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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.
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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.
Market watch: KSE-100 boosted by upbeat economic data
Benchmark index rises 164.56 points to settle at 42,470.40
KARACHI:
The stock market largely ignored political uncertainty for the third straight day on Friday, notching up modest gains as investors focused on encouraging economic data.
According to the State Bank of Pakistan (SBP), workers’ remittances increased to $2.34 billion in November 2020, 2.4% higher than in October and 28.4% higher than in November 2019.
Furthermore, the Asian Development Bank in its Outlook Supplement stated that Pakistan’s economy was on the path of recovery, particularly in the manufacturing and construction sectors, which boosted investors’ confidence.
However, political uncertainty ahead of Pakistan Democratic Movement’s (PDM) rally on December 13, coupled with rising coronavirus cases, gave bears a chance to take charge at regular intervals.