Thursday, March 27 2025

Shares at PSX surge 1,100 points after IMF agreement
Bulls dominated the trade floor on Wednesday as shares at the Pakistan Stock Exchange (PSX) surged more than 1,100 points after a successful review of the International Monetary Fund (IMF) bailout programme. The benchmark KSE-100 index climbed 1,390.46 points, or 1.19 per cent to stand at 118,023.62 from the previous close of 116,633.16 at 9:22am. Finally, the index closed at 117,772.31, up by 1,139.15 or 0.98pc, from the last close. Topline Securities, a brokerage firm in Karachi, noted market gains were primarily driven by UBL, OGDC, PPL, MEBL, and MARI, which contributed 883 points to the index. “A total of 355m shares were traded, with a turnover of Rs 37bn,” it said, adding that PAEL led the volume chart, with 29m shares exchanged. Sana Tawfik, head of research at Arif Habib Limited, stated that the “major trigger” behind the bull run was the federal government reaching a deal with the IMF for a new $1.3 billion arrangement, along with the first review of the ongoing 37-month bailout programme.
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Wednesday, March 26 2025

PSX stages mild recovery after meltdown
After rece­iving a massive battering overnight, the Pakistan Sto­­ck Exchange (PSX) witnessed another highly volatile session on Tuesday but managed modest gains on selective value-hunting amid sharply lower volume. Topline Securities Ltd said the PSX experienced a volatile session attempting to recover from Monday’s sharp sell-off. The index initially strengthened, cli­mbing 464 points at its in­­traday high as buying act­ivity resurfaced. However, the momentum was short-lived, with profit-taking pushing the index to an intraday low of 561 points. Despite the turbulence, the market regained some ground, closing at 116,633.17, up 193.55 poi­nts or 0.17 per cent day-on-day. This volatility can be attributed to the lack of clarity regarding the IMF review and the Staff-Level Agreement, which has kept investor sentiment cautious. Oil and Gas Develop­ment Company, Hub Power, PSO, Meezan Bank, and Sui Nor­thern Gas Pipeline largely supported the positive mo­­mentum, which collectively added 394 points to the index. Conversely, Systems Ltd, TRG Pakis­t­­an, and United Bank weig­hed on sentiment, wiping out 153 points from the gains.
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Tuesday, March 25 2025

Shares at PSX reverse gains, plunge 2,000 points on IMF concerns
Shares at the Pakistan Stock Exchange (PSX) reversed major gains on Monday as the KSE-100 index shed more than 2,000 points on International Monetary Fund (IMF) concerns over electricity tariffs. The benchmark KSE-100 index shed 2,002.55 points, or 1.69 per cent, to stand 116,439.62 from the last close of 118,442.17 points. Topline Securities, a brokerage firm in Karachi, noted that the market faced downward pressure due to IMF “concerns over the lack of adjustments to electricity tariffs and no reduction in property taxes, as reported in the news”. Earlier, it was widely reported in the media through official leaks that the prime minister would announce a Rs8 per unit reduction in electricity rates in his speech to the nation on March 23. The prime minister, however, did not announce any such relief package in his Pakistan Day speech.
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Stocks slump on profit-taking
Pakistan Stock Exchange (PSX) on Monday took a deep dive after hitting record highs last week as the KSE-100 index plunged over 2,000 points primarily due to institutional profit-taking across various sectors. Market jitters were compounded by reports of the International Monetary Fund's (IMF) disapproval of policy changes including a reduction in property transaction rates, lowering March 2025 tax target and slashing industrial power tariffs, which weighed heavily on investor sentiment. Additionally, the negative impact of rising Karachi Inter-bank Offered Rate (Kibor) and an increase in royalty on cement manufacturers in Khyber-Pakhtunkhwa (K-P) further contributed to the market's downturn.
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Monday, March 24 2025

Equities resume record-setting spree in robust week
A positive review of the economy by the International Monetary Fund (IMF) and progress on the resolution of energy sector circular debt kept equity investors bullish, driving the benchmark KSE 100 index to scale an all-time high near 119,000 in the outgoing week. The Pakistan Stock Exchange (PSX) continued its northward journey for the sixth week. The index, which reached an intra-week all-time high of 119,406 after opening at 115,958, fell to an intra-week low of 115,883. Ultimately, it closed at 118,442.18, adding 2,906 points or 2.52 per cent week-on-week. Arif Habib Ltd (AHL) said the market sentiment was supported by expectations of a Staff-Level Agreement (SLA) between Pakistan and IMF following the conclusion of the first review under the $7 billion Extended Fund Facility, which will be a road to disbursement of the second tranche of $1.1bn.
Related news categories: business economic-indicators psx stock-exchanges