Market watch: KSE-100 bounces behind before prolonged holidays
Benchmark-100 share index finishes with 1,565.63-point benefit on Monday. PHOTO: FILE
KARACHI: Stocks bounced behind on Thursday from a thrust seen in prior sessions and finished a week in a immature section for a second true event before prolonged Eid holidays.
The certain activity continued given a morning and a KSE 100-share Index overwhelmed an intra-day high of over 980 points.
At tighten of trading, a benchmark KSE 100-share Index finished with a arise of 857.85 points or 1.89% to tighten during 46,332.31.
According to Elixir Securities, Pakistan equities extended gains and sealed final operative day of a week before prolonged holidays certain with a benchmark index surging 1.9% and shutting above 46,300.
“The marketplace kicked off trade on a certain note and increasing usually during a day as important index names opposite vital sectors inched upwards on healthy institutional buying. Habib Bank (HBL, +2.8%), Lucky Cement (+4.3%), Engro Corp (+3.4%), Fauji Fertilizers (+5%) and Dawood Hercules (+5%) were among tip 5 movers,” settled a report.
KSE-100 recovers amid institutional investors’ interest
Moreover, K-Electric (+2.2%) sealed aloft and dominated a volumes draft after churning out many volumes given early February.
Another prominence was Amreli Steels (+5%) that strike a top cost extent after a National Tariff Commission reliable 24% anti-dumping avocation on a import of Chinese steel billets.
The marketplace subsequent week would be guided by mixed factors including instruction of unfamiliar institutional flows and tellurian wanton opening while politics would sojourn a drag with investors closely following developments in a Panama Papers box opposite a premier’s family, a news said.
Pakistan Stock Exchange will sojourn sealed from Jun 23 to Jun 28. It will return to normal trade hours from Jun 29.
JS Global researcher Arhum Ghous pronounced a marketplace continued a certain trend as a index sealed during 46,332, adult 858 points.
Market watch: KSE-100 slumps over 1,600 points on jitters over domestic politics
All sectors contributed to a certain trend and blurb bank heavyweights cumulatively contributed +217 points to a KSE-100 index. HBL (+2.81%), United Bank (+0.97%) and MCB Bank (+1.98%) were vital contributors from a banking sector.
“Lucky Cement (+4.27%) and Nishat Mills (+5%) sealed aloft than their prior day’s tighten on a behind of news that 3 companies have perceived capitulation to set adult automobile public plants, that embody Lucky Cement, United Motors and Nishat Group,” pronounced Ghous.
Investor seductiveness was witnessed in a concrete section where Cherat Cement (+4.35%), Lucky Cement (+4.27%) and Maple Leaf Cement (+2.25%) were among a bonds that sealed in a immature zone.
“Moving forward, we suggest investors to reason long-term positions and not to take short-term positions until clarity on a domestic scenario,” he added.
Overall, trade volumes fell to 294 million shares compared with Wednesday’s total of 346 million.
Market watch: KSE-100 closes fourth uninterrupted event in a red
Shares of 383 companies were traded. At a finish of a day, 259 bonds sealed aloft and 106 declined while 18 remained unchanged. The value of shares traded during a day was Rs13.3 billion.
K-Electric was a volume personality with 68.2 million shares, gaining Rs0.15 to tighten during Rs7. It was followed by TRG Pak with 15.7 million shares, losing Rs0.65 to tighten during Rs42.07 and The Bank of Punjab (R) with 14.8 million shares, losing Rs0.01 to tighten during Rs0.05.
Foreign institutional investors were net buyers of Rs184 million during a trade session, according to information gathered by a National Clearing Company of Pakistan Limited.
Article source: https://tribune.com.pk/story/1442164/market-watch-kse-100-bounces-back-long-holidays/