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Site update: July 22 2019, at 17:00 PKST
Stock update: July 22 2019.

Recent Financial News in the 'stock-exchanges' category

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Monday, July 22 2019

Weekly review: Bears dominate as selling pressure persists
KARACHI: Bears dominated the stock market during the week ended on July 19 as persistent selling pressure dragged the benchmark index down by 1,214 points or 3.6%, which closed at 32,458.77 points – below the 32,500 mark. The week was marred by developments on the political and economic fronts, which kept investors cautious. Monday began on a negative note as the market plunged massively on expectations of further tightening of the monetary policy. Speculation of a hefty hike and further depreciation of the rupee made the investors wary. On the other hand, a World Bank arbitration court asked Pakistan to pay $5.8 billion in damages to Tethyan Copper Company in the Reko Diq case. This development added pressure to the already weakening equity market.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Friday, July 19 2019

Market watch: KSE-100 falls 672 points over political uncertainty
KARACHI: After posting gains in the past two trading sessions, bears returned to the stock market once again and pushed it down by 672 points on Thursday because of worries about expected hike in power tariff. The arrest of former prime minister Shahid Khaqan Abbasi in liquefied natural gas (LNG) import case during the day also contributed to the decline. After a brief open in the positive zone, the KSE-100 index fell victim to selling pressure as investors offloaded stocks due to economic and political uncertainty. The market fell steadily till midday, however, following the arrest of Abbasi, the bourse dived and extended losses.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

PIA set to kick off direct flights to US
KARACHI: Amid a marked improvement in the relationship between Pakistan and the US, ahead of Prime Minister Imran Khan’s visit to Washington next week, Islamabad has geared up to take direct flights to New York for the first time in the country’s history. “US security officials visited the Islamabad airport and expressed concern over direct flights to the US, which has been addressed,” revealed Federal Minister for Aviation Ghulam Sarwar Khan at a press conference at the SQMS Auditorium, Pakistan Civil Aviation Authority (PCAA) headquarters on Thursday. “Flights are expected to begin after the upcoming prime minister’s visit to the US,” he said.
Related news categories: business company-news economic-indicators ise kse lse misc psx stock-exchanges transport
Related symbols: piaa (news stock)

Stocks plunge 672 points on economic concerns
KARACHI: The stock market suffered another bout of intense selling pressure on Thursday with the KSE-100 index going into a tail spin to tank by 672.45 points (2.04 per cent) and close at 32,309.54. The ghosts of investors’ suspicion on the end to State Bank of Pakistan monetary tightening; International Monetary Fund conditions for the bailout and economic worries came to haunt them as they decided to quit the market for safer investment avenues. To all of that was added the mounting political risk after the National Accountability Bureau picked up key opposition leader over corruption charges. Market stayed positive in early trade with the index making intraday high by 32 points, but soon succumbed to selling pressure that pulled it down to intraday low by 758 points. Selling was observed across the board, but most market observers said that it was triggered by significant volume in Habib Bank.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

PSX sheds 672 points
ISLAMABAD - The Pakistan Stock Exchange (PSX) remained bearish on Thursday as KSE 100 index lost 672.45 points to close at 32,309.54 points. A total of 71,672.300 shares were traded, whereas the value of shares traded during the day stood at Rs 3.6 billion. Out of 299 companies, share prices of 31 companies recorded increase while 250 companies registered decrease whereas 18 companies remained stable in today’s trading. The three top active companies were TRG Pakistan with a volume of 8,586,500 shares and its price per share witnessed a decrease of Rs 0.97 (7.1%) traded at Rs 12.67 followed by KEL with a volume of 7,348,000 and its price per share decreased by Rs 0.17 to Rs 3.54 and HBL with a volume of 4,648,200 and its price per share also decreased by Rs 3.27 to Rs 118.34.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

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