The stock market extended its upward sequence on Thursday, driven by solid reports on the profits from the cement sectors, banks and pharmaceutical products.
Investors’ confidence has been strengthened because these sectors have experienced an important purchasing activity, while others have remained linked to the beach.
The KSE-100 KSE-100 KSE-100 index of Pakistan Pakistan Pakistan (PSX) won 396.72 points, or 0.35%, to end at 113,739.15 points.
Reflecting renewed optimism, the capital market reached an intrajournual summit of 114 202.13 before taking the profits reduced it to a minimum session of 113,525.89 points.
Ahfaz Mustafa, CEO of Ismail IQBAL SECURITIES, awarded market gains to solid results from companies, claiming: “The market is negotiated on stellar results by cement, bank and pharmaceutical companies.”
He added that “large volumes are observed in these companies that have led the index, while the other sectors are linked to the beach.”
On Wednesday, during the last bill of the Bill of the market cash (T-Bill), the government raised Rs259 billion, going down the target of 350 billion rupees. The auction also did not comply with the amount of the deadline of 371 billion rupees, indicating the liquidity constraints and the prudent feeling of investors before the next IMF exam (International Monetary Fund).
The yields increased in all tenors, with the three -month T yield increasing by three basic points (BPS) to 11.83%, the six -month yield increasing by 17 BPS to 11.67% and the climbing of yield of 12 months of 6 BPS to 11.65%.
Market analysts believe that the increase in billiards yields in T suggests concerns of investors concerning inflation and expectations of interest rates. The increase in yields occurs despite a drop in inflation, as investors remain vigilant of Pakistan’s economic prospects and future decisions in monetary policy.
The feeling of investors received a boost from Habib Bank Limited (HBL) and United Bank Limited (UBL), which declared solid financial results for the fourth quarter of the CY24.
HBL displayed a consolidated profit after tax (PAT) of RS14.6 billion (EPS: RS9.8), against 15.9 billion rupees (BPA: RS10.1) during the same period last year.
The net interest net income of the bank (NII) amounted to 60.3 billion rupees, reflecting a drop of 6% in annual sliding (yoy) and 5% quarterly (qoq) due to the drop in yields ‘assets. However, non -Markup revenues jumped 76% in annual shift and 69% QOQ, fired by solid incomes for costs and earnings on titles.
UBL reported even more impressive results, announcing a consolidated pat of 26 billion rupees (EPS: RS21.3), double of Rs13.5 billion a year ago.
The Bank’s NII jumped 84% in annual shift and 32% QOQ to RS68.2 billion, benefiting from a solid investment portfolio and an increase in loan volumes. Non Markup revenues also increased by 158% in annual sliding and 64% QOQ, mainly due to high earnings on securities, although expense income has decreased by 39% QOQ.
The stellar performance of the banking sector has strengthened the confidence of investors. This optimism has contributed to the increase in purchase interest in financial actions, which further increases the global feeling of the market.
The PSX closed in positive territory on Wednesday, continuing its rally focused on profits. The KSE-100 Benchmark index won 253.96 points, or 0.22%, ending at 113,342.44, against 113,088.48 points during the previous session.
The market affected an intraday summit of 114,029.76, reflecting the continuous interest of investors in certain sectors, while the lowest level recorded was 113,060.26.