The Pakistani stocks yielded a mouth-watering return of 38 per cent in the financial year ended June 30, 2021. That was the highest return provided to the investors after 14 years 2013-14 had given a return of 41pc. But it has to be reckoned that over the past five years, the average yearly return dropped to 7pc as in the last three of the five years, the market performed extremely poorly: 2017-18 gave out a negative return of 10pc; 2018-19 a negative return of 19pc and 2019-20 yielded a nominal positive return of 1.53pc. With such a poor base, the 38pc return in 2020-21 is neither strange nor something to jump with joy.
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KARACHI: The stock market remained under pressure for the second day in a row on Wednesday as investors continued offloading their positions amid lack of positive triggers with the result the benchmark KSE 100-index lost 233.75 points, or 0.52 per cent, to close at 45,059.12 points.
Topline Securities Ltd noted in its market report that the trading began on a positive note and the index made an intraday high of 296 points. However, the market didn’t sustain the positivity as the second half witnessed a low of 272 points after ECC deferred summary till next meeting on 40pc payments to independent power producers (IPPs).
Stocks extend losses as investors play safe
Business
April 29, 2021
Stocks gave up more gains on Wednesday with energy and financials becoming investorsâ whipping boys as the pandemic shows no letup, dealers said.
Pakistan Stock Exchangeâs (PSX) KSE-100 Shares Index lost 0.52 percent or 233.75 points to close at 45,059.12 points, while trade volumes receded to 305.7 million shares from 366.8 million on Tuesday.
Topline Securities in a note said earlier the kick off was on a positive note where the market made an intraday high of 296 points.
However, the bourse didnât sustain the positivity and lost 272 points in te second half after ECC (Economic Coordination Committee) of the cabinet deferred the summary till next meeting on 40 percent payments to IPPs (Independent power producers), it said.
PSX marks SGFL listing
April 29, 2021
KARACHI: Pakistan Stock Exchange (PSX) on Wednesday held a gong ceremony to mark the listing of Service Global Footwear Limited (SGFL), a statement said.
The recently concluded Initial Public Offering (IPO) of Service Global Footwear Limited resulted in the sixth listing on the equity board of the Stock Exchange for the fiscal year 2021. “This is a positive development as additional companies are getting listed intermittently since the beginning of this fiscal year,” the exchange said.
The IPO was a resounding success with the strike price being discovered at PKR 53.20 per share. A large number of investors, totaling 416 in number, including institutions as well as (foreign & local) individuals took part in the successful bidding in the book building phase.