Karachi, September 30, 2024 – The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index experienced a decline on Monday, shedding 178 points as energy-related stocks led the market lower. The index closed at 81,114 points, down from Friday’s closing of 81,292 points, reflecting a 0.22% decrease.
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KSE-100 Index Shatters Records, Hits 82,074 Points Peak
Karachi, September 20, 2024 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) continued its bullish momentum and soared to a record high of 82,074 points, marking a significant milestone for Pakistan’s equity market.
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Pakistan Stock Market Hits New Record High at 67,756 Points
Karachi, April 3, 2024 – The Pakistan stock market soared to new heights on Wednesday, reaching a historic high level of 67,756 points, driven by improved sentiments among foreign investors.
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Pakistan Stock Market Ends Down by 209 Points to Start April
Karachi, April 1, 2024 – The Pakistan stock market witnessed a downtrend on Monday, the first day of April 2024, as the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed down by 209 points in a mixed trading session.
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Pakistan Retains Secondary Emerging Market Status in FTSE
Islamabad, March 28, 2024 – The position of Pakistan as a secondary emerging market has been retained by the Financial Times Stock Exchange (FTSE) Russell, a globally recognized index provider.
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Pakistan Stock Market Gains 587 Points Amid Volatility
Karachi, February 19, 2024 – The Pakistan stock market witnessed a significant upswing on Monday, gaining 587 points amid ongoing volatility in the political landscape.
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Pakistan equities surge as investors anticipate substantial bonuses
Karachi, May 29, 2023: Pakistan’s equities experienced a significant gain of 376 points on Monday as investors anticipated substantial bonuses from listed companies, aimed at minimizing tax liabilities.
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Finance ministry urges careful media reporting over ebb
ISLAMABAD: The ministry of finance on Tuesday urged the media for careful reporting over the ebb and flows of Pakistan Stock Exchange (PSX).
“Yesterday as being unfortunate as such reports highlighting sharp volatility in the market damage the interest of the small investors and create uncertainty in the market,” a statement said.
“The role of the media in reporting the ebb and flow in the market needs to be carefully analyzed particularly in the wake of rumors spread by a section of the media regarding alleged changes in the government’s economic team which sent wrong signal to the market and damaged the interest of small investors and hurt overall sentiment in the market,” says it added.
The Ministry of Finance has noted that it is natural for the market to see a correction after rising sharply by over 50 percent.
“Yesterday, the market fell 846 points. Today the market gained 417 points. These ebbs and flows of the market are driven by sentiments, whereas the fundamentals remain strong and continue to improve.”
The Ministry of Finance also pointed out that after rising by 50 percent from August 2019 to January 2020, the KSE 100 index had already been named as the top performing market in the world by Bloomberg in December 2019.
The improved investor confidence was based on corrective measures taken by the government to reduce the twin deficits.
These measures were also strongly endorsed by Moody’s Investor Services in December 2019 with an upgrade in outlook to ‘stable’ from ‘negative’.
Foreign portfolio investment in the stock market during the first 6 months of the current fiscal year has also stood at US$ 18.8 million after 4 years of heavy selling by foreign investors.
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Stock market gains 589 points on successful IMF deal expectations
KARACHI: The stock market gained 589 points on Wednesday on positive expectations of IMF deal conclusion.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,897 points as against 34,307 points showing an increase of 589 points.
Analysts at Arif Habib Limited said that KSE-100 index increased again by around 631 points during the session that was contributed mainly by Fertilizer and Banking sectors and was further supplemented by Cement sector.
Positive expectation of IMF deal conclusion today kept the sentiment elevated and helped the investors take bets on O&GMCs, Cement, Banks and Fertilizer. Cement sector dominated the volumes for better part of the day, however, Chemicals took over the ranking in the closing hour, where LOTCHEM generated most volume (11.6 million) followed by TRG (8 million).
KSEAll shares volume also improved over the day.
Sectors contributing to the performance include Fertilizer (+140 points), Banks (+135 points), E&P (+81ps), Cement (+75 points), O&GMCs (+48 points).
Volumes increased from 91 million shares to 130.3 million shares (+43 percent DoD). Average traded value also increased by 58 percent to reach US$ 30.5 million as against US$ 19.3 million.
Stocks that contributed significantly to the volumes include LOTCHEM, TRG, UNITY, BOP and MLCF, which formed 29 percent of total volumes.
Stocks that contributed positively include FFC (+69 points), PPL (+48 points), HBL (+45 points), OGDC (+41 points) and MCB (+37 points). Stocks that contributed negatively include POL (-7 points), HMB (-4 points), ICI (-3 points), SYS (-3 points) and KEL (-2 points).