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Investors are sitting in the hall of Pakistan Stock Exchange in Karachi. — AFP/File
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KARACHI: Stock on Monday increased by about 3.3 percent on Monday during the crash in the World Equity Markets, as the US tariff war raised concerns over global recession. The Pakistan Stock Exchange stopped trade for a short term, while the index witnessed the most intra -dehydration in one day. The market closed with a loss of about Rs 4474.225 billion.
Trading was temporarily stopped after the initial 5.0 % reduction in the KSE 30. The dramatic sales were primarily fueling China’s retaliation against the United States, intensifying potential global recession concerns. Analysts said the increase in trade tensions sent shock waves through emerging markets.
The SE -100 index of the Pakistan Stock Exchange (PSX) benchmark decreased by 118,791.66 points in the last session to 114,909.49 points, 3,882.17 points, or 3.27 percent. The highest index of the day was 117.601.62 points, while the lowest level was recorded at 110,103.98 points.
Topline Securities CEO Mohammad Sohail said that after the global market crash, the Pakistan market has declined 3.3 percent, which led to the tariff war launched by the United States and then responded by other countries. After a cooling period when it fell 5.0 % of trading and saw some price after stopping and buying some price
“At this sector level, the oil and gas exploration sector, technology and textile sector are expected to be affected because they are either associated with global commodity prices (such as crude oil) or are associated with global demand,” he said. In addition, inflation may decrease, between low oil prices, and can help reduce interest rates, which in turn can also increase banks’ low income. “
He said that by macro, the reduction of oil prices every $ 10/barrel saving the import bill saves $ 2 billion crude oil, better oil (petrol diesel), and $ 2 billion for RLNG imports. “Textile exports to the United States will save $ 1-1.5 billion in the import bill, assuming a 5-10 percent decline (which is $ 250-500 million).” The KSE -30 index decreased by 1,237.49 points or 3.36 percent, 35,541.31 points against 36,778.81 points.
Shares of trade increased by 157 million shares to 710.788 million shares by 553.668 million shares. The commercial value increases from Rs 43.023 billion to Rs 35.492 billion. Market Capital is limited to Rs 14.001 trillion compared to Rs 14.001 trillion. Of the 450 companies operating in the session, 52 closed in green, 357 red and 41 changed.
JS Global Analyst Mohammad Hassan Athar said that the KSE -100 Index suffered a shortage of its worst day in history, which closed at 8,688 points (7.3 percent) among the global market riots, which is priced at 3.3 percent.
“In search of ahead, the market fluctuations are expected to continue until the US is likely to be clear on China’s trade situation, investors are advised to be cautious in the short term,” he said. Philip Morris (Pakistan) Limited recorded the highest increase, which increased by Rs 98.20 to Rs 1,080.18 per share, after which the Tal Industries Corporation Limited, which increased to Rs 24.28 to Rs 374.28. A significant reduction was noted in Bata Pakistan Limited, which was reduced by Rs 157.05 to Rs 1,528.76 per share. Nestlé Pakistan Limited followed it, which was reduced from Rs 149.98 to Rs 7,200.02 per share.
Arif Habib Corporation analyst, Ahsan Mahani, said, “After Trump, no sign of global equality has been shown to withdraw from global equality plans, no sign of global recession is shown.” He said more than 29 % of US bilateral tariff Levies, LSM contraction and falling rupee played a vital role in the nearby record downturn in PSX.
However, the late session’s retreat observed to discuss US prices on the government’s expectations, the Prime Minister on March 25, cutting and stimulating industrial electricity prices, was 0.7 percent YOY, which is likely to further reduce the SBP policy next month. World Calle Telecom remained a volume leader with 55.274 million shares, which closed to Rs 1.28 per share, less than 7 bucks. With 53.401 million shares, Sarnarjico PKK followed it, which closed at Rs 7.83 per share to less than 46 bucks.
The stock of other important businesses include Bo Punjab XD, Pak Electron, Maple Leaf, Pak Interte. Bulk, K Electric Limited, Sui South Gas, Military Cement and Pure Refinery. In the futures market, 316 companies recorded trade, of which 16 increased and 300 declined.
