Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 3 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Bullish trend continues at PSX, index up 209.94 points
November 09, 2017
 Print    Send to Friend

KARACHI: Bullish trend prevailed at the Pakistan Stock Exchange (PSX) on Wednesday to take the benchmark KSE-100 Index up 209.94 points or 0.51 per cent to close at 41,259.16 points.

The index touched the day’s high of 41,293.80 points and low of 40,970.62 points. Weak global cues did not hinter the positive spirits.

Stocks closed sharply higher led by scrips across the board amid investor expectations of a package for stock market.

On Tuesday, the index closed at 41,049.22 points with a gain of 18.45 points.

Stocks closed bullish in the post earnings season rally at PSX as investors weigh on oil, banking and cement stocks amid higher global crude prices, rising local cement prices and higher regulatory duties on luxury auto imports. Foreign inflows, upbeat CPI Inflation data for October 2017 and investor interest on renewed foreign inflows.

However, Pakistan stock market took investors on a roller coaster ride in the last week and after dramatic twists and turns, the KSE-100 index finally closed the week almost flat with a slight drop of 41 points but above the 41,000 levels at 41,064 points.

Political upheavals, foreign investors’ outlook to equities and oil prices were major factors that determined the market direction last week. Trading week started on a negative note, exhibiting an extension of the previous week’s equity meltdown.

Agencies

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
Pakistan’s auto sales fall 6.4% in current fiscal year’s first two months
Islamabad: Pakistan’s auto sector sales contracted for the first time since the fiscal year of 2014-15 (excluding taxi scheme) during the first two months of the fiscal y..
Pakistan to focus on economic issues to boost production
ISLAMABAD: Islamabad Chamber of Small Traders termed success of PTI in the general elections is a refreshing breeze as the welfare of the poor has been made primary econo..
USAID, Pakistan to boost agri-technology businesses
ISLAMABAD: USAID and the Pakistan Ministry of National Food Security and Research launched Pakistan Agricultural Technology Transfer Activity. Partnering with roughly..
Pakistan and Uzbekistan to enhance bilateral relations
QINGDAO: President of Pakistan Mamnoon Hussain met President of Uzbekistan Shavkat Mirziyoyev today at Qingdao China. President Mamnoon surveyed historical bilateral c..
SECP notifies regulations for non-profit associations
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has notified the Associations with Charitable and Not for Profit Objects Regulations, 2018. The r..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright