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Market watch: Bulls maintain hold, lift KSE-100 by 329 points
Benchmark index rises 0.76% to settle at 43,416.77
Shares of 402 companies were traded. At the end of the day, 232 stocks closed higher. PHOTO: REUTERS
KARACHI:
Investors’ sentiment remained bullish at the Pakistan Stock Exchange on Thursday as the benchmark KSE-100 index gained 329 points ahead of a long weekend.
During the session, the country achieved the milestone of $200 million worth of inflows into Roshan Digital Accounts and the news mainly fueled the market’s uptrend. On the back of investor optimism, index-heavy automobile, cement and financial sectors closed with handsome gains.
Foreign institutional investors, however, divested over Rs2 billion worth of shares, thus capping gains.
Market watch: Stocks bounce back to recoup losses
Benchmark KSE-100 index rises 180.76 points to settle at 43,087.70
PHOTO: AFP
KARACHI:
The benchmark KSE-100 index staged a smart recovery at the stock market on Wednesday after plunging nearly 1,200 points since last Friday and it ended the session in the green, aided by cherry-picking from investors.
During the trading session, global crude oil prices steadied with Brent crude futures edging up $0.02 to $50.10 a barrel and US West Texas Intermediate (WTI) crude futures easing $0.01 to $47.01 a barrel.
The oil market recovery triggered a buying spree in oil stocks at the Pakistan Stock Exchange and resultantly exploration and production and oil marketing companies moved higher.
Market watch: Selling pressure drags KSE-100 down
Benchmark index falls 426.82 points to settle at 42,906.94
Shares of 405 companies were traded. At the end of the day, 187 stocks closed higher. PHOTO: FILE
KARACHI:
Selling pressure persisted at the Pakistan Stock Exchange on Tuesday, which pulled the KSE-100 index down by 427 points as the emergence of a new Covid-19 strain weighed on investors’ sentiment.
The coronavirus strain, discovered in the UK, sent financial and equity markets around the world plunging.
A dip in global oil prices, as a result of negative news flow, had a spillover effect on the domestic oil sectors and stocks of exploration and production and oil marketing companies faced a substantial selloff.