KARACHI: Stocks on Monday hit a tailspin in tow with a global rout, mostly after crude oil spiked to its highest level since 2008, while local political tumult that s gaining traction by the day.
Market watch: Bears continue to rule PSX tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
Stocks leap as data beats lockdown blues
August 3, 2021
Stocks spun higher on Monday led by textiles and technology on dollar strength, while upbeat economic data cheered investors out of virus lockdown blues, traders said.
Pakistan Stock Exchange s (PSX) benchmark KSE-100 Shares Index gained Rs397.96 or 0.85 percent to close at 47,453.25 points, touching a day high of 47,508.74 points and a low of 47,051.81 points.
Ahsan Mehanti, analyst at Arif Habib Corp, said, stocks showed sharp recovery in the earnings season amid late session buying on reports of record $2.35 billion exports in July surging 17.3 percent year-on-year. Higher global crude oil prices and speculations ahead of major earning announcements this week strengthened the sentiment, Mehanti added.
KSE-100: Foreign selling weighs down index by 451 points
April 8, 2021
Following a short-lived recovery in the previous session at the Pakistan Stock Exchange (PSX), the market was in jitters on Wednesday owing to heavy selling pressure by the foreign investors, as benchmark KSE-100 index lost 451.12 points by the closing bell and breached 43,000 level.
Investors once again were in frenzy, as selling pressure in index heavy-weight stocks weighed on sentiments. On Wednesday, the index opened positive, following previous session’s gains, and touched intra-day high at 44,571.91 after it gained 167.91 points. However, reversing the earlier gains, the index entered negative territory and lost 646.65 points to touch intra-day low at 43,758.05 level.