Market watch: KSE-100 rises 118 points on budget optimism
Benchmark index advances 0.25% to close at 48,211.70
KARACHI:
The stock market reversed its trend on Friday and staged a modest rally, helping the KSE-100 index close with a gain of 118 points.
Automobile sector stocks attracted substantial investor internet on the back of anticipation of reduction in taxes on cars in the budget for fiscal year 2021-22.
A news report suggested that the government was considering slashing taxes on new imported and locally assembled cars of up to 800cc engine capacity in the budget.
A spike in international crude oil prices put the spotlight on the local oil-related sectors where market participants made fresh investments.
Market watch: KSE-100 rallies over political clarity
Benchmark index rises 486.21 points to close at 45,399.78
KARACHI:
Bulls made a comeback to the Pakistan Stock Exchange on Tuesday as the benchmark KSE-100 index climbed 486 points owing to the much-awaited resolution of political dispute and negotiations between the government and protesters.
A host of encouraging financial results, announced during the session, helped the market sustain the buying momentum.
A marginal drop in Covid-19 cases on Monday sparked some optimism about the economy and enticed investors to take fresh positions.
Earlier, trading began with a spike as investors poured money into attractive stocks. The index crossed the 45,500-point mark multiple times, however, selling pressure towards the end of the session restrained the market from closing above that threshold.
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Market watch: KSE-100 posts modest gains in choppy trade
Benchmark index advances 90.47 points to settle at 44,857.06
PHOTO: AFP
KARACHI:
The stock market extended gains on Tuesday as the benchmark KSE-100 index posted a modest rise, finishing its third successive session in the green.
Trading remained choppy for the entire day where the index rose to intra-day high of 144 points. Investors welcomed the growth in large-scale manufacturing sector, which grew 7.9% in the first seven months of current fiscal year.
Moreover, expectations about the monetary policy announcement by the State Bank of Pakistan (SBP) on Friday (March 19) kept the investment climate positive.
Market watch: Despite political uncertainty, stocks rise
Benchmark KSE-100 index gains 196.51 points to settle at 46,160.78
PHOTO: AFP
KARACHI:
The stock market extended its gains for the second consecutive day on Wednesday as the benchmark KSE-100 index rose nearly 200 points and crossed the 46,000-point mark.
Investors seemed to be ignoring the political uncertainty ahead of the crucial Senate vote and cautiously took fresh positions. The bull-run came on the back of strong investor sentiment, which fuelled buying interest post-corporate earnings season.
Improved cement sales data, with sales growing 1.98% to 4.577 million tons in February 2021 as compared to 4.489 million tons in February 2020, and surging crude oil prices in the international market lent support to the stock market.