Friday, March 21 2025

Index hits record high on economic optimism
The stock market continued its record-setting streak for the second consecutive session on Thursday, pushing the benchmark KSE 100 index above 118,000. Topline Securities Ltd said the stock market continued its bullish momentum, reaching record-high levels with a record-high trading value in nearly two months. The benchmark index surged to an intraday high of 1,447 at 119,421.81 points before settling at 118,769.77, a rise of 795 points or 0.67pc day-on-day. This strong upward movement was primarily driven by aggressive buying from local mutual funds, as investor confidence remained high on expectations of an imminent IMF review, which might be completed earlier than expected. Mari Energies stole the spotlight, recording a staggering Rs7.17 billion in traded value, as investors speculated on a potential announcement in its emergent board meeting scheduled for Friday.
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Wednesday, March 19 2025

Bulls stage 801-point rally on IMF optimism
The Pakistan Stock Exchange (PSX) extended its bullish spell to a fourth straight session on Tuesday, helping the benchmark KSE 100 index breach another barrier of 117,000 thanks to optimism related to the IMF’s positive review of the economy. Topline Securities Ltd said the bulls dominated the session, propelling the benchmark index to an intraday high of 1,002 points before settling at 117,001, up 801 points or 0.69 per cent day-on-day. The positive sentiment was primarily driven by encouraging economic developments. According to news reports, the IMF has permitted Pakistan to borrow Rs1.25tr ($4.5bn) from domestic banks to help manage the Rs2.4tr circular debt in the power sector without increasing public debt.
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Pri­vatisation Commission approves second attempt to divest PIA
The Pri­vatisation Commission on Tuesday recommended to the Cabinet Committee on Privatisation transaction structure for the second attempt of Pakistan Inter­­national Airlines Company Ltd (PIACL) based on divestment of 51 to 100 per cent shares capital of the national flag carrier. The proposed divestment will be together with the management control of the airline as well. The final terms and conditions for the transfer and acquisition of equity stake will be finalised during the course of bidding process and set out in the bid documents for approval by the Cabinet Committee on Privatisation. The approval of PIACL transaction structure was given at a meeting of Privatisation Commi­ssion Board, chaired by newly appointed Adviser to the Prime Minister on Pri­va­tisation Muhammad Ali.
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Related symbols: PIAHCLA (news stock)

Tuesday, March 18 2025

Shares at PSX rally over 600 points on hopes of IMF staff-level agreement soon
Bulls maintained a hold of the trade floor at the Pakistan Stock Exchange (PSX) on Monday as shares gained over 600 points on expectations of a smooth International Monetary Fund (IMF) staff-level agreement (SLA). The benchmark KSE-100 climbed 1,027.32, or 0.89 per cent, to stand at 116,563.48 points from the last close of 115,536.16 at 1:01pm. Finally, the index closed at 116,199.59, up by 663.43 points or 0.57pc, from the previous close. Mohammed Sohail, chief executive of Topline Securities, observed that despite the SLA delay, the market “remained positive amid hope of resolution of old circular debt through banks funding”. According to a report by Arif Habib Limited, the government made major strides in resolving the power sector’s circular debt of Rs1.5tr.
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OGDCL, Mari make new discoveries
The two state-owned entities — Oil and Gas Development Company Ltd (OGDCL) and Mari Energies Ltd (MEL) — on Monday announced separate oil and gas discoveries in Punjab and Khyber Pakhtunkhwa, respectively. In a statement, OGDCL, the country’s largest exploration and production company, announced a significant gas and condensate discovery at its Soghri North-1 well in the Soghri Block, located in the Attock district of Punjab. OGDCL is the sole owner of the Soghri Exploration Licence, with a 100pc working interest. The company said that Soghri North-1 well was spudded on May 21, 2024 and drilled to 4,942 metres in the Patala Formation. The well underwent extensive testing. Based on wireline log interpretation, cased hole drill stem testing was conducted in the Chorgali-Sakesar-Nammal-Patala Formations.
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Related symbols: mari (news stock) ogdc (news stock)