Business
April 28, 2021
Stocks fell on Tuesday as profit-taking followed an institutional cash injection a day earlier, with most of players remaining noncommittal as stricter virus curbs loom large, dealers said.
KSE-100 Shares Index, the benchmark of Pakistan Stock Exchange’s (PSX), suffered a loss of 0.68 percent or 210.73 points to close at 45,292.87 points. Volumes eased to 366 million shares from 409.08 million in the last trading session.
Topline Securities in its daily market review said the index witnessed a volatile session, printing an intraday high of 45,937 (up 0.56 percent) and an intra-day low of 45,170 (down 1.12 percent).
Fears of COVID related lockdown came to haunt the market again after the Sindh Government decided to ban intercity transport and close educational institutes while the ongoing futures rollover week also added extra pressure, the brokerage said.
Market watch: Stocks extend losses amid lack of triggers
Benchmark KSE-100 index falls 233.75 points to close at 45,059.12
Overall trading volumes dropped to 305.8 million shares compared with Tuesday’s tally of 366.8 million. PHOTO: FILE
KARACHI:
The stock market extended its fall on Wednesday in the absence of positive cues, though the pace of decline slowed down from the previous day.
In the morning, the benchmark KSE-100 index opened in the green, however, as an uneasy calm prevailed in the market, the index succumbed to selling pressure from exploration and production, bank and cement sectors. A lack of positive triggers kept investors cautious throughout the trading session.
Stocks rebound on institutional buying binge
Business
April 27, 2021
Stocks on Monday surged from last week’s virus-led lows as institutions lifted heavyweights, with sentimental support coming from a downtick in new infections over the weekend, dealers said.
Pakistan Stock Exchange’s (PSX) KSE-100 Shares Index gained 2.18 percent or 976.01 points to close at 45,682.77 points.
Volumes ballooned to 409.08 million shares from 240.48 million in the last trading session.
An analyst at Pearl Securities said despite the prevailing uncertainty regarding Covid cases and the related lock-down, stocks started the rollover week on a positive note primarily supported by the index heavyweights.
“Market rumors suggest heavy buying from a big pension fund and a likely rate cut to counter the negative impact on coronavirus,” the analyst added.
KSE-100 stage sharp recovery amid buying spell by Mutual Funds; index up 976 points
Stocks stage sharp recovery at Pakistan Stock Exchange (PSX), amid heavy buying spree by Mutual Funds.
On Monday , the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,952.45 level after gaining 1,245.69 points. However, paring some early gains the index clocked at 45,682.77 index level by the closing bell after posting a 976.01 points gain.
During the session the strong earnings announcements propelled bullish sentiments as many scrips became active namely in the Banking, Oil, Fertilizer and Cement sector.
The government’s allocation of six exploration blocks to Oil & Gas exploration companies also resulted in strong investment inflows towards the sectors, specifically Oil & Gas Development Company Limited and Pakistan Petroleum Limited
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