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Site update: January 18 2017, at 17:45 PKST
Stock update: January 18 2017.

Recent Financial News in the 'kse' category

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Wednesday, January 18 2017

Market watch:KSE-100 takes another hit as correction continues
KARACHI: Pakistan equities closed yet another session in the red, the third in succession, as an overdue correction continued with the benchmark KSE-100 Index witnessing wild swings in a near 900-point-range. A brief positive open was followed by stocks taking a nosedive in the red, as the KSE-100 went as low as 48,116 points. At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a fall of 0.43% or 209.89 points to end at 48,678.65. Market watch: Index continues to slide, closes below 48,900 Elixir Securities, in its report, stated a brief positive open on thin volumes was quickly followed by the wider market taking a nosedive and entering the red zone as across-the-board institutional profit-taking resulted in KSE-100 Index testing support near 48,100.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Stocks continue descent amid profit-taking
KARACHI: Stocks were hammered for the third day in a row on Tuesday, with the benchmark KSE-100 index falling 209.89 points (0.43 per cent) to close at 48,678.65. The session was marked by intense volatility as the index dived down by 780 points soon after opening. Investors appeared in a high pitch of anxiety due to several factors, including uncertainty about the outcome of the Panama Papers case, flare-up in foreign selling and a directive of the Securities and Exchange Commission of Pakistan to asset management companies to keep 5pc assets in cash to cover liquidity risk. Moreover, weak investors went into panic selling, which some analyst thought was non-material or speculative in nature.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Amid foreign selling, index declines by 210 points
KARACHI - Bearish sentiments persisted at PSX on Tuesday, amid foreign selling the shares index declined by 209.89 points or (0.43%) to close at 48,678.65 level. Market opened on a shaky note, which was followed by heavy selling as the index lost to make an intraday low of 780 points. Mainly decline was seen in heavy weights such as LUCK and HBL which contributed 139 points to the index fall, brokers said. MLCF (up 2.57%) gained on the back of material information disseminated in the market that the cement manufacturer has signed a contract for procurement of equipment and engineering of a dry production clinker line of 7,300tpd. FFBL gained on the back of the news that its subsidiary Fauji Meat Limited has started its commercial operation as of Monday. An abattoir and meat processing facility has been established with a daily production capacity of 100 tons of meat (85 tons of beef and 15 tons of mutton) in frozen and chilled categories for worldwide export by the company with a total cost of around $75 million, stated analyst at JS Global.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Stocks extend losses
Pakistan Stock Exchange (PSX) Tuesday witnessed a heavy selling pressure and the benchmark KSE-100 index hit 48,108.80 points intra-day low, down 780 points. However, the index recovered in later hours on the back of fresh buying in select stocks and hit 49003.94 points intra-day high. The index closed at 48,678.65 points with a net loss of 209.89 points.Both the local and foreign investors opted to offload their holdings. Foreign investors sold shares worth $9.1 million and withdrew their holdings from the bourse. Daily trading volumes on the ready counter increased to 379.653 million shares as compared to 316.062 million shares traded Monday. The market capitalisation decreased by Rs 38 billion to stand at Rs 9.767 trillion. Out of total 415 active scrips, 272 closed in negative, 130 in positive while the value of 13 stocks remained unchanged. Sui Southern Gas Company was the volume leader with 22.577 million shares. It gained Rs 0.53 to close at Rs 39.17 followed by Faysal Bank that increased by Rs 1.23 to close at Rs 25.84 with 21.292 million shares. Aisha Steel Mills surged by Rs 0.43 to close at Rs 18.42 with 15.732 million shares.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Tuesday, January 17 2017

Market watch: Index continues to slide, closes below 48,900
KARACHI: Pakistan equities closed lower as correction continued on Monday with the benchmark KSE-100 Index ending below 49,000 on selling primarily in index names. At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a fall of 0.65% or 321.96 points to end at 48,888.54. Elixir Securities, in its report, stated a short positive open was followed by the wider market entering in the red zone as institutional profit-taking during the day in notable names across financials, oils, cements and industrials pulled KSE-100 Index lower to test support below 49,000. Market watch: Stocks witness another correction “Fertilisers, however, weathered the general downtrend and traded higher tracking positive news over the weekend that government has restored subsidy on Urea,” said analyst Faisal Bilwani.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

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