Market watch: Bears hold sway as PSX dives 407 points
Benchmark KSE-100 index falls 0.93% to settle at 43,333.76
KARACHI:
The stock market gave in to bearish pressure on Monday as the benchmark KSE-100 index dived over 400 points owing to weak cues coupled with the economic headwinds faced globally.
Weakening oil prices in the international market coupled with rising coronavirus cases fuelled the bearish momentum at the opening of rollover week.
Oil prices tumbled more than $3 before trimming losses as a fast-spreading new coronavirus strain that had led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand.
The benchmark index opened down and despite brief spikes it maintained its march towards south. The downward trend turned steeper towards the end of the session. Nevertheless, the bourse managed to sustain the 43,000-point mark.
Market watch: KSE-100 climbs to 30-month high
Benchmark index gains 406.5 points to settle at 43,766.69
Shares of 416 companies were traded. At the end of the day, 304 stocks closed higher. PHOTO: FILE
KARACHI:
Bull-run continued at the Pakistan stock market on Thursday as the KSE-100 index extended gains by 407 points primarily due to a rally in global oil prices, which lifted the bourse to a 30-month high.
International oil benchmarks, which soared to a nine-month high, sparked buying interest in exploration and production and oil marketing companies’ sectors at the Pakistan bourse.
Dismal foreign direct investment (FDI) data, which depicted an outflow of $16 million in November 2020, failed to impact market activity as sentiment of market participants remained strong throughout the session. Improving macroeconomic indicators, coupled with a drop in political noise, overshadowed any negative news flow.
Source: Xinhua|
Editor: huaxia
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ISLAMABAD, Dec. 17 (Xinhua) Bull-run continued at the Pakistan Stock Exchange (PSX) for the second consecutive day on Thursday with the oil and fertilizer stocks taking the front seat and lifted the key index over 400 points.
The Pakistan Stock Exchange s benchmark KSE 100-Index increased by 0.94 percent, or 406.50 points, to close at 43,766.69 points on Thursday when compared with 43,360.19 points reported on Wednesday.
Companies like Oil and Gas Development Company, Pakistan Petroleum and Pakistan Oilfields posted substantial gains as crude oil prices in the international market went up further to entice investors to buy new positions. Market precipitants also took cue from a recent uptick in urea offtake to buy fertilizer shares.
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.
Market watch: KSE-100 experiences roller coaster ride
Benchmark index edges down 15.38 points to settle at 43,250.84
Shares of 418 companies were traded. At the end of the day, 199 stocks closed higher. PHOTO: REUTERS
KARACHI:
Pakistan Stock Exchange experienced a roller coaster ride on Tuesday as the KSE-100 index climbed in early hours and plunged in final hours, closing the session marginally down.
Encouraging data of large-scale manufacturing, which depicted growth of 5.46% for July-October 2020, failed to entice market participants to maintain the uptrend till the end of the session.
Earlier, trading kicked off on a positive note and a rally in initial hours helped the KSE-100 index gain close to 400 points. In final hours, however, profit-booking emerged as investors offloaded stocks at a rapid pace, which pulled the market down and wiped out all the gains.