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PSX ends losing streak, gains nearly 500 points | The Express Tribune
Foreign funds would divert their liquidity into buying Pakistan’s stocks. This would merely increases prices of shares and be profitable for those who already hold stocks. PHOTO: FILE
KARACHI:
The Pakistan Stock Exchange (PSX) turned positive on Friday after three consecutive days of losses as the benchmark KSE-100 index rose nearly 500 points, driven by remittance data released by the State Bank of Pakistan.
In October 2025, the remittances from expatriate Pakistani workers abroad reached $3.4 billion, higher by 7.4% month-on-month (MoM) and 11.9% year-on-year (YoY).
At the commencement of trading in the morning, the stock market remained positive and after a couple of dips, it rose significantly by midday. Following the Friday break, the index advanced to the intra-day high of 160,436 points. Afterwards, investors resorted to profit-taking at higher levels, bringing the market down from highs.
At close, the KSE-100 index recorded a modest increase of 496.11 points, or 0.31%, and settled at 159,592.90.
Topline Securities, in its market review, said that after a few consecutive negative trading sessions, some recovery was observed on Friday as the KSE-100 index largely traded in the positive zone. It closed at 159,593 points, up 0.31%.
“This positivity can be attributed to remittance numbers for October 2025, which came in at $3.42 billion, up 12% YoY and 7% MoM,” it said.
Top positive contribution to the index came from Mari Energies, UBL, Meezan Bank, Pakistan Petroleum, NBP and MCB Bank as they cumulatively contributed 474 points.
Traded value-wise, Attock Refinery (Rs1.86 billion), Mari Energies (Rs1.57 billion), NBP (Rs1.4 billion), Hubco (Rs1.25 billion) and The Bank of Punjab (Rs819 million) dominated the activity. Traded volume and value for the day stood at 769 million shares and Rs30.7 billion, respectively, Topline added.
Overall industry dispatches in FY25 remained largely flat at 38 million tons as weaker demand in the south offset stable volumes in the north, AHL said.
Overall trading volumes at the PSX decreased to 768.8 million shares compared with the previous tally of 957.3 million. The traded value of shares stood at Rs30.7 billion.
Shares of 479 companies were traded on the ready market, out of which 228 closed higher, 203 declined and 48 remained unchanged.
First National Equities led the volumes chart with trading in 85.9 million shares, losing Rs1.04 to close at Rs19.29. It was followed by Bank Makramah with 78.1 million shares, rising Rs0.11 to close at Rs5.61 and Pace Pakistan with 47.5 million shares, gaining Rs0.72 to close at Rs29.11. Foreign investors were sellers of shares worth Rs594.5 million, according to the NCCPL.