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Market watch: KSE-100 rises ahead of long break
Benchmark index gains 231.06 points to close at 45,174.67
Shares of 358 companies were traded. At the end of the day, 231 stocks closed higher. PHOTO: REUTERS
KARACHI:
The Pakistan Stock Exchange on Thursday extended gains in a roller coaster session and the KSE-100 index rose 231 points owing to investor focus on selected sectors.
Index-heavy automobile, financial and fertiliser sectors attracted modest investor interest and lifted the market upwards. Investor sentiment kept on fluctuating ahead of long holidays as fears of a rise in Covid-19 cases could hamper economic activity.
Trading began on a positive note, however, investors resorted to profit-booking in initial hours, which dragged the index down.
Market watch: Bulls maintain control, lift KSE-100 upwards
Benchmark index rises 380.02 points to close at 44,943.61
Shares of 370 companies were traded. At the end of the day, 227 stocks closed higher. PHOTO: REUTERS
KARACHI:
Bulls held their positions at the Pakistan Stock Exchange on Wednesday and helped lift the KSE-100 index upwards by 380 points.
News of partial release of payments to independent power producers (IPPs) by the government aided the rally at the bourse.
Upbeat investor sentiment also stemmed from encouraging cement sales data for April 2021, which showed a double-digit growth on a year-on-year basis. As a result, stocks of cement and allied sector attracted investor interest.
Market watch: Inflation hike dents investor interest at PSX
Benchmark KSE-100 index drops 186.15 points to close at 44,076.20
PHOTO: AFP
KARACHI:
Bear maintained a firm grip over the Pakistan Stock Exchange on Monday, in line with the performance during the last futures rollover week, as soaring inflation fuelled selling pressure across the board ahead of upcoming prolonged holidays.
According to data announced by the Pakistan Bureau of Statistics, the inflation reading skyrocketed to 11.1% in April.
Moreover, the benchmark KSE-100 index maintained the downtrend due to news that the government had decided to close all businesses during 10-day long Eidul Fitr holidays, which forced investors to trade cautiously as they avoided taking fresh positions.
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