KSE-100: Stocks extend gains on upbeat economic projections; index up 203 points
May 26, 2021
Bullish momentum continued at Pakistan Stock Exchange (PSX) as stocks extended gains for the third consecutive session on Tuesday, as investors’ sentiments remained upbeat on positive economic indicators.
On Tuesday, the benchmark KSE-100 index clocked at 46,300 index level after gaining about 203 points by the closing bell, as the Index remained positive throughout the session touching an intraday high of 46,371.69 and a low of 46,047.66.
Investors anticipating tax incentives for the industries in the upcoming budget helped the KSE-100 index boost market sentiments, as investors react to the news that the government may be formulating a populist budget proposal to keep the personal income taxes and power tariffs unchanged.
KSE-100: Stocks plunge as political worries weigh heavy
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KSE-100: Positive economic indicators lifts stocks; index closes just shy of 46,000 level
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KSE-100: Stocks extends winning streak; index up 231 points
May 7, 2021
Bullish momentum continued to rule the market sentiments at Pakistan Stock Exchange (PSX) as stock extended its winning streak into the third day owing to positive news-flow over resolution of long term IPP issue and government’s decision to renegotiate tariffs and tax issue with the IMF, lifted market sentiments.
On Thursday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,245.37 level after gaining over 301.76 points. However, the index clocked at 45,174.67 level by the closing bell after posting a 231 points gain.
During the session, investor sentiments were primarily buoyed by the news regarding the resolution of the long-awaited IPPs issue following the Economic Coordination Committee’s decision to pay the first tranche of outstanding dues of one set of IPPs, and further delay the payments of unpaid bills of another is discriminatory given that the government has sign