Market watch: Winning streak continues for 4th straight session
Benchmark KSE-100 index climbs 593.25 points to settle at 45,450.31
KARACHI:
The Pakistan Stock Exchange (PSX) extended its rally for the fourth straight day on Wednesday with the benchmark KSE-100 index adding another 593 points to the total level.
The market kicked off trading on a positive note and remained bullish for most of the day as the index touched intra-day high of 683 points. The index roared past the 45,000-point mark in the first hour of trading.
The decision taken by the opposition alliance – the Pakistan Democratic Movement (PDM) – to postpone its long march planned for later this month provided a positive trigger to the market.
Market watch: KSE-100 posts modest gains in choppy trade
Benchmark index advances 90.47 points to settle at 44,857.06
PHOTO: AFP
KARACHI:
The stock market extended gains on Tuesday as the benchmark KSE-100 index posted a modest rise, finishing its third successive session in the green.
Trading remained choppy for the entire day where the index rose to intra-day high of 144 points. Investors welcomed the growth in large-scale manufacturing sector, which grew 7.9% in the first seven months of current fiscal year.
Moreover, expectations about the monetary policy announcement by the State Bank of Pakistan (SBP) on Friday (March 19) kept the investment climate positive.
Pakistan’s fuel oil exports to fall as peak summer season approaches: analysts
Pakistan’s fuel oil exports are expected to drop during the peak summer season of May-July, as increased household and industrial consumption drives up domestic power sector’s reliance on the fuel, market analysts told S&P Global Platts.
Abdullah Umer, a research analyst at Karachi-based brokerage Ismail Iqbal Securities, said that among domestic electricity producers commonly known as Independent Power Producers, or IPPs fuel oil demand witnessed a 36% growth in the 2020-2021 fiscal year, while fuel oil-based power generation rose 17% over the same period.
IPPs account for about 80% of the country’s fuel oil consumption, with the remaining 20% coming from captive power plants installed at domestic heavy industries, local refinery sources said.
Stocks sink on political risks; corona angst lingers
Business
March 12, 2021
Stocks again meandered on Thursday as a continued rise in coronavirus cases dashed hopes of a recovery from the pandemic-induced economic slump, while escalating political tension heaped pressure on inventors portfolio, dealers said.
They said the market witnessed another massive sell-off and most of the active stocks in refineries, technology and autos ended at their lower circuit breakers.
Pakistan stock exchange (PSX) KSE-100 shares index shed 2.09 percent or 911.92 points to close at 42,779.76 points. KSE-30 shares index shed 2.54 percent or 464.65 points to close at 17,861.20 points.
As many as 351 scrips were active of which 47 advanced, 351 declined and 10 remained unchanged. The ready market volumes stood at 406.1 million shares compared with the turnover of 363.24 million shares in the last trading session.
Market watch: KSE-100 takes another battering
Benchmark index nosedives 911.92 points to settle at 42,779.76
Shares of 408 companies were traded. At the end of the day, 47 stocks closed higher. PHOTO: REUTERS
KARACHI:
The Pakistan Stock Exchange on Thursday experienced another round of battering as it nosedived 912 points on the back of looming uncertainty about taxes and an unstable political situation.
With the latest drop, the bourse has lost over 3,000 points since the start of the ongoing week.
Keeping in view the Senate chairman election on Friday and in order to avoid the impact of an upset similar to the one experienced last week, investors chose to dispose of their stockholdings.