KSE-100: stocks stage recovery as index climbs by 136 points Index clocks at 47,628 level; volume recorded at 191.69 million shares
July 16, 2021
Market participation by retail investors ended their dry spell on Thursday which lifted benchmark kse-100 index to climb past 47,600 level after posting about 136 points gain by the closing bell.
On Thursday, the trading kicked off on an optimistic note right after the opening bell as the index climbed steadily for most part of the day and touched intraday high of 47,736.13. However, the market came under selling pressure in final hours, which pared some of the gains.
Market sentiments were primarily driven by the rumors of Oil discovery in Waziristan, which directed major capital to index heavyweight Oil & Gas Development Company Limited (OGDCL), said Irfan Saeed, Senior Vice President BMA Capital Management Limited.
KSE-100: Directionless trade weighs on stocks; index dips 116 points Market capital decreases by Rs 21bn
July 13, 2021
Directionlessness played on the market sentiments on Monday, as the KSE-100 index kicked off the first trading session of the week on a bearish note, with contracting market volumes.
The index clocked at 47,447 level after posting 116 points loss, as it traded in a range of 306.76 points or 0.64 percent of previous close, showing an intraday high of 47,715.28 and a low of 47,408.52.
The market witnessed choppy behavior, owing to a surge in Covid positivity ratio as it crossed 3.9% which risks a fresh round of lockdown being imposed by the government. Moreover,rising uncertainty in the Afghanistan region where the Taliban claim to control 85% of the territory which also took a toll on investors’ sentiment.
KSE-100: Early CGT collection-call triggers selling pressure; index down 98 points
July 8, 2021
Bears mounted pressure on the benchmark KSE-100 index for the fourth consecutive session as market sentiments were weighed by the collection of capital gain tax, high commodity prices besides geopolitical conditions.
On Wednesday, the KSE-100 index clocked at 47,247 level after posting about 98 points loss by the closing bell. The trading activity resumed on a negative note, as the Index traded in a range of 341.03 points or 0.72 percent of the previous close, showing an intraday high of 47,375.67 and a low of 47,034.64.
Irfan Saeed, Senior Vice President, BMA Capital Management limited said that the index opened the session and lost over 311 points owing to selling spell, which was primarily triggered by brokers and individuals, since the National Clearing Company of Pakistan limited (NCCPL) has announced to collect CGT on the data till May 2021, which has taken Market participants by
KSE-100: Covid concerns, forward inflation risk keeps Investors on sidelines; index dips 82 points
July 7, 2021
Bears continued to rule at the KSE-100 index for the third consecutive session as investors remained on the sidelines- treading cautiously amid resurging Covid -19 cases in the country and rising concerns over forward Inflation.
On Tuesday, the trading activity resumed on a positive note, as the Index traded in the range of 417.75 points or 0.88 percent of previous close, showing an intraday high of 47,662.68 and a low of 47,244.93. The index clocked at 47,346 level by the closing bell after posting an 82 points loss. During the day, the National Command and Operation Centre (NCOC) held a meeting and indicated towards re-imposition of stringent standard operating procedures in view of a consistent uptrend in Covid-19 cases over the past one week. This report, in particular, coupled with higher international oil prices which weighed on inflation expectations, played on in
KSE-100 index jumps 135 points despite Year-end sale by Insurance companies
June 30, 2021
Pakistan Stock Exchange (PSX) witnessed a topsy-turvy trading session on Tuesday,as heavy selling pressure by Insurance Companies shadowed budget-approval optimism at the market.
On Tuesday, the index began the session on a positive note right after the opening bell and crossed the 47,500-point mark briefly after gaining over 500 points. However, failing to sustain the momentum, the index reversed its trajectory and pared earlier gains to touch intra-day low of 46,986.47 level.
The Index traded in a range of 522.35 points or 1.11 percent of previous close before settling at 47,137.77 level, posting at 135 points gain.