Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
Last updated 4 hours, 13 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
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.


Add this page to your favorite Social Bookmarking websites
Post a comment
Related Stories
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..
Minister for energy in Pak visits Petroleum Division
ISLAMABAD: The Minister for Energy Syed Ali Zafar visited the Petroleum Division, and held meetings with senior officials of the Division. A comprehensive briefing wa..
Gwadar soon to become an ideal economic zone
GWADAR: For over a decade, Pakistani officials have dreamed of transforming the strategically located fishing port of Gwadar into an ideal duty-free port and free economi..
Pakistan sets growth target at 6.2% for 2018-19
ISLAMABAD: Government of Pakistan set 6.2 per cent as growth target for the next fiscal year of 2018/19, while approving the annual macroeconomic framework, betting on th..
Advertise | Copyright