Friday, April 18 2025

Record March surplus fuels rally on PSX
Despite overnight concerns regarding a contraction in Large-Scale Manufacturing and decreasing foreign exchange reserves, the Pakistan Stock Exchange (PSX) experienced renewed buying interest from equity investors on Thursday. This boost in confidence was driven by a record current account surplus and a series of positive developments, enhancing the overall economic outlook. Ahsan Mehanti of Arif Habib Corporation said the market showed a sharp recovery amid a $1.2bn record current account surplus in March and a first-ever two-year extension in an oil credit facility from Kuwait, which would ease rupee instability and attract foreign inflows. He added that the rating upgrade from Fitch, surging Asian equities and crude oil prices, record remittances and low inflation were other key factors that contributed to the bullish close at the PSX.
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Govt to seek fresh bids for PIA next week: privatisation ministry
The government will publish an advertisement next week to attract new bidders for the privatisation of Pakistan International Airlines (PIA), the privatisation ministry said in a statement on Wednesday. The government’s failed first attempt to privatise PIA cost the national exchequer $4.3 million, the National Assembly Standing Committee on Privatisation was informed on February 26. Last month, Privatisation and Investment Minister Abdul Aleem Khan said that the government would complete all the steps to privatise PIA by May, while the pri­vatisation commission approved a transaction structure for the second attempt to privatise the national carrier based on a divestment of 51 to 100 per cent of its shares of capital.
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Related symbols: PIAHCLA (news stock)

Fresh expressions of interest for PIA
The Pakistani government will seek expressions of interest (EoIs) next week for the sale of Pakistan International Airlines, the privatisation ministry said on Thursday, days after it reported its first annual profit in over two decades. Pakistan has been seeking to sell a 51-100 per cent stake in the debt-ridden carrier, to raise funds and reform cash-draining, state-owned enterprises as envisaged under a $7 billion International Monetary Fund programme. Its failed attempt to privatise Pakistan International Airlines last year received a single offer, well below the asking price of more than $300 million. The privatisation commission board has approved seeking new bids, the ministry said in a statement.
Related news categories: business economic-indicators psx stock-exchanges transport
Related symbols: PIAHCLA (news stock)

Thursday, April 17 2025

Index loses 755 points on LSM contraction
The continued contraction in big industry output shattered investor confidence, causing the Pakistan Stock Exchange (PSX) to snap its northward journey on Wednesday despite an overnight rating upgrade by Fitch. Ahsan Mehanti of Arif Habib Corporation said the PSX closed sharply lower in the earning season amid a 3.5pc year-on-year contraction in Large-Scale Manufacturing in February and investor fears over the outcome of the US-China trade tariff. Rupee instability and dismal cement sales for March also dampened inv­e­stor sentiments, leading to a bearish close at PSX. Topline Securities Ltd said the local bourse witnessed a hot and cold session, reflecting a mix of optimism and caution among investors. The market opened on a strong footing, gaining as much as 648 points in early trade. However, the momentum fizzled out in the second half as profit-taking took centre stage.
Related news categories: business economic-indicators psx stock-exchanges

Wednesday, April 16 2025

PSX rallies 1,537 points on record remittances
Record remittances in March prompted a significant rally at the Pakistan Stock Exchange (PSX) on Monday. This bullish performance came after a sharp decline on Friday, which was caused by retaliatory tariffs imposed by China on US goods, resulting in renewed volatility in global markets. Topline Securities Ltd said the bulls stood firm as the benchmark KSE 100 index posted a robust intraday gain of 1,640 points, ultimately settling at 116,390.04—up by 1,536.71 points or 1.34 per cent day-on-day. The upbeat momentum was driven mainly by better-than-expected inward remittance figures, which significantly bolstered investor sentiment. Further support came from a broadly positive trend across regional markets, encouraging local investors to re-enter and build fresh positions across key sectors. Much of the positive momentum was driven by notable gains in heavyweight stocks. United Bank Ltd, Lucky Cement, Hub Power, Engro Holdings, and Engro Fertiliser collectively contributed 1,178 points to the index.
Related news categories: business economic-indicators psx stock-exchanges