Business
PSX index closed on a decline of 153pts
Karachi, December 31, 2019: Market traded in a narrow range throughout the session with index swinging +110 points to -199 points and closing the session at -87 points (unadjusted). Similar to yesterday, market maintained a slow pace with continued selling pressure in Banks and Oil chain. Cement sector also faced selling. Overall, the benchmark index…
Economic pressure weighed down Index
Karachi, December 31, 2019: KSE-100 index posted a return of 9.9 percent YoY during CY19 while USD-based return clocked-in at -1.4 percent. First positive return after two years of consecutive negative returns. Barring the last couple of months, CY19 was nothing short of a horror story for the equity market with a dominating bearish trend….
Pakistan Stock Exchange closed at an increase of 39pts
Karachi, December 30, 2019: During the session market went up by 447 points, however, MoC saw erosion of all the gains and Index slipping by 33 points. Selling pressure was mainly observed in Banking and E&P sectors. Trading activity was mainly tilted towards year end closing activity, which propped up price of ENGRO, LUCK, HUBC…
Inflation rate to be eased to 5pc in medium-term
Karachi, December 30, 2019: The government is doing much better than the International Monetary Fund projection with respect to most of the macroeconomic indicators including inflation rate which is expected to come down to around 5 percent in the medium term, spokesman of ministry of finance said. With regard to inflation outlook, IMF has lowered…
PSX index closed on a negative note
Karachi, December 27, 2019: Market moved both ways during the day with +162 points and -401 points, ending the session at -279 points. Month end closing met anticipated flows from institutions that created selling pressure on the bourse. O&GMCs, E&P, Power and Cement sectors remained under pressure, and even though MLCF managed to hit upper…