KARACHI: The Pakistan Stock Exchange (PSX) remained positive during the week ending April 4, 2025, supported by encouraging developments on the economic front
The benchmark KSE-100 Index gained 984 points, or 0.84 percent, on a weekly basis, closing at 118,791 points compared to 117,807 points at the end of the previous week. The outgoing week had only two trading sessions due to Eid holidays. On the first trading day, the market closed at an all-time high, while on the second day, some correction was observed, and the market ended on a negative note.
The average daily trading volume on the ready counter stood at 488 million shares. Meanwhile, the total market capitalization surged by Rs 102 billion, closing at Rs 14.476 trillion, up from Rs 14.374 trillion a week earlier.
During the last week, BRIndex100 gained 204.35 points during the last week to close at 12,817 points up from 12,613.14 points with average daily turnover of 406 million shares. However, BRIndex30 declined by 477.88 points on a week-on-week basis to settle at 38,842 points with average daily trading volumes of 257.7 million shares.
According to AHL Research the two-day trading week following the Eid-ul-Fitr holidays commenced on a positive note, with the KSE-100 index reaching an all-time intraday high of 120,797 points on Friday.
The market’s upward momentum was fuelled by the Prime Minister’s announcement of significant power tariff reductions of PKR 7.4/unit for consumers and PKR 7.59/unit for industries. This positive development was overshadowed, to some extent, concerns over the imposition of a 29% tariff on Pakistani exports by the USA.
On the economic front, inflationary pressures continued to ease, CPI for Mar’25 dropping to 0.7 percent-the lowest level in nearly six decades. Meanwhile, Pakistan’s trade deficit showed signs of improvement, narrowing to $ 2.1 billion in Mar’25 from $ 2.3 billion in SPLY, further supporting market sentiment.
The SBP reserves improved to $10.7 billion, up by $ 70 million WoW. The market closed at level of 118,791 points, depicting an increase of 984 points or 0.8 percent WoW.
Sector-wise positive contributions came from Banks (1791pts), Cement (86pts), Fertilizer (49pts), Tobacco (30pts), and Real estate investment trust (19pts). Meanwhile, the sectors that contributed negatively were E&Ps (410pts), Power (103pts), OMCs (88pts), Leather & Tanneries (81pts), and Cable & electrical goods (45pts).
Scrip-wise positive contributors were UBL (1149pts), MEBL (265pts), MCB (123pts), HBL (105pts), and BAHL (51pts). Whereas, scrip-wise negative contributions came from HUBC (128pts), OGDC (127pts), PPL (122pts), and POL (87pts).
Foreigner buying continued during this week clocked in at $7.38 million compared to a net buy of $ 3.92 million last week. Major buying was witnessed in Banks ($5.45mn) followed by All other sectors ($ 0.71mn). On the local front, selling was reported by Insurance companies ($8.82mn) and Mutual Funds (USD 6.54mn). Average volumes arrived at 488mn shares (up 54% WoW), while the average value traded settled at $113.6 million, up 30 percent WoW.
Other major news were: OGDCL, Mari make new discoveries, Energy sector circular debt reaches Rs4,700 billion, Bank deposits decrease by nearly 2 percent to Rs30 trillion in Feb, Coal imports hit three-year low, BankIslami launches Pakistan’s first-ever instant cheque encashment service and LOTCHEM to suspend operations for inventory management.
According to Topline Securities, KSE 100 Index gained 0.84 percent on WoW basis, which can be accredited to cut in electricity tariffs by government to support consumers and industries to governments.
Apart from it following provided stimulus to market CPI for March 2025 coming in at 0.7 percent (lowest monthly YoY reading in over three decades) and Pakistan’s trade deficit for March 2025 clocking in at $2.119 billion (declined by 8 percent MoM). Average daily value during the week stood Rs.31.85 billion respectively.
Copyright Business Recorder, 2025
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