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The index moved up on Tuesday with revival of investor confidence in power and pharmaceutical sectors amid healthier volumetric gains in cement and oil sectors too, dealers said.Pakistan Stock. ....
Stocks on Thursday trailed a record global rally triggered by Joe Biden’s inauguration as the US president, with textiles mostly stealing the local limelight on zero-rating hopes, dealers. ....
Stocks down on mutual funds’ redemption drive Business January 21, 2021 Stocks on Wednesday succumbed to selloff by mutual funds in overbought shares, whereas concerns over likely monetary tightening also kept the range-bound market in adjustment mode, dealers said. Pakistan Stock Exchange s (PSX) benchmark KSE-100 shares index lost 0.49 percent or 226.29 points to close at 45,676.94 points. Volumes decreased to 476.618 million shares, from 491.787 million on Tuesday. KSE-30 shares index also dipped 0.66 percent or 127.11 points to end at 19,025.55 points level. Topline Securities in a note said after sideways opening market made an intraday low of 357 points, the cause of which according to market chatter was redemption from funds. Energy sector closed 1.5 percent lower despite higher international oil prices; meanwhile HUBC and ENGRO cumulatively dented the index by 54 points, the brokerage added. ....
Stocks sustain surge as energy goes north Business January 9, 2021 Stocks sustained their surge on Friday as index-heavyweight energy sector cheered a crude oil rally, amid support from an extended investor interest in banking shares on big dividend bets, dealers said. Pakistan Stock Exchange s (PSX) benchmark KSE-100 shares index gained 0.68 percent or 309.80 points to close at 45,654.34 points. Volumes increased to 696.434 million shares, from 641.437 million shares on Thursday. KSE-30 also hit a high of 0.61 percent or 115.53 points to end at 19,123.77 points level. Topline Securities in its daily market review said, the market continued its momentum, where index heavyweight banking and E&P sector remained in the limelight. Major contribution to the index came from UBL, MCB, OGDC, BAHL, and HBL, as they cumulatively added 167 points to the index, the brokerage said. ....
Business January 7, 2021 Stocks on Wednesday ended near three-year high as a surprise oil surge fired up energy sector that was later joined by cements on price hike hopes and banks because of strong earnings outlook, dealers said. Benchmark KSE-100 shares index hit a high of 1.13 percent or 502.99 points to close at 45,153.42 points at Pakistan Stock Exchange (PSX). Volumes increased to 664.538 million shares, from 582.367 million shares on Tuesday. KSE-30 gained 1.14 percent or 212.97 points to end at 18,921.67 points. Ovais Ahsan, chief executive officer at Optimus Capital Management, said oil and gas exploration sector led the rally initially tracking an up to 5 percent upsurge in crude oil overnight, mainly spurred by Saudi Arabia’s announcement of a surprise production cut. ....