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PSX rallies as shares jump to all-time peak – SUCH TV
Share prices consolidated their gains at the Pakistan Stock Exchange (PSX) on Friday, with the benchmark index soaring to a new all-time high. Trading activity reflected renewed investor confidence, driven by economic stability and strategic diplomatic developments.
During intraday trading, the PSX’s KSE-100 Index climbed 652.76 points, or 0.41 percent, to reach 158,606 points, marking another record for the national bourse.
Out of 439 companies that transacted shares, 256 posted gains, 166 incurred losses, and 17 remained unchanged.
Analysts attributed the rally to Pakistan’s recently signed Strategic Mutual Defence Agreement (SMDA) with Saudi Arabia during Prime Minister Shehbaz Sharif’s visit to Riyadh.
The pact ensures that any aggression against either country will be treated as an attack on both, sending a positive signal of stability to the market.
The previous day, the KSE-100 Index had surged 1,775.65 points, a 1.14 percent rise, closing at 157,953.47 points.
Market activity remained robust, with 1,959,100,058 shares traded, valued at Rs56.93 billion, up from 1,499,302,473 shares worth Rs48.85 billion the day before.
Top trading volumes were led by Cnergyico PK with 213,091,825 shares at Rs8.41 each, followed by WorldCall Telecom with 141,834,094 shares at Rs1.78, and Fauji Foods Ltd with 101,805,720 shares at Rs21.51.
Supernet Technologies Limited recorded the highest increase, rising by Rs.89.54 to close at Rs984.93, followed by Nestle Pakistan Limited, which gained Rs75.78 to close at Rs8,425.78.
On the downside, Unilever Pakistan Foods Limited lost Rs.160.72, closing at Rs.32,439.26, while Rafhan Maize Products Company Limited declined by Rs115.57 to close at Rs9,583.98.
In the futures market, 358,784,000 shares were traded, valued at Rs.12.71 billion, compared to 270,465,500 shares worth Rs.12.44 billion the previous day.
Among 319 companies, 246 advanced, 71 declined, and 2 remained unchanged.
Leading futures turnover included KOSM-SEP with 44,666,500 shares at Rs.8.01, CNERGY-SEP with 29,877,500 shares at Rs.8.45, and FFL-SEP with 29,203,500 shares at Rs.21.63.
GHNI-OCT recorded the highest gain, rising by Rs.15.44 to Rs.868.00, while GAL-OCT declined by Rs.14.00 to Rs.585.00.
Malaysia-based Karex produces more than five billion condoms a year and supplies global brands like Durex and Trojan.
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Tesco Pet Insurance, who provided the cover, says “the cost of claims is one of a number of factors that can affect the price of a policy at renewal” and also noted Tilly’s age had been reflected in the quote. It says the couple had a more comprehensive policy, which typically costs more than basic levels of cover, and that alternative options were presented to Fawcett and Neild.
The UK must not “cut ourselves off” from trade opportunities in China despite security and business risks, the head of the Confederation for British Industry has warned.
CBI chief Rain Newton-Smith highlighted that British businesses see increased trade with Chinese firms as an opportunity to drive growth.
Her remarks came as business leaders were questioned by MPs on Parliament’s Business and Trade Select Committee regarding the UK’s economic relationship with China.
Last December, Prime Minister Sir Keir Starmer admitted China poses security threats to the UK but urged for greater business ties.
Ms Newton-Smith, chief executive of one of the UK’s largest business groups, was positive about the Government’s engagement with China.
“You can’t have a growth strategy without a strategy for China,” she said.
“China has the biggest contribution to global growth, is the third largest trading partner, and the world’s largest consumer market.
“The UK is second largest exporter of trade and services.
“We are mindful as all businesses are of security risks but it is really important that we have a strategy towards China.
“This Government has increased the economic engagement with China and including business within this does help us as a country.”
She added: “If we think about the future economy, there is a huge market in China and I think we mustn’t cut ourselves off from some of the opportunities there, even if in some areas there are difficult conversations and negotiations that need to be had.”
Peter Burnett, chief executive of the China-Britain Business Council, told the committee: “There are risks associated with technology advancement, AI, industrial development that they need to assess.
“Increasingly you will find them saying that they need to engage more in China to understand those risks and to develop some of the technologies along some of those risks themselves.”
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