Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
Last updated 2 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 gets ready for greater air traffic
KARACHI: Air travel is increasingly becoming a choice for a greater number of Pakistanis with a growing middle-income group and per-capita income changing the trend in th..
KP province, China Gezhouba Group sign pact
PESHAWAR: The Khyber Pakhtunkhwa (KP) province government has inked a Memorandum of Understanding (MoU) with China Gezhouba Group Company (CGGC) for the construction of t..
Pakistan’s merchandise exports rise 10%
KARACHI: Merchandise exports of Pakistan rose 10 per cent to $7.1 billion in the first four months of the current fiscal 2017-18, while imports also increased 23 per cent..
Islamabad approves $3b borrowing from debt markets
ISLAMABAD: The federal cabinet of Pakistan has approved immediate borrowing of up to $3 billion from international debt markets by floating three sovereign bonds and has ..
Pakistan fast adopting digital modes of payment: SBP
KARACHI: Pakistan is fast moving towards adopting digital modes of payment with the number of electronic transactions registering a 17 per cent year-on-year growth in 201..
Advertise | Copyright