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Stocks rally on virus letup led bargain-hunting

Business May 5, 2021 Stocks rallied on Tuesday as a downtick in virus infection ratio triggered bargain-hunting, especially in blue chips, dealers said. Pakistan Stock Exchange’s (PSX) KSE-100 Shares Index gained 1.11 percent or 487.39 points to close at 44,563.59 points. Volumes shrank to 221.5 million shares from 238.44 million in the last trading session. Neelam Naz at JS Global Capital said the news of a slight downward trend in Covid cases and positivity ratio on Monday after a continuous rise in recent weeks was taken as a breather by the market. “Going forward, a cautious stance is advised in the market and sell on strength is recommended in the coming sessions amid Covid-related uncertainty,” Naz said.

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Stocks remain on ropes as economic uncertainty deepens

Stocks remain on ropes as economic uncertainty deepens Business April 30, 2021 Capital market rout prevailed amid volatile trade as investors continued to pull out, bracing for further tightening of economic activities owing to worsening virus situation, dealers said. Pakistan Stock Exchangeâs (PSX) KSE-100 Shares Index shed 0.44 percent or 196.01 points to close at 44,863.11 points, while volumes shrank to 280.67 million shares from 305.7 million on Wednesday. Brokerage Topline Securities in a note said after a slight positive opening the market traded sideways in thin volume, making an intraday low of 278 points. Investors were concerned about rising Covid-19 cases and rise in smart lockdowns following a meeting of NCOC (National Command Operation Center), it added.

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Stocks extend losses as investors play safe

Stocks extend losses as investors play safe Business April 29, 2021 Stocks gave up more gains on Wednesday with energy and financials becoming investorsâ whipping boys as the pandemic shows no letup, dealers said. Pakistan Stock Exchangeâs (PSX) KSE-100 Shares Index lost 0.52 percent or 233.75 points to close at 45,059.12 points, while trade volumes receded to 305.7 million shares from 366.8 million on Tuesday. Topline Securities in a note said earlier the kick off was on a positive note where the market made an intraday high of 296 points. However, the bourse didnât sustain the positivity and lost 272 points in te second half after ECC (Economic Coordination Committee) of the cabinet deferred the summary till next meeting on 40 percent payments to IPPs (Independent power producers), it said.

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Stocks extend losses as investors play safe

Stocks extend losses as investors play safe
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Muhammad mubasharNational refineryColgate palmoliveArif habibEconomic coordination committeeAhsan mehanti at arif habib corpDebt service suspension initiativePakistan stock exchangeInternational steelInternational industriesService global footwearStock exchangeArif habib corpHabib limitedGlobal footwearLucky cement