Business
January 14, 2021
Stocks on Wednesday extended gains to make it to a near 33-month high in copious trade, mainly betting on rich corporate results and hopes of big industry revival following upbeat manufacturing data, dealers said.
Benchmark KSE-100 shares index ended 0.37 percent or 169.92 points higher to close at 46,091.96 points at Pakistan Stock Exchange (PSX).
Volumes increased to 845.282 million shares from 825.893 million on Tuesday. KSE-30 shares index was up 0.39 percent or 74.02 points to end at 19,286.15 points.
Muhammad Saeed Khalid, head of research at Shajar Capital, said the market remained robust and performed well above the 46,000 points, marking an intraday high of 393 points, mainly on the expected approval of Textile Policy FY25 the ECC.
Business
December 30, 2020
Stocks on Tuesday lost to profit-taking in overbought shares as investors hedged their bets after the surfacing of a coronavirus variant in the country, where economy remains vulnerable in the face of the second wave of the pandemic, dealers said.
Benchmark KSE-100 shares index lost 0.9 percent or 392.01 points to close at 43,282.27 points at Pakistan Stock Exchange (PSX). Ready market volume increased to 503.119 million shares, as compared with 463.412 million on Monday. KSE-30 shed 1.16 percent or 211.93 points to end at 18,001.40 points level.
Topline Securities in a note said the index opened the day on a positive note printing an intraday high of 43,912, but succumbed to selling pressure towards the end of the day.
December 19, 2020
Stocks ended barely changed after getting off to a good start as second-session profit-taking wiped out all the early points, despite firm fundamentals and strong sentiments, dealers said.
Pakistan Stock Exchange’s (PSX) benchmark KSE-100 shares index lost 0.06 percent or 26.13 points to close at 43,740.56 point.
Volumes decreased to 482.628 million shares, as compared to 497.562 million shares in the previous session. KSE-30 also hit a low of 0.14 percent or 25.43 points to end at 18,246.21 points level.
Topline Securities in a note said continuing its momentum from the previous day (Thursday), the market opened on a positive note to make an intraday high of 189 points. However, intraday profit taking in second half of the trading session led the index to close on a flat note, the brokerage added.
Stocks flat after hitting new intraday highs
Business
December 16, 2020
Stocks on Tuesday staged a stellar show that flopped near the end as investors stampeded to book profits after global oil and equity rout hit the panic button, dealers said.
Pakistan Stock Exchange’s (PSX) benchmark KSE-100 shares index lost 0.04 percent or 15.38 points to close at 43,250.84 points, while volumes increased to 702.210 million shares, as compared with 629.525 million on Monday. KSE-30 also hit a low of 0.27 percent or 47.97 points to end at 18,040.70 points level.
Ovais Ahsan, chief executive officer at Optimus Capital Management said the market closed slightly in the negative zone as profit-taking clipped intraday gains.