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Site update: April 03 2020, at 18:15 PKST
Stock update: April 03 2020.

Recent Financial News in the 'psx' category

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Friday, April 03 2020

Stocks march past 30,000-level
KARACHI: After a day of a crawl, the stock market returned to another massive upsurge that saw the KSE-100 index propel 1,277.10 points (4.33 per cent) to storm past the 30,000 level and settle at 30,782.67. Most investors were bewildered as the index opened gently in the positive but started to take big strides to the north. Including the hefty gains on Thursday, the KSE-100 Index had collected 2,759 points (9.8pc) points, the steepest three-day rise in percentage since Aug 19, 2008. Stockbrokers and traders were at a loss to provide reasons for the incredible surge in the index save for the fact that the valuations had hit exceedingly low levels after the benchmark index lost 25pc in March and sank to 12-year low.
Related news categories: business economic-indicators misc psx stock-exchanges

Thursday, April 02 2020

Market watch: KSE-100 continues to advance, gains 274 points
KARACHI: The stock market continued its advance for the second day on Wednesday as the benchmark KSE-100 index gained over 250 points but trading remained mostly range bound. Investor optimism about stability of the rupee provided some support for the market uptrend. The bourse kept swinging between red and green zones and although it largely remained positive, the nervousness was very well noted in blue chips, which came under selling pressure. Moreover, the lower headline inflation reading for March 2020, which came in at 10.24% year-on-year as compared to 12.4% last month, restored investor confidence. Furthermore, measures taken by the government to minimise the economic impact of the coronavirus outbreak played the role of a catalyst in the bullish momentum. At close, the benchmark KSE-100 index recorded an increase of 273.94 points, or 0.94%, to settle at 29,505.57. Arif Habib Limited, in its report, stated that the market remained range bound, oscillating between -330 points and +460 points during the day.
Related news categories: business economic-indicators misc psx stock-exchanges

PSX gains 273 points
ISLAMABAD - The Pakistan Stock Exchange (PSX) Wednesday continued with bullish trend for the third consecutive day as KSE 100 index closed at 29,505.57 points as compared to 29,231.63 points on the last working day with the positive change of 273.94 points (0.94 %). A total of 193,711,949 shares were traded compared to the trade 221,865,742 shares during the previous day, whereas the value of shares traded during the day stood at 6.694 billion as compared to Rs7.356 billion during last trading day.As many as 358 companies’ transacted shares in the Stock Market Tuesday, out of which 214 recorded gain and 122 sustained losses whereas the share price of 22 companies remained unchanged.
Related news categories: business economic-indicators misc psx stock-exchanges

Wednesday, April 01 2020

PSX surges 1,208 points on value buying
KARACHI: Stocks staged a massive rally on Tuesday with the KSE-100 index recovering 1,208.24 points (4.31 per cent) from the heavy losses suffered earlier in March. The index closed at 29,231.63, after hitting intraday by 1,311 points. Recovery was underpinned by attractive stock valuations; higher investor participation; recent announcements of tax relief by the government which included relief on account of custom duty, additional duties and general sales tax. Tuesday was also the day of settlement of the rollover transactions, which also passed on smoothly. Investors also took courage from the approach of April and a possible increase in temperature that many experts believe could help flatten the curve of coronavirus.
Related news categories: business economic-indicators misc psx stock-exchanges

Bullish trend continues as PSX gains 1208 points
ISLAMABAD - The Pakistan Stock Exchange (PSX) Tuesday continued with bullish trend as KSE 100-index closed at 29,231.63 points as compared to 28,023.39 points on the last working day with the positive change of 1208.24 points (4.31 %). A total of 221,865,742 shares were traded compared to the trade of 159,469,826 shares during the previous day, whereas the value of shares traded during the day stood at 7.356 billion as compared to Rs 4.225 billion during last trading day. As many as 353 companies’ transacted shares in the stock market Tuesday, out of which 288 recorded gain and 56 sustained losses whereas the share price of 09 companies remained unchanged. The three top traded companies were Hascol Petrol with a volume of 25,779,000 shares and price per share of Rs 11.65, Maple Leaf with a volume of 19,029,500 and price per share of Rs 20.72 and K-Electric Ltd with a volume of 16,823,500 and price per share of Rs 2.83. Rafhan Maize recorded maximum increase of Rs 487 per share, closing at Rs 6987 while Colgate Palm was runner up with the increase of Rs 99 per share, closing at Rs 2049. Sapphire Tex recorded maximum decrease of Rs 61.49 per share, closing at Rs 758.50 whereas prices of Sapphire Fiber decreased by Rs 46 per share closing at Rs 574.
Related news categories: business economic-indicators misc psx stock-exchanges

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