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Site update: February 21 2020, at 18:00 PKST
Stock update: February 21 2020.

Recent Financial News in the 'stock-exchanges' category

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Friday, February 21 2020

Market watch: KSE-100 retreats as investors book profit
KARACHI: The stock market endured a rather muted session on Thursday as investors awaited the outcome of Financial Action Task Force’s (FATF) review of Pakistan, which would determine the country’s fate. Market participants also remained cautious over foreign capital outflow, fiscal risks and prevailing economic uncertainty, and opted to remain on the sidelines. The benchmark KSE-100 index kicked off trading on a positive note, however, the bull-run could not be sustained and the index retreated into the red zone. Trading remained choppy with the index oscillating between red and green zones but after midday the trend remained negative.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Stocks lose 93 points in range-bound trading
KARACHI: The stock market rally seen the previous day fizzled out on Thursday when the KSE-100 index fell 92.87 points (0.23 per cent) and closed at 40,481.65 as investors decided to book profit. Trading remained range-bound due to lack of positive triggers. Investors held on to cash awaiting the Financial Action Task Force’s decision before taking fresh positions as traders thought that the international anti-money laundering and terror financing watchdog would at worst let Pakistan stay in the grey list and at best ease it out into the white list. Investors remained eager to know if the decision could be expected in the evening on Thursday or over the weekend. The market opened positive and built up on the momentum of the rally seen the previous day. As trading progressed, short-term investors and punters entered into quick bouts of buying and selling which saw the index scramble itself to balance between intraday high and low by 122 and 129 points. The financial results are slowly trickling out as the season progresses.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Stock market sheds 92.87pts
ISLAMABAD - The Pakistan Stock Exchange (PSX) Thursday registered bearish trend as KSE 100-index closed at 40,481 points as compared to 40,574 points on the last working day with the negative change of 92.87 points (0.23%). A total of 83,552,650 shares were traded compared to the trade 109,559,610 shares during the previous day, whereas the value of shares traded during the day stood at Rs 3.97 billion as compared to Rs 5.78 billion during last trading day. Total 326 companies’ transacted shares in the stock market , out of which 125 recorded gain and 181 sustained losses whereas the share price of 20 companies remained unchanged. The three top traded companies were, HASCOL Petroleum Limited with a volume of 8,775,000 shares and price per share of Rs 22.47, Bank of Punjab with a volume of 8,659,500 and price per share of Rs 13.24 and DGK Cement with a volume of 8,146,000 and price per share of Rs 68.29. Saudi Pak Leasing Company Limited recorded the maximum increase in percentage of 16.67 percent to close at Rs 0.7 while First Elite Capital Mudarba was runner up with the increase of Rs 0.34 (16.11%) per share, closing at Rs 2.45.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Thursday, February 20 2020

Market watch: KSE-100 gains 400 points on FATF hopes, economic clarity
KARACHI: After a day’s correction, the benchmark KSE-100 index staged a rally and gained nearly 400 points as expectations of a positive outcome from the Financial Action Task Force’s (FATF) review of Pakistan fuelled investor optimism. Current news flow suggested that the global anti-terrorism financing watchdog would keep Pakistan in the grey list till October 2020 and thus the country would avoid blacklisting. In addition to that, positive corporate results from some major names lent support to the stock market. Earlier, the market opened with a spike and the momentum continued for the rest of the day as some clarity on the economic front, following impressive foreign direct investment (FDI) data, encouraged investors to go for fresh investment.
Related news categories: business economic-indicators misc psx stock-exchanges

Stock market up by 399 points
ISLAMABAD - The Pakistan Stock Exchange (PSX) Wednesday noted bullish trend as KSE 100 index closed at 40,574 points as compared to 40,276 points on the last working day with the positive change of 399.`7 points (0.98%).A total of 109,559,610 shares were traded compared to the trade 99,965,470 shares during the previous day, whereas the value of shares traded during the day stood at Rs 5.78 billion as compared to Rs 4.378 billion during last trading day. Total 340 companies’ transacted shares in the Stock Market today, out of which 210 recorded gain and 105 sustained losses whereas the share price of 25 companies remained unchanged. The three top traded companies were, Unity Foods Ltd with a volume of 21,639,500 shares and price per share of Rs 14.63, HASCOL with a volume of 10,083,500 and price per share of Rs 23.13 and DGK Cement with a volume of 9,509,000 and price per share of Rs 69.46. Kohinoor Power Company Limited recorded the maximum increase in percentage of 16.28 percent to close at Rs 2.00 while J.A. Textiles Mills Limited was runner up with the increase of Rs 0.55(15.67) per share, closing at Rs 4.06.
Related news categories: business economic-indicators misc psx stock-exchanges

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