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KSE-100: Stocks close flat in range bound session

KSE-100: Stocks close flat in range bound session
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KSE-100 stage sharp recovery amid buying spell by Mutual Funds; index up 976 points

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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Market watch: KSE-100 loses ground, falls below 46,000

Market watch: KSE-100 loses ground, falls below 46,000
Benchmark index drops 103 points to settle at 45,989.35
Shares of 405 companies were traded. At the end of the day, 187 stocks closed higher. PHOTO: FILE
KARACHI:
A day after breaching the 46,000-point barrier, the bourse turned bearish on Thursday and the KSE-100 index shed 103 points as Moody’s report on Pakistan’s economy played on investors’ mind and they resorted to profit-booking.
Moody’s Investors Service on Wednesday projected that Pakistan’s economy would grow at a slow pace of 1.5% during the ongoing fiscal year, which pushed market players to divest their stockholdings.
In the morning, trading began on a positive note, however, the optimism was overshadowed by gloomy news flow and as a result the index oscillated between green and red zones throughout the day. ....

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