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Chinese consortium devises strategy to transform PSX

KARACHI: A Chinese consortium, which bought 40% stake in the Pakistan Stock Exchange (PSX) about two years ago and lost almost half of the value to poor market performance, has devised a strategy to transform the bourse into a world-class capital market, which will automatically give a boost to the national economy. PSC Managing Director Richard Morin while talking to ... Read More »

Bourse drops 445 points as investors offload holdings

KARACHI: Bears dominated trading at the stock market on Friday and the KSE-100 index dropped 445 points as investors were concerned whether the market would sustain the 40,000-point level. Following a brief open in the positive, investors resorted to profit-booking, resulting in a decline of nearly 500 points in the KSE-100 index at the end of first session. Volatility prevailed ... Read More »

BRINDEX-30 closed on lower side at 23,214.19 points with negative change

KARACHI: BRINDEX-30 closed on the lower side on Thursday at 23,214.19 points with a negative change of -92.94 and volume of 83,433,200 shares. High and Low were 23,435.88 and 23,198.92 respectively. Of 30 companies traded, 12 were up, 18 were down and 0 was unchanged. Total volume traded in the market was 137,668,780 shares. Total companies traded were 361 of ... Read More »

Stocks lose 109 points on profit-taking

KARACHI: After accumulating stocks for three consecutive sessions, investors decided to put off fresh buying and pocket profits on Wednesday. The KSE-100 Index shed 108.71 points (0.26 per cent) and closed at 41,505.68. The market got off to a weak start and remained volatile with the index touching intra-day high and low by 153 and 197 points respectively. Foreign investors ... Read More »

KSE-100 index ends three-day winning streak

KARACHI: The stock market endured a relatively volatile session as the index ended its three-day winning streak to close in the red. After a brief open in the positive, the KSE-100 index slipped as investors resorted to book profits owing as uncertainty drove sentiments. News reports of Finance Minister Asad Umar telling Prime Minister Imran Khan that the IMF deal ... Read More »

BRINDEX-39 closed on upper side at 23,494.41 points with positive change

KARACHI: BRINDEX-30 closed on the upper side on Monday at 23,494.41 points with a positive change of 401.22 and volume of 159,512,100 shares. High and Low were 23,551.94 and 23,085.77 respectively. Of 30 companies traded, 26 were up, 4 were down and 0 was unchanged. Total volume traded in the market was 254,108,750 shares. Total companies traded were 374 of ... Read More »

KSE-100 jumps 848 points, crosses 41,000 mark

KARACHI: The KSE-100 index continued to go north in the outgoing week as bullish sentiments prevailed in the market for the fifth consecutive week. The index gained 847.93 points, or 2.11%, during the week, closing above the 41,000-point mark. Positive sentiments were witnessed as the State Bank of Pakistan’s (SBP) foreign currency reserves crossed the $8-billion mark after the arrival ... Read More »

BRINDEX-30 closed on upper side at 23,093.19 points with positive change

KARACHI: BRINDEX-30 closed on the upper side on Friday at 23,093.19 points with a positive change of 180.96 and volume of 133,267,300 shares. High and Low were 23,199.84 and 22,912.23 respectively. Of 30 companies traded, 20 were up, 10 were down and 0 was unchanged. Total volume traded in the market was 228,920,690 shares. Total companies traded were 353 of ... Read More »

KSE-100 rises 313 points as investors buy bank stocks

KARACHI: The KSE-100 index on Friday extended gains from the previous session and advanced over 300 points following the announcement of much-awaited monetary policy. Bulls dominated the stock market, pushing the index above 41,100-point mark. The benchmark index shot up following the start of trading, but the momentum eased towards the end of first session. Nevertheless, the index managed to ... Read More »

KSE-100 rises ahead of SBP’s interest rate announcement

KARACHI: The stock market made a recovery on Thursday amid higher trading on investor speculation ahead of key policy rate announcement by the State Bank of Pakistan (SBP). An upbeat report by Moody’s rating agency on Pakistan’s recent mini-budget which provided support for exports and manufacturing, foreign inflows, surging global crude prices and the government’s drive to improve ease of ... Read More »

BRINEX-30 closed on upper side at 22,912.23 points on Thursday

KARACHI: BRINDEX-30 closed on the upper side on Thursday at 22,912.23 points with a positive change of 265.23 and volume of 150,750,700 shares. High and Low were 22,937.57 and 22,647 respectively. Of 30 companies traded, 26 were up, 4 were down and 0 was unchanged. Total volume traded in the market was 239,527,010 shares. Total companies traded were 372 of ... Read More »

BRINDEX-30 closed on lower side at 22,647 points with negative change

KARACHI: BRINDEX-30 closed on the lower side on Wednesday at 22,647 points with a negative change of -40.15 and volume of 67,320,700 shares. High and Low were 22,779.42 and 22,621.81 respectively. Of 30 companies traded, 9 were up, 20 were down and 1 was unchanged. Total volume traded in the market was 0 shares. Total companies traded were of which ... Read More »

Stocks gain 204 points on foreign buying

KARACHI: Stocks maintained the upward trajectory for the second day with the KSE-100 index recording gains of 204.30 points (0.51 per cent) and close at 40,624.39. Although the index touched intraday high by 228 points, the market lacked exuberance. Figures released by the National Clearing Company of Pakistan showed that the upsurge was led by foreign investors who continued to ... Read More »

BRINDEX-30 closed on upper side at 22,687.15 points

KARACHI: BRINDEX-30 closed on the upper side on Tuesday at 22,687.15 points with a positive change of 104.49 and volume of 105,582,100 shares. High and Low were 22,768.37 and 22,511.11 respectively. Of 30 companies traded, 21 were up, 9 were down and 0 was unchanged. Total volume traded in the market was 154,732,000 shares. Total companies traded were 347 of ... Read More »

KSE-100 advances despite lower volumes

KARACHI: Bullish sentiments prevailed at the stock market on first trading day of the week, with the index remaining firmly above 40,000 points for the entire session. Although investor interest remained subdued, the euphoria over the economic reforms package, announced last week, continued to drive the market. Additionally, inflows from the United Arab Emirates (UAE) and Saudi Arabia also added ... Read More »

Rupee makes significant gain against dollar in early trade

KARACHI: The Pak Rupee made significant gains against dollar in early trade on Tuesday owing to narrowing current account deficit and inflows of foreign assistance, dealers said. The rupee gained 10 paisas in the early trade in interbank foreign exchange market. The dollar is being traded at Rs138.65 in interbank foreign exchange market. The exchange rate was closed at Rs138.75 ... Read More »

Rupee appreciates against US dollar

KARACHI: The Pak Rupee appreciated by another three paisas against dollar in interbank foreign exchange market on Monday owing to inflows of foreign financial assistance. The rupee ended Rs138.75 to the dollar from last Friday’s close of Rs138.78 in interbank foreign exchange market. Pakistan received $2 billion from Saudi Arabia and UAE under financial assistance to boost the foreign exchange ... Read More »

KSE-100 climbs 958 points as foreigners turn buyers

KARACHI: It was an outstanding week for the Pakistan Stock Exchange as the benchmark index surged 958 points, or 2.44%, to settle past the 40,200 mark on back of improved sentiments. Monday kicked off on a positive note as investors continued to accumulate stocks. The optimistic sentiment continued for the following session as participants awaited the second mini-budget announcement. Expectations ... Read More »

Despite positive triggers, KSE-100 edges down 24 points

KARACHI: The stock market inched down on Friday in the wake of volatile trading, ending a week-long winning streak. The news of $1-billion deposit from the United Arab Emirates (UAE) and receipt of the last $1-billion tranche from Saudi Arabia failed to lift investor sentiments and bearish activity vastly persisted. Nevertheless, the deposits, coupled with concessions in relation to the ... Read More »

Pakistan stocks rise as investors cheer mini-budget

KARACHI: Pakistan equities cheered the Supplementary Budget to close at 40,289 points level, up 231 points. This positivity came after the government announced the second supplementary budget withdrawing critical taxes on capital markets, lifting the ban on purchase of vehicles by non-filers of income tax returns and facilitating industry, agriculture and small and medium enterprises (SMEs), said an equity analyst ... Read More »