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Stocks tread water ahead of Eid holidays


Stocks tread water ahead of Eid holidays
July 20, 2021
Stocks were little changed in thin trade on Monday as investors prepared for Eid al-Azha holiday break, traders said.
Pakistan Stock Exchange (PSX) benchmark KSE 100-Share Index closed higher by 38.93 points or 0.08 percent to end at 47,873.26 points against 47,834.33 points recorded in the last session. Intraday high was 48,004.54 points, while the lowest level of the day was recorded at 47,751.72 points.
Ahsan Mehanti, analyst at Arif Habib Corp, said, “Stocks closed higher amid thin trade on speculation in the earnings season. Mid-session pressure persisted on falling global crude oil prices and diplomatic row.”
Surge in local petroleum prices, negotiations with independent power producers (IPP) for circular debt resolution and deals, as well as likely hike in local power tariff played a catalytic role. ....

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Stocks rise tracking oil, regional peers


Stocks rise tracking oil, regional peers
Business
May 26, 2021
Stocks continued winning streak on Tuesday as energy shares tracked gains in global oil prices, while technology and cement scripts also supported the bullish market, dealers said.
An analyst at Arif Habib Limited said oil and gas marketing companies bore selling pressure on the news of cancellation of operating licenses and probe by government, whereas E&P sector responded positively to the increase in international crude oil prices.
“Cement sector also performed in the expectation of an increase in cement prices. Technology sector stocks led the index today with across the board strong price performance, particularly from Netsol, Worldcall Telecom and Systems Limited.” ....

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