stock alerts
stock screener
search stocks using your criteria

Site News

Main features: company information, stock markets, stock filters, intraday charts, alerts, portfolio, customized searches (details)
Site update: January 22 2018, at 16:00 PKST
Stock update: January 19 2018.

Recent Financial News in the 'stock-exchanges' category

Login or sign up to search news items.


Monday, January 22 2018

Weekly review: Foreigners net buyers of $33m as KSE-100 increases 1,244 points
KARACHI: A bullish wave engulfed Pakistan’s stock market as the KSE-100 Index ended positive in four of the five sessions during the week with foreigners continuing to be net buyers. Aggressive buying, with foreign investors turning out to be net buyers of $33 million, pushed the benchmark index up 1,244 points or 2.9% to close at 44,178.83. The KSE-100 remained choppy at the start of the week as investors were jittery on account of protest planned by the joint opposition parties to pressure the ruling government. However, a rather underwhelming show revived investor sentiment, resulting in a strong rally later. Prime Minister Shahid Khaqan Abbasi’s announcement that premature dissolution of any provincial assembly would not affect the Senate election helped allay concerns as well. Participants were further encouraged by expectations of a hike in interest rate and WTI crude oil trading around $64/bbl.
Related news categories: business economic-indicators misc psx stock-exchanges

Dawood Hercules to inject Rs17.45b in Edotco Pakistan
KARACHI: The board of directors at Dawood Hercules has given its go-ahead to investing Rs17.45 billion in Malaysian firm, Edotco Pakistan, which recently acquired Jazz communication towers across the country, according to a notice sent to the stock exchange on Friday. “Dawood Hercules Corporation is in the process of injecting up to a cumulative amount of Rs17.45 billion in Edotco Pakistan in the form of equity and/or a short term loan,” company secretary Shafiq Ahmed said in the notification to the Pakistan Stock Exchange (PSX). Dawood Hercules’ share price increased 2% to RsRs120.02 with 84,400 shares changing hands on Friday.
Related news categories: business chemical company-news economic-indicators fertilizers misc psx stock-exchanges
Related symbols: dawh (news stock)

Stocks hit four-month high on aggressive foreign buying
KARACHI: With opposition protests ahead, bulls started on a cautious note in the outgoing week but they started to charge relentlessly as the worst fears of a political mayhem did not materialise. The KSE-100 index bounced back to cross the 44,000 barrier after four months. It settled at 44,179 recording gains of 1,244 points (2.9 per cent) for the week. The spectacular rally was an extension of the preceding week when the benchmark had snapped up 410 points (0.98pc). Since Jan 1, the index has made stellar gains of 3,707 points (9.2pc) with 11 out of 15 trading sessions closing in deep green. Aggressive foreign buying was at the heart of the relentless bull run. In the last 15 trading days, foreign fund managers have cherry picked mainly blue-chips worth $82.5 million, putting the April 2014 heavy foreign portfolio in the shade. “Foreign buying (FIPI) is gaining traction post Pak Rupee devaluation”, say analysts at Topline Securities.
Related news categories: business economic-indicators misc psx stock-exchanges

Aggressive foreign buying helps PSX index gain 2.9pc
LAHORE - Bullish sentiments prevailed during the week at the local bourse, with the KSE-100 index closing 2.9 percent WoW (week on week) higher at 44,179 points. Political news remained at the forefront, however protest rally held during the week failed to create any major impact, which calmed investors' nerves, resulting in positive sentiments at the bourse in subsequent sessions. Volumes and total value traded remained modest, ending down 33 percent WoW (184m shares/day) and 28 percent WoW ($80mn/day), respectively. Foreigners were key net buyers during the week with net buying of $31.5m (with Friday witnessing net buying for 17th consecutive day), whereas local Mutual Funds were net sellers of $12.1m. On a sector-wise basis, Cements (+6.1 percent WoW), textiles (+1.2 percent WoW) and fertilizers (+3.1 percent WoW) were key outperformers. Experts said that aggressive foreign institutional buying helped market climb by 2.9 percent /1,244pts this week. Foreign buying (FIPI) is gaining traction post Pak rupee devaluation. FIPI MTD cumulative buying has clocked in at $82.5m surpassing the foreign flows last seen back in April 2014.
Related news categories: business economic-indicators misc psx stock-exchanges

PSX, BRIndex-30 update
KARACHI: Friday 19, January 2018 until 17:32, BRIndex 30 was at 24,464.55 with a positive change of 348.45 and volume of 134,720,200 shares. High and low were 24,536.61 and 24,179.31 respectively. Total volume traded in the market was 209,472,080 shares with 30 total traded companies out of which 27 were up. 3 were down and 0 were unchanged. Cement was the top traded sector with total traded volume of 33,922,150 shares. It was followed by Technology and Communication with a total traded volume of 22,245,500 shares.
Related news categories: business economic-indicators misc psx stock-exchanges

pkfinance.info helpline: +92-42-3631-4186 (10:30am to 5:30pm)