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PSX witnesses bearish trend a day after Senate elections: report
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PSX witnesses bearish trend a day after Senate elections: report
KARACHI (WEB DESK) - Senate outcome sent some shivering signals to investors where selling spree hit the deck wiping about 2 percent of 100 index where dozens of companies shares finished at low marks, dealers said.
The KSE-100 index marked a bloodbath session today after the senate election results, where against odds the opposition party emerged victorious on the key senate seats. Investors also feared over covid-19 third wave that caused 75 deaths yesterday (highest in 3 months) along with rise in PIB yields (20-40bps) in the auction held last day said Zaid Aftab research analyst at Pearl Securities.
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Business
January 29, 2021
Stock gave up gains on Thursday as wobbly oil and equities around the world spurred profit-selling in overbought heavyweights, interrupting the result season rally for now, dealers said.
KSE-100 shares index, the benchmark of Pakistan Stock Exchange (PSX), shed 0.63 percent or 292.08 points to end at 46,166.05 points. Volumes ballooned to 844.002 million shares, from 610.940 million on Wednesday. KSE-30 shares index suffered a loss of 0.57 percent or 111.16 points to end at 19,259.11 points.
Salman Ahmad, head of institutional sales at Aba Ali Habib Securities said the selling was due owing to the rollover period; however, positivity centered on the earnings announcements was likely to keep any big correction at bay.
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Stocks dip on Moody’s dismal outlook
Business
January 15, 2021
Stocks on Thursday slipped in an overbought market as bet-hedging investors chose not to take any chances after a Moody’s report raised concerns over economy, dealers said.
Benchmark KSE-100 shares index lost 0.22 percent or 102.61 points to close at 45,989.35 points at Pakistan Stock Exchange (PSX). Volumes decreased to 620.746 million shares, from 845.282 million Wednesday. KSE-30 dipped 0.56 percent or 108.47 points to end at 19,177.68 points level.
Muhammad Saeed Khalid, research head at brokerage Shajar Capital, said the stock market remained sluggish mainly because of Moody s dim economic recovery outlook along with the expected decline in banking profitability.
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