KSE-100: Covid lockdown fear extends losses; index plunges 376 points
April 23, 2021
Stocks extended their losses for the second day at Pakistan Stock Exchange (PSX) on Thursday, as rising fear over fresh rounds of Covid lockdown restrained the index.
On Thursday , the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,496.82 level after gaining 190.28 points. However, paring early gains the index reversed its trajectory and clocked at 45,929.61 index level by the closing bell after posting a 376.93 points loss.
During the session the market was gripped with fears of rising Covid cases, after the Federal Minister for Planning and Development and the Chief of the National Command and Operation Centre (NCOC) Asad Umar on issued a warning and said that if the coronavirus situation continues to worsen in the country, the government will be compelled to impose more restrictions, which dampened investors’ confidence.
Stocks rally on results, UAE loan rollback
Business
April 21, 2021
Stocks took a hop on Tuesday as some strong financial results and easing security concerns sparked a sentiment driven rally at the apex bourse, dealers said.
Pakistan Stock Exchange’s (PSX) KSE-100 Shares Index gained 1.08 percent or 486.21 points to close at 45,399.78 points. Volumes were flat at 343.28 million shares compared to 363.09 million on Monday.
Topline Securities in its market review said equities witnessed a rebound from yesterday’s sell-off with the index closing the day above the psychological level of 45,000 points.
“The uptrend is attributable to successful negotiations between the government and the protesting right wing political parties,” the brokerage said.
KSE-100: Stocks stage recovery amid signs of political stability
April 21, 2021
Bears ceded ground to bulls at the Pakistan Stock Exchange (PSX) on Tuesday, as investors reacted to successful negotiation between the government and the protesting Tehreek e Labaik Pakistan, which sent signs of stability.
On the second trading session of the week, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,558.13 level after gaining 644.56 points. However, paring some early gains the index clocked at 45,399.78 level by the closing bell after posting a 486.21 points gain.
The sentiments were also lifted following the announcement of rollover of $2 billion from United Arab Emirates (UAE) and an 8% MoM increase in FDI in the month of March further fuelled the investors’ sentiments.
Kse-100: Stocks post meager gains on lack of triggers
April 17, 2021
Bulls or Bears, stocks accommodated none at Pakistan Stock Exchange (PSX) on Friday, as lack of triggers kept investors sentiments in check, in a choppy trade.
On Friday, the benchmark kse-100 opened on a positive note and touched intra-day high at 45,471.35 level after gaining 241.17 points. However, selling pressure emerged by midday, which wiped off most of the gains. But, nevertheless, the index crawled up in the positive zone as by the closing bell the benchmark index gained 75.45 points to clock at 45,305.63 level.
During the session the market witnessed lack of investor interest, but higher expectations in upcoming financial results in key sectors was the sole reason which lent support to the bourse and aided its uptrend.
In this file photo, Pakistani stockbrokers watch the latest share prices on a digital board during a trading session at the Karachi Stock Exchange (KSE). AFP/File
KARACHI: Stock market on Friday showed some bullish signs as the KSE-100 index added 75.45 points, or 0.17 per cent, to close at 45,305.63 amid expectations of better corporate earning reports next week.
However, the volume plunged due to short trading hours in the weekend session, but index managed to close in the green despite profit-selling as investor sentiments remained choppy in the wake of TLP protests and rising Covid infection cases.
Arif Habib Ltd in its report stated that the market inched up on the brink of earnings season, with benchmark index hitting intraday high of 241 points.