Karachi:
The Pakistan Stock Exchange (PSX) showed volatile transactions during the outgoing week, with the KSE-100 index showing mixed trends before closing at 117,807, below 635 points or 0.5% weekly week (WOW).
The market started with a negative note due to increased rights for cement companies and the IMF’s International Monetary Fund (IMF) stance on the proposed pricing cuts. However, the feeling was improved after Pakistan’s staff agreement with the IMF based on the extended fund (EFF) facilitating, which will unlock the second dose of $ 1 billion.
In addition, a new 28 -month arrangement of $ 1.3 billion in the context of the resilience and sustainability unit (RSF) further enhanced confidence.
On a daily basis, the PSX got a deep dive on Monday after a Highs record last week, as the KSE-100 index fell 2,003 points, mainly due to institutional profit.
On Tuesday, the index showed signs of recovery, with investors predicting the resolution of the circular debt crisis in the energy sector. The KS-100 recorded 196 points.
The next day, the PSX saw a significant upward trend, where the index won 1,139 points, led by investor optimism after an IMF personnel agreement.
On Thursday, which was the last day of negotiation, the bourse was unable to expand the powerful rally of the previous day, as it faced a quiet transaction with the index almost flat. The KS-100 recorded a minute of 34 points and settled in 117,807.
Arif Habib Limited (AHL) wrote in the weekly review that the KSE-100 index had mixed trends throughout the week, starting with a negative note due to the proposed increase in rights for IMF cement and concerns about the proposed pricing.
However, the market has later recovered, led by the personnel agreement between Pakistan and the IMF for the first EFF review, facilitating the disbursement of the second installments of $ 1 billion. In addition, the IMF and Pakistan also signed a new 28 -month arrangement under the RSF, worth $ 1.3 billion, he said.
On the Economic Front, Pakistan’s GDP increased by 1.73% annually to 2qfy25, while GDP rise to 1hfy25 amounted to 1.54% compared to 2.33% to 1hfy24. Meanwhile, at the T-Bill auction, the SBP increased its 640 billion Rs, slightly below the target of 650 billion Rs, AHL said.
Domain, negative contributions to the market come from fertilizers (333 points), technology (280 degrees), cement (196 degrees), leather and tanneries (107 degrees) and textiles (54 points). Meanwhile, the areas that contributed positively were banks (488 points), Pharma (76 points), exploration and production (72 points) and tobacco (41 points).
The resumes, the negative contributions were Fauji Fertilizer Company (239 points), Systems Limited (198 points), service industries (107 degrees), Engro (106 degrees) fertilizers and cement (106 degrees).
Positive contributions came from UBL (462 points), Hubco (169 points), OGDC (115 points), Meezan Bank (112 points) and Pakistan tobacco (41 points).
Aliens’ markets continued during the week under consideration, which amounted to $ 3.92 million compared to net selling $ 7.96 million last week. Large markets have witnessed oil marketing companies ($ 4.2 million).
The average daily trading volumes reached 317 million shares (increased 38% WOW), while the average negotiable value was set to $ 87 million (increased 27%).
Among other big news, Mari’s actions started production by Shewa Discovery at the Waziristan Block, 1hfy25 immediate tax collection increased by 29%, Pakistan’s oil and OGDC discovered gas at Sindh’s Kirthar Block.
Topline Securities wrote in its monthly revision that the KSE-100 index increased by 4% on a monthly basis, which could be attributed to the IMF staff agreement, a circular debt resolution plan, where news flow showed significant progress and debate that the government was planning to reduce its power prices.
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