After a day of stopover, the stock market resumed its northward journey with the KSE-100 index ramping up 219.49 points, or 0.48 per cent, on the final day of the trading week. AFP/File
KARACHI: After a day of stopover, the stock market resumed its northward journey with the KSE-100 index ramping up 219.49 points, or 0.48 per cent, on the final day of the trading week, closing at 46,386 points.
The index started out in green and shot up to intraday high by 491 points. Investors accumulated stocks despite the weekend ahead. In the second session, the index retreated which took away much of the earlier gains. Foreign investors sold shares worth $3.51m followed by insurance companies offloading stocks valued at $4.56m. Brokers also decided to take profit. The liquidity was mopped up by individuals who took fresh positions in stocks worth $4.66m during the day followed by purchase at dips by companies, banks and mutual funds.
Market watch: Stocks rise as quarterly results trickle in
Benchmark KSE-100 index gains 170.75 points to settle at 46,458.13
Shares of 421 companies were traded. At the end of the day, 224 stocks closed higher. PHOTO: REUTERS
KARACHI:
The much-awaited corporate earnings season gained momentum and generated interest in the stock market on Wednesday as the benchmark KSE-100 index rose 171 points.
The market managed to sustain the gains recorded in the previous session, however, the benchmark index kept swinging between red and green zones as companies in certain sectors announced financial results for the quarter and half year ended December 31, 2020. The bullish trend was supported by technology and cement stocks.
Market watch: Bearish trend continues at PSX
Benchmark KSE-100 index drops 58.35 points to settle at 45,931
Shares of 412 companies were traded. At the end of the day, 169 stocks closed higher. PHOTO: FILE
KARACHI:
The stock market continued its downward march for a second day on Friday owing to weak cues coupled with global economic headwinds.
Weakening oil prices in the international market fuelled the bearish momentum at the Pakistan Stock Exchange (PSX). Oil prices fell as concerns about Chinese cities in lockdown due to virus outbreaks tempered a rally.
Stocks remained under pressure throughout the day due to a sombre investment climate as investors preferred to remain on the sidelines ahead of earnings season and monetary policy announcement in the second half of January.