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Market watch: KSE-100 rises 109 points in range bound session
Benchmark index gains 0.25% to settle at 43,360.19
Shares of 403 companies were traded. At the end of the day, 171 stocks closed higher. PHOTO: REUTERS
KARACHI:
Pakistan’s stock market saw muted activity on Wednesday as the KSE-100 index traded in a narrow range throughout the day and closed up by 109 points.
Though the selling pressure that emerged in final hours of trading a day ago seemed to be easing, still a handful of sectors closed with losses. Many stocks in automobile and cement sectors faced heavy sell-off.
Earlier, the day kicked off on a positive note, however, volatility emerged immediately afterwards and erased the gains. Strong investor sentiment managed to lift the index again but a lack of positive triggers capped gains.
Stocks seen upbeat on macroeconomic indicators
Business
December 13, 2020
Stocks moved in a narrow bank during the outgoing week as investors remained aloof looking at rising political noise amid resignations in opposition ranks and rapidly rising Covid-19 cases in the country, dealers said.
However, it would expectedly change course in the upcoming week owing to suppressed food inflation and improving economic indicators.
Pakistan Stock Exchange s KSE-100 index was up by merely one percent or 263 points during the outgoing week to conclude at 42,470 points week-on-week (WoW). The KSE-100 index largely moved between the narrow range of 42,000 to 42,628 level.
Salman Ahmad, head of institutional investment at Aba Ali Habib said, “Owing to cautious investor sentiment, the market moved in narrow banks due to increasing friction between the federal government and 11-party opposition alliance.”
(L-R) Eyewitness News Director Clint Watson, Island Luck Marketing Manager Michelle Fox, VMG and PSL General Manager Gershan Major, AIDS Foundation President Camille Lady Barnett and Freedom March host Rodney Moncur.
NASSAU, BAHAMAS The Christmas season just got a little brighter for the Bahamas AIDS Foundation with the donation of more than 100 food boxes through a partnership with the IL Cares Foundation, Verizon Media Group (VMG) and Paramount Systems Limited (PSL).
AIDS Foundation President Camille Lady Barnett said the donation will impact some 40 families, around 150 people, who depend on the organization’s daily feeding programs that have been challenged due to the COVID-19 pandemic.
MYOB unveils New Zealand winners of 2020 MYOB Partner Awards 10 Dec 2020
MYOB has unveiled the winners of its 2020 Partner Awards, with Giles & Liew Chartered Accountants Limited, 3rd Arm Admin and Waikato resident Jennie Kingma of JK Business Systems Limited announced as the New Zealand winners.
Pivoting to an online format for what is now the 12th year of the awards, the honours celebrate excellence within the bookkeeping and accounting community across three categories: Accounting Practice of the year, Bookkeeping Practice of the year and Certified Consultant of the year.
Nominations for this year’s MYOB Partner Awards were reviewed by a judging panel including MYOB’s chief sales and support officer, Daniel West, who says it was the passion of the award candidates that shone through, with many of those nominated stretching their services to support their clients throughout the COVID-19 pandemic .