Stocks seen sensitive to inflation, results
Business
January 24, 2021
Stocks are seen flattish-to-mixed with rollover adjustments mostly keeping gains in check amid fears of an inflationary spike, but strong corporate earnings may give the index a leg to stand on, dealers said.
Pakistan Stock Exchange s (PSX) KSE-100 shares dipped 0.12 percent or 62.96 points to close at 45,868 points over the last week, mostly owing to a profit-selling spree in the overbought zone.
As of January 21, 2021, the outstanding futures value was recorded at Rs23.5 billion as compared to Rs23.7 billion last week (January 15, 2021). Muhammad Saeed Khalid, head of research at Shajar Capital, said, “We believe the index to remain on the downward trajectory mainly due to start of the rollover week where inflation numbers are expected to be released”.
Business
January 6, 2021
The stock market on Tuesday ended flat following a choppy session, as institutions sold their holdings to book profits and seasoned investors anxiously waited for cabinet approval on construction sector and government nod on energy bonds, dealers said.
Topline Securities in a note said the benchmark KSE-100 shares index witnessed a choppy session as it touched an intra-day high of 44,830 (up 0.32 percent) and an intra-day low of 44,458 (down 0.51 percent) to eventually close flat at 44,650 (down 0.08 percent).
Kot Addu Power Company Limited (Kapco) remained in the limelight, owing to the partial payment pertaining to the circular debt, with its stock closing at the upper circuit.