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PSX flat ahead of monetary policy huddle July 28, 2021 Stocks were muted on Tuesday amid shifting risk appetite as noncommittal investors booked profits ahead of the central bankâs monetary policy meeting later in the evening, traders said. Pakistan Stock Exchange s (PSX) benchmark KSE-100 Share Index closed just 14.31 points or 0.03 percent higher at 47,686.99, touching a day high of 47,910.12 points and 47,631.56 points. Ahsan Mehanti, an analyst at Arif Habib Corp, said, stocks showed recovery amid thin trade on speculations ahead of SBP policy announcement today. Mid-session pressure seen owing to falling Asian equities and concerns over reports of Rs473 billion GIDC (gas infrastructure development cess) recoverable from industrials. ....
Stocks open rollover week in red July 27, 2021 Stocks were off to a strong start on Monday led by select names, but were later pulled down by others as rollover week has kicked in amid economic jitters, traders said. Pakistan Stock Exchange s (PSX) benchmark KSE-100 Shares Index shed 120.39 points or 0.25 percent to close at 47,672.68 points, testing a day high of 47,930.85 points and a low of 47,608.79 points. Zafar Moti, former director PSX, said the market exuded optimism in the day as the opening was good because of PTI’s winning the Kashmir election. However, he said, traders thought a billion shares would be traded in this session as it had happened right after Ramazan/Eid-ul-Fitr holidays but the momentum fizzled with selling orders coming in the end. ....
Stocks tread water ahead of Eid holidays July 20, 2021 Stocks were little changed in thin trade on Monday as investors prepared for Eid al-Azha holiday break, traders said. Pakistan Stock Exchange (PSX) benchmark KSE 100-Share Index closed higher by 38.93 points or 0.08 percent to end at 47,873.26 points against 47,834.33 points recorded in the last session. Intraday high was 48,004.54 points, while the lowest level of the day was recorded at 47,751.72 points. Ahsan Mehanti, analyst at Arif Habib Corp, said, “Stocks closed higher amid thin trade on speculation in the earnings season. Mid-session pressure persisted on falling global crude oil prices and diplomatic row.” Surge in local petroleum prices, negotiations with independent power producers (IPP) for circular debt resolution and deals, as well as likely hike in local power tariff played a catalytic role. ....
Stocks end draggy week on decent note July 17, 2021 Stocks on Friday closed a stagnant week on a decent note, with investors mostly betting on better earnings down the road, traders said. The benchmark KSE-100 Shares Index at Pakistan Stock Exchange (PSX) finally managed a decent gain of 206.07 points or 0.43 percent to close the day at 47,834.33 points, hitting day high and low of 47,892.20 points and 47,628.26 points respectively. Ahsan Mehanti, analyst at Arif Habib Corp, said stocks closed bullish led by selected scrips across the board amid speculations ahead of major earning announcements due next week. He said mid-session pressure remained on falling global crude oil prices and foreign outflows. ....
Stocks sluggish as investors stick to sidelines July 16, 2021 Stocks on Thursday started with a sideways drift but later made some gains that were capped by late profit-booking ahead of eid holidays, traders said. Pakistan Stock Exchange s (PSX) benchmark KSE-100 Shares Index could only manage to gain 136.79 points or 0.29 percent to close at 47,628.26 points, while it tested a day high of 47,736.13 points and a low of 47,388.55 points. Zafar Moti, former director PSX, said the market kept going up and down during the session. “The market remained directionless ahead of last working day of the week (Friday).” Moti said there were concerns over Taliban issue as it was not good news for Pakistan. “Petrol prices are increasing. There is a liquidity crunch while real picture of the stocks will become clear after Eid,” Moti added. ....