Karachi, May 12, 2020: Market went positive on the prospect of rate cut for which SBP will be taking decision by end of week, besides the Govt’.s stance on construction of Dams that is likely to generate demand for Cement and Steel. Resultantly, Cement and Steel sectors ruled the index, mostly trading near upper circuits…
Karachi, April 07, 2020: The Pakistan Stock Exchange (PSX) closed green on the second trading day of the week as it was closed lower on first day. Market opened on a positive note with +75 points and 0.8 million shares traded at the opening bell. The index continued the surge throughout the session, increasing by…
Karachi, March 31, 2020: Market opened on a positive note today with 62 points and did not see back since then. The ascent continued till 1311 points in the benchmark index and closed the session +1242 points (unadjusted). The overriding factor that helped investors take a positive view on the market seems to be weakening…
Karachi, March 10, 2020: Market rebounded today erasing most of the losses sustained yesterday. Market opened on a positive note today with +145 points, however, dipped again and lost 145 points (intra-day). Oil & gas stocks kept the selling pressure on, due to low oil prices that maintained a plateau of ~U$34/bbl. Interestingly, both OGDC…
Karachi, March 09, 2020: Market witnessed bloodbath situation, which was triggered by the crashing of oil price from US$45/bbl on Friday’s opening to US$ 28/bbl today (a staggering 62 percent decline). Resultantly, oil stocks hit lower circuit breakers, with OGDC and PPL showing offers of 16 million and 13 million throughout the day. Similar situation…