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Site update: July 13 2018, at 17:45 PKST
Stock update: July 13 2018.

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Friday, July 13 2018

Market watch: Continuing its advance, KSE-100 gains for third session in a row
KARACHI: Positive sentiments continued to prevail at the stock market on Thursday as the KSE-100 index ended its third successive session in the black. In the morning, trading kicked off on a bearish note and the index dipped over 200 points, hitting an intra-day low of 39,236. However, it faced some resistance at that point and began to pick up later. Buying interest was mainly concentrated in chemical, auto, bank, engineering and fertiliser stocks. At close, the KSE 100-share Index recorded an increase of 288.36 points or 0.73% to settle at 39,875.12. Elixir Securities’ analyst Murtaza Jafar said Pakistan equities managed to notch up gains after a shallow start. “The market opened gap down as index-heavy exploration and production stocks borne the brunt of selling following a decline in global crude prices as demand concerns grew due to US-China trade war,” Jafar said.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Tax amnesty: Investors of dollar-denominated bonds want to trade them at PSX
ISLAMABAD: Wealthy people who have stashed billions of dollars in foreign banks have placed new conditions for bringing money back, a move that may frustrate the government as it makes efforts to cushion foreign exchange reserves with the help of the offshore tax amnesty scheme. Fetching a significant portion of the hidden foreign liquid assets through dollar-denominated bonds was an important component of the ongoing tax amnesty scheme. However, prospective investors of dollar-denominated amnesty bonds have now sought permission from the government to trade bonds at the Pakistan Stock Exchange (PSX), said officials in the State Bank of Pakistan (SBP). They wanted that the government allow them to pledge these bonds with banks as collateral to take loans, the officials said.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

PSX close of day
KARACHI: BRINDEX-30 closed on the upper side on Thursday at 21,041.63 points with a positive change of 175.15 and volume of 54,254,200 shares. High and Low were 21,116.08 and 20,627.41 respectively. Of 30 companies traded, 19 were up, 10 were down and 1 was unchanged. Total volume traded in the market was 108,897,520 shares. Total companies traded were 333 of which 191 were positive, 125 were negative and 17 were unchanged. Commercial Banks was the top traded sector with total traded volume of 17,121,500 shares. It was followed by Chemicals with a total traded volume of 13,273,940 shares.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Thursday, July 12 2018

Market watch: KSE-100 ends with trimmed gains after over 600-point increase
KARACHI: The KSE-100 ended with trimmed gains on Wednesday after bulls had earlier helped the benchmark-100 share index cross the 40,000-point level for a brief period. An over 600-point increase was reduced to 134 as investors opted to book intra-day profits amid persistence of political uncertainty ahead of the general elections on July 25. At close on Wednesday, the KSE-100 finished with an increase of 133.95 points or 0.34% to settle at 39,586.76. Elixir Securities’ Murtaza Jafar said the index briefly tested the 40,000 level amid thin volumes. “Major activity was witnessed in cements and select financials while interest in the remaining key sectors remained limited likely due to sharp sell-off by foreigners on Tuesday,” said Jafar. “The volumes chart was mostly dominated by retail names. Highlight of the day was Engro Corp (ENGRO +3.38%) that closed higher after the company announced improvement in its long term credit rating from AA (Double A) to AA+ (Double A plus) by the local rating agency.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

PSX closes in green as benchmark index gains 134 points
The Pakistan Stock Exchange (PSX) managed a positive close again on Wednesday, with the benchmark KSE-100 index gaining 134 points to close at 39,587 points. After hitting a day's low of 39,209 points within the first few minutes of trading, the index peaked at 40,062 points before settling back below 40,000 points.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

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