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Site update: January 22 2018, at 16:00 PKST
Stock update: January 19 2018.

Recent Financial News in the 'kse' category

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Tuesday, January 02 2018

PSX ends as world’s worst market in 2017
KARACHI: If you were a stock market investor or fund manager vested in Pakistan’s stock market in 2017, you would be glad the year is over today. While there are no promises that this year would be better, one is inclined to believe the worst is behind us. The Pakistan Stock Exchange’s (PSX) KSE-100 – a benchmark for market performance – was Asia’s top-performing index in 2016, much to the delight of thousands of investors who thought the golden run would continue. After close to 45% return in dollar terms for the average investor in the previous year, fresh money poured in.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Market watch: Stocks kick off 2018 with positive finish
KARACHI: The stock market continued its winning streak for the eighth consecutive session, ending the first day of the year on a positive note. The KSE-100 index witnessed directionless trading in the early hours due to a bank holiday. Volumes also remained thin as investors remained on the sidelines. However, late buying helped the index surge to an intraday high of 40,800 points. At the end of trading, the benchmark KSE 100-share Index registered an increase of 239.56 points or 0.59% to settle at 40,711.04.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

PSX opens 2018 higher as KSE-100 Index gains 240 points
The Pakistan Stock Exchange (PSX) opened the year on a positive note, with the benchmark KSE-100 index gaining 240 points to close at 40,711. The index opened lower to hit a day's low of 40,170 before climbing to a high of 40,816 before the close of trading. In all, 118.4 million shares worth Rs4.5 billion changed hands in the session. Of the 329 traded scrips, 170 advanced, 136 declined and 23 remained unchanged. The engineering sector dominated trading with 20m shares traded, while the technology and communication sector followed with 19.2m shares traded.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

PSX witnesses bull-run on first day of 2018
KARACHI - Pakistan Stock Exchange (PSX) Monday greeted 2018 on a positive note as the 100-share index closed up by 239 points. Market initially made an intra-day low of 302 points, however during the second half of the day the index recovered to make an intra-day high of 344 points and finally closed at 40,711 points. Interest in heavy-weight stocks including HBL (up 4.12%), ENGRO (2.02%), UBL (1.11%), LUCK (1.07%) and DGKC (1.96%) cumulatively contributed 186 points to the index gain. CPI numbers were announced yesterday that clocked in at 4.57% YoY for Dec-2017 vs 3.97% YoY in Nov-2017, creating excitement in the banking sector. HBL (up 4.12%), BAFL (2.31%), BAHL (3.17%) and UBL (1.11%) closed in the green. In other news, ECC allowed export of 35,000 metric tons of urea to Sri Lanka in addition to extension in the date for export of 41,000 metric tons of urea. Engineering sector gained investors’ interest as DSL (up 9.74%) gained to close higher than its previous day close on the back of material information released that the company has conducted successful trial production with start of commercial production likely by the end of Jan-2018, commented analyst at JS Global.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Rupee devaluation: Suzuki Motor raises vehicles prices
LAHORE - The Suzuki Motor Company has raised the prices of some of its variants, effective from the January 1, 2018, by Rs10,000 to Rs20,000. According to the company, the prices of Bolan and Ravi have been increased by Rs10,000, Mehran VX and VXR by Rs10,000 (CNG variants prices unchanged), while prices of Wagon-R VXR and VXL have been hiked by Rs20,000. The move was widely anticipated due to the recent Pak rupee devaluation against the US$, which would push up costs of raw materials for auto assemblers. To recall, one of the PSMC's competitors, Indus Motor Company (INDU) had recently increased prices of some of its Corolla variants in response to the Pak Rupee devaluation . Indus Motor Company had increased prices of 1,300-1,600cc cars by Rs50,000-60,000 in Dec. The new price of Toyota Corolla XLi, and GLi is Rs1.81 million and Rs1.94m compared to Rs1.75m and Rs1.88m respectively. The new price of 1.6 Altis has been jacked up to Rs2.19m from Rs2.14m.
Related news categories: auto-assembler business company-news economic-indicators ise kse lse misc psx stock-exchanges
Related symbols: psmc (news stock)

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