Skip to main content

2025 was second best Ramazan for PSX returns since 2015, says firm

A brokerage firm, in its note, confirmed that 2025 was the second-best Ramazan for the Pakistan Stock Exchange (PSX) returns since 2015.

Arif Habib Limited highlighted that the benchmark KSE-100 index recorded a 5.2 per cent return during Ramazan in 2025.

The bull run during the month was majorly attributed to the staff-level agreement (SLA) with the International Monetary Fund (IMF), in addition to the government’s circular debt resolution plan, where media reports suggested that significant progress had been made and the government was working to reduce electricity prices.

The market rebounded, mainly driven by the SLA reached following the first review under the $7 billion Extended Fund Facility, paving the way for releasing the second tranche of $1.1bn. A new 28-month $1.3bn arrangement under the Resilience and Sustainability Facility (RSF) was also reached.

Pakistan’s GDP grew by 1.73 per cent year-on-year in 2QFY25, while GDP growth for 1HFY25 stood at 1.54pc compared to 2.33pc in 1HFY24.

Meanwhile, the government raised Rs640bn, slightly below the T-bill auction target of Rs650bn.

It stated that 2024 saw the “strongest performance, with the KSE-100 delivering an impressive 6.9pc return” and added that the average return during the month was 1.3pc.

According to Topline Securities, major developments during Ramazan for the stock market included: low inflation reading for the month of February, unchanged monetary policy, and remittances clocking in $3.1 billion — up by 39pc.

The PSX posted a positive performance in March and Ramazan. The index, which reached an intra-month high of 119,422 after opening at 113,499, fell to an intra-month low of 111,717. However, by the end of the month, it managed to close at 117,807, marking an increase of 4,555 points, or 4.02pc. The index depicted a decline of 635 points or 0.5pc week-on-week.

Topline Securities also noted that car sales for Feb 2025 were at 12,084 units (up 24pc year-on-year while down 29pc month-on-month), adding that the current account recorded a $12 million deficit for the month, while the current account for 8MFY25 remained at a surplus of $691m.

“Average daily traded volume and value for the day stood at 366mn shares and PKR.24bn respectively,” It said.



from The Dawn News - Home https://ift.tt/Py68Jqp
Labels:

Comments

Post a Comment

Popular posts from this blog

Ministers rubbish notion that proposed retirement age extension to favour ‘one particular institution’

Information Minister Attaullah Tarar on Tuesday rubbished the notion that a proposed extension in the retirement age was to favour “one particular institution”, adding that the move would be implemented across the board if approved. The rebuttal comes in the wake of media reports claiming that the government was mulling changes to the Constitution to fix the tenure of the chief justice . Currently, judges of the Supreme Court, including the chief justice, retire after attaining the age of superannuation, i.e. 65 years, as stipulated in Article 179 of the Constitution. While giving his opinion recently on the reports of the constitutional amendment, Law Minister Azam Nazeer Tarar had said he “will not vehemently turn down the proposals related to the tenure of the chief justice”. Addressing the issue during a press conference in Islamabad today along since Finance Minister Muhammad Aurangzeb and the law minister, Attaullah said the extension in the retirement age was “a proposal to a...
Post a Comment
Read more

The Republican primary race for president in 2024

The Republican primary race for president in 2024 is already shaping up to be a competitive one. There are a number of high-profile candidates who have already announced their intention to run, and more are expected to join the field in the coming months. The frontrunner for the nomination is former President Donald Trump. Trump has been teasing a 2024 run for months, and he has a large and loyal following among Republican voters. However, he is also a polarizing figure, and his candidacy could alienate some moderate Republicans. Another potential contender for the nomination is Florida Governor Ron DeSantis. DeSantis has been praised by many conservatives for his handling of the COVID-19 pandemic and his opposition to vaccine mandates. He is also seen as a rising star in the Republican Party. Other potential candidates include former Vice President Mike Pence, former Ambassador Nikki Haley, and Senator Tim Scott. Pence is a more traditional Republican who could appeal to moderate vote...
1 comment
Read more

In pictures: Grief in Gaza and the loss of a child

In the photo, the woman cradles a child in her arms, balanced on her knee. It is an image that resonates, as ancient as human history. But in a grim inversion of the familiar, we see that the child she holds close is a corpse, wrapped in a shroud. It is a quiet moment of intense grief. The woman wears a headscarf and her head is bowed. We cannot see who she is nor can we learn anything about the child — not even if it is a boy or girl. Palestinian woman Inas Abu Maamar, 36, embraces the body of her 5-year-old niece Saly, who was killed in an Israeli strike, at Nasser hospital in Khan Younis in the southern Gaza Strip, October 17, 2023. The child is one of many who have lost their lives on both sides in the Israel-Hamas war. Most have names we will never know, whose deaths will spark a lifetime of grief for family members we will never meet. In the 21st century, an average of almost 20 children a day have been killed or maimed in wars around the world, according to Unicef. Reuter...
Post a Comment
Read more