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Site update: April 23 2018, at 23:15 PKST
Stock update: April 23 2018.

Recent Financial News in the 'stock-exchanges' category

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Monday, April 23 2018

Weekly review: KSE-100 plummets 813 points as sentiment remains negative
KARACHI: Bears continued to rule the stock market as the KSE-100 Index plunged 813 points or 1.8% in the outgoing week, to settle at 45,259. Uncertainty at the political front ahead of the general elections and worrying macroeconomic indicators dampened sentiments, giving an excuse for a prolonged correction and profit-booking. Lack of positive triggers also led to an overall dull week. A major sell-off in Oil and Gas Development Company (OGDC) on Monday spooked investors, which weighed down the index, with even the positive news of soaring oil prices failing to rekindle interest in the stock. However, things took a turn on Tuesday as the three-day losing streak came to an end, as cement stocks garnered investor attention. Unfortunately, the index was unable to sustain the positive trend and finished the following three sessions in the red.
Related news categories: business economic-indicators misc psx stock-exchanges

Most Asia markets fall, with tech firms hit again
With attention now turning to earnings from the Syria crisis and the China-US trade spat, a series of reports on Apple expressing doubts about iPhone sales has battered tech stocks across the world. The US giant fell more than four percent Friday, the day after a near-three percent drop that was fuelled by top smartphone chip supplier Taiwan Semiconductor Manufacturing Co. (TSMC) forecasting a plunge in sales. The drop in Apple dragged the tech-rich Nasdaq sharply down in New York, where the Dow and S&P 500 also ended in negative territory as rising US Treasury yields fan fears about a sharp rise in interest rates. The losses filtered through to Apple's Asian suppliers and other tech firms. AAC Technologies dived more than four percent in Hong Kong, TSMC shed one percent in Taipei and Alps Electric was 2.1 percent off in Tokyo, where Sharp lost almost five percent. On broader markets, Japan's Nikkei ended the morning session 0.3 percent lower, Hong Kong slipped 0.7 percent and Shanghai fell 0.4 percent. Seoul eased 0.3 percent, Wellington lost 0.1 percent and Taipei was 0.4 percent lower.
Related news categories: business misc stock-exchanges

PSX close of last day
KARACHI: BRINDEX-30 closed on the lower side on Friday at 24,615.61 points with a negative change of -135.29 and volume of 86,299,800 shares. High and Low were 24,879.53 and 24,542.87 respectively. Of 30 companies traded, 7 were up, 21 were down and 2 was unchanged. Total volume traded in the market was 144,012,960 shares. Total companies traded were 369 of which 142 were positive, 206 were negative and 21 were unchanged. Chemicals was the top traded sector with total traded volume of 41,663,480 shares. It was followed by Cement with a total traded volume of 10,694,950 shares.
Related news categories: business economic-indicators misc psx stock-exchanges

Tokyo stocks end lower
TOKYO: Tokyo stocks ended lower on Monday with tech firms down following falls on Wall Street as investors digested North Korea’s pledge to halt nuclear tests and intercontinental missile launches. The benchmark Nikkei 225 index dropped 0.33 percent or 74.20 points to close at 22,088.04 while the broader Topix index was flat, down 0.02 percent or 0.34 points at 1,750.79.
Related news categories: business misc stock-exchanges

Friday, April 20 2018

Market watch: KSE-100 recovers to end marginally negative
KARACHI: The KSE-100 recovered to end only marginally negative after a buying spree helped the index gain close to 360 points in the last hour. Selling pressure was witnessed as soon as trading began with the benchmark hitting an intra-day low of 355.88 points to inch near the 45,100 mark. Late buying, however, helped the index recover but not enough to land in the green. At close, the benchmark KSE 100-share Index recorded a decrease of 90.86 points or 0.20% to settle at 45,387.77.
Related news categories: business economic-indicators misc psx stock-exchanges

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