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.
Stocks drift higher in sluggish week - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
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.
Pakistan Stock Exchange Announces Top 25 Companies Awards Recipients
National
February 10, 2021
Karachi: In a year full of events and developments, some positive and some challenging, Pakistan Stock Exchange has announced the recipients of the Top 25 Companies Awards for the year 2019. As per tradition, the criteria for selecting such companies was also updated and upgraded in 2019 in line with the evolving business environment and requirements.
The Top 25 Companies Award is a tradition at Pakistan Stock Exchange which goes back to 1978.
On the announcement of the Top 25 Companies Awards recipients, the MD & CEO of Pakistan Stock Exchange, Mr. Farrukh H. Khan, stated, “Top 25 Companies Award is the most prestigious recognition of overall corporate performance in Pakistan. I would like to congratulate all the companies that have achieved this distinction for 2019.’’
Lucky Cement profit surges 135pc on construction strength
Business
January 30, 2021
KARACHI: Lucky Cement profit jumped 135 percent to Rs4.541 billion in the first half of fiscal year 2020/21, translating into earnings per share (EPS) of Rs14.04, a bourse filing said on Friday.
The company posted Rs1.936 billion with EPS of Rs5.99 in the same period ended December 31, 2019. Dividend payments were nil as per the notice submitted to the Pakistan Stock Exchange.
Sales showed improvement, as net sales went up 42 percent to Rs30.075 billion from Rs21.211 billion in the first half of 2019.
Brokerage Arif Habib Limited in a report said, “Company’s top-line witnessed an uptick of 36 percent YoY to Rs15.7 billion in