KSE-100: stocks extend gains, index climbs by 206 points
July 17, 2021
Bulls took control at the Pakistan Stock exchange (PSX) on Friday to end the week on a positive note as uncertainty around Capital Gain Tax (CGT) submission ended, lifting investors’ sentiments.
On Thursday the benchmark kse-100 index had climbed past 47,800 level after posting about 206 points gain by the closing bell.
The trading kicked off on an optimistic note right after the opening bell as the index climbed steadily for most part of the day and touched intraday high of 47,892.20.
Investors continue to cheer up Eurobond proceeds of $1 billion, which also propped up the State Bank of Pakistan’s (SBP) foreign currency reserves to four-and-a-half-year high, which was also a major positive macroeconomic indicator.
KSE-100: stocks stage recovery as index climbs by 136 points Index clocks at 47,628 level; volume recorded at 191.69 million shares
July 16, 2021
Market participation by retail investors ended their dry spell on Thursday which lifted benchmark kse-100 index to climb past 47,600 level after posting about 136 points gain by the closing bell.
On Thursday, the trading kicked off on an optimistic note right after the opening bell as the index climbed steadily for most part of the day and touched intraday high of 47,736.13. However, the market came under selling pressure in final hours, which pared some of the gains.
Market sentiments were primarily driven by the rumors of Oil discovery in Waziristan, which directed major capital to index heavyweight Oil & Gas Development Company Limited (OGDCL), said Irfan Saeed, Senior Vice President BMA Capital Management Limited.
Index clocks at 47,480 level, volume recorded at 102 million shares
July 14, 2021
Market participation continued to dwindle at KSE-100 index in a range bound session on Tuesday, as looming deadline to submit Capital Gain Tax (CGT) kept investors away from the bourse.
On Tuesday, the index clocked at 47,480 level after posting a meagre 33.41 point gain by the closing bell. The index accelerated to an intraday high of 47,585.18 points and slid to an intraday low of 47,439.89 points, moving within a range of 145.29 points and closing the session in consolidation.
Earlier, trading began on a positive note and the index inched closer to the 47,600-point mark in early hours, however, investors took this as an opportunity to book profit, which interrupted the ascent and dragged the market down.
Foreign selling continued during the week clocking in at $5.2m. AFP/File
KARACHI: The stock market remained under the control of the bears during the outgoing week. And despite a surprise 805-point rally on Thursday spurred by the unexpected mutual funds’ buying of stocks worth $12.3m, the index closed in the negative trajectory for the remaining four sessions to close the week below the barrier of 48,000 points at 47,563, down by 123 points.
The week was plagued by negative news on several fronts; events continued to reshape neighbouring Afghanistan following the flight of the US; the simmering tensions between Pakistan and the US that threaten to mar the talks with IMF as well as jeopardize the country’s exit out of the grey list.
KSE-100: Early CGT collection-call triggers selling pressure; index down 98 points
July 8, 2021
Bears mounted pressure on the benchmark KSE-100 index for the fourth consecutive session as market sentiments were weighed by the collection of capital gain tax, high commodity prices besides geopolitical conditions.
On Wednesday, the KSE-100 index clocked at 47,247 level after posting about 98 points loss by the closing bell. The trading activity resumed on a negative note, as the Index traded in a range of 341.03 points or 0.72 percent of the previous close, showing an intraday high of 47,375.67 and a low of 47,034.64.
Irfan Saeed, Senior Vice President, BMA Capital Management limited said that the index opened the session and lost over 311 points owing to selling spell, which was primarily triggered by brokers and individuals, since the National Clearing Company of Pakistan limited (NCCPL) has announced to collect CGT on the data till May 2021, which has taken Market participants by