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Site update: September 22 2017, at 18:00 PKST
Stock update: September 22 2017.

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Friday, September 22 2017

Market watch: Winning streak ends as stocks fall prey to political instability
KARACHI: The continuing political noise dampened investors’ interest on Thursday, ending a seven-day winning streak, after an accountability court issued arrest warrants for Finance Minister Ishaq Dar and ordered the Punjab government to release judicial report of the Model Town incident. The KSE-100 index started to retreat right from the opening session and fell below 43,000 points around midday, despite a brief recovery. At close, the benchmark KSE 100-share Index recorded a fall of 571.99 points or 1.32% to stand at 42,775.04.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

TPL Direct Insurance Limited is now TPL Insurance Limited
KARACHI: TPL Direct Insurance Limited has announced a change in its corporate identity. TPL Direct Insurance Limited will now be TPL Insurance Limited, with its commitment to provide continuous improvements in all its processes and to become the top general insurance solutions provider in Pakistan. The new corporate identity unifies the company’s operations under a set of common corporate values, goals and commitments. It also signifies the expansion into commercial lines business of general insurance, with the same commitment of best customer services.
Related news categories: business company-news economic-indicators insurance ise kse lse misc psx stock-exchanges
Related symbols: tdil (news stock)

Bears make a comeback as KSE-100 index loses 572 points
The Pakistan Stock Exchange (PSX) landed in the red on Thursday after consecutive sessions in the green, with the benchmark KSE-100 Index losing 572 points, or 1.32 per cent, to fall below the 42,800-mark. The index hit a day's high of 43,387 points before sliding in the later hours to a low of 42,706 before closing at 42,775. Of the 380 symbols traded in the session, 94 advanced, 253 declined and 33 remained unchanged. "Domestic political noise mainly triggered anxiety among investors as courts not only froze assets and issued arrest warrants against Finance Minister Ishaq Dar but also ordered Punjab government to make judicial report of Model Town incident public," analyst note by Elixir Securities said.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Political uncertainty sends PSX back into red zone
KARACHI - Political uncertainty pushed the Pakistan Stock Exchange (PSX) back into the red zone on Thursday as the benchmark KSE 100-index lost 572 points and closed at 42,775 points. Market index closed 1.32% lower than the previous day’s closing as Lahore High Court (LHC) ordered government to release inquiry report of Model Town incident in Lahore. This does not bode well for the ruling party as it is already facing National Accountability Court (NAB) cases against alleged corruption, observed analyst at Topline Securities. Investors participation also contracted during the day as trading volumes were down 26% whereas value was down 27%. Top 5 index point contributors to index decline were HBL (down 2%), MCB (3%), ENGRO (2.4%), UBL (1.5%) & NBP (3.9%), deducting 202 points from index while KEL (up 1 3%) BAFL (0 5%) NRL (0 6%) SNBL (2 2%) & PSMC (0 6%) added 12 points to the index.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

PSX close of day
KARACHI: BRINDEX-30 closed on the lower side on Thursday at 23,097.07 points with a negative change of -144.13 and volume of 97,803,400 shares. High and Low were 23,523.22 and 23,055.81 respectively. Of 30 companies traded, 8 were up, 21 were down and 1 was unchanged. Total volume traded in the market was 165,709,260 shares. Total companies traded were 402 of which 90 were positive, 279 were negative and 33 were unchanged. Technology and Communication was the top traded sector with total traded volume of 18,858,500 shares. It was followed by Power Generation and Distribution with a total traded volume of 15,087,500 shares.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

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