form of insurance against the risk of sovereign default, climbed by more than three per centage points, reaching 52.8pc, a 13-year high.

    Investors’ decreasing confidence in Pakistan’s capacity to repay its international loans is reflected in the growing CDS level.

  • PKR loses for 6th straight session due to declining reserves

    PKR loses for 6th straight session due to declining reserves

    The Pakistani rupee dropped against the US dollar for the sixth straight session on Wednesday, losing 0.53 per cent in the inter-bank market.

    According to the State Bank of Pakistan (SBP), the local currency dropped by Rs1.17, or 0.53 per cent, to close at Rs220.88. In the last six trading sessions, the rupee has lost Rs3.09, or 1.4 per cent, of its value overall.

    The rupee lost value against the US dollar on Tuesday for the fifth consecutive session, closing at Rs219.71 after losing Rs0.82 (0.37 per cent).

    According to market analysts, the local currency’s weakness is caused by declining reserves and a lack of evidence of foreign capital inflows.

    In an interview with Bloomberg, Finance Minister Ishaq Dar said that the rupee has been “heavily undervalued”.

    “It is due to speculation – and some players in the market have been responsible for that,” he added.

    Globally, the greenback hung close to a 32-year peak versus the yen on Wednesday while edging up from a two-week trough against a basket of major peers as traders weighed improved risk sentiment against the prospect of aggressive Federal Reserve rate hikes.

    The dollar index – which measures the currency against six peers including the yen, sterling and euro – edged up to Rs112.01, after dropping to the lowest since October 6 at Rs111.76 overnight.

    On Wednesday, oil prices increased marginally despite bearish factors like unclear Chinese demand growth and falling gas costs, which were offset by bullish factors like declining crude stocks and a generally undersupplied market.

  • Pakistani rupee finally snaps 13-day winning streak versus US dollar

    Pakistani rupee finally snaps 13-day winning streak versus US dollar

    The Pakistani rupee (PKR) on Wednesday finally stopped rising against the US dollar after 13 sessions as it dropped by 0.04 per cent in the inter-bank market.

    It dropped nine paisas in today’s interbank market to settle at Rs217.88, depreciating by 0.04 per cent against the USD. During today’s open market session, the local currency was quoted at a day low of Rs217.65 against the US dollar.

    The recent increase in the value of the rupee is linked to a change in sentiment and the central bank’s operations against participants in currency speculation.

    On Wednesday, as traders prepared for US inflation data and its implications for future Federal Reserve rate hikes, the dollar reached new 24-year highs internationally.

    After the International Monetary Fund (IMF) predicted that Pakistan’s inflation rate will be 19.9 per cent in 2023 as opposed to 12.1 per cent in 2022, the rupee halted its 13-day winning run.

    The lender predicted Pakistan’s GDP growth rate would be 3.5 per cent in 2023 compared to 6 per cent in 2022, however this does not take the current floods into account.

    Wednesday also saw a global decline in oil prices for the third day in a straight as investors feared the impact of increasing COVID-19 regulations in China and mounting global economic threats on fuel demand.