Posted: February 7th, 2012 | Author: StockPK Team | Filed under: News | Tags: Bank Stocks, Energy, investors, Karachi Stock Exchange, KSE, Six Month High, Stocks, Trading
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The Karachi Stock Exchange’s (KSE) benchmark index closed at six month high at 12,136.92 points with an increase of 154 points, on Monday, on significant buying in leading energy and banking stocks, said dealers.
“Apparently, foreign buying helped the market sustain well above the 12,000 points coveted level,” said Imtiaz Gadar, Head of Research at KASB Securities.
The benchmark KSE 100-share index increased by 154.30 points, or 1.30 percent, to six month high of 12,136.92. This is the highest closing level since August 2, 2011.
At a point of trading, the index had surged by 229.69 points to intra-day high of 12,212.31.
Posted: February 5th, 2012 | Author: StockPK Team | Filed under: News | Tags: Financial Results, investors, Karachi Stock Exchange, KSE, Stocks, Trading
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The Karachi Stock Exchange (KSE) is expected to consolidate around 12,000 points threshold next week ahead of full-year financial results, particularly of banks and likely increase in foreign portfolio investment, dealers said on Saturday.
“Financial results would help the market maintain in the green territory next week,” said Furqan Punjani, an analyst at BMA Capital, adding that the market may consolidate around 12,000 points with an increase of 50-100 points.
At present, the leading benchmark of the KSE, the 100 index, is 17.38 points away from 12,000 points coveted level and standing at 11,982.62 points.
Posted: January 31st, 2012 | Author: StockPK Team | Filed under: News | Tags: Currency Market, Day-Trading, Karachi Stock Exchange, KSE, Rupee, Trading
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The Karachi Stock Exchange (KSE) benchmark 100-share index closed down 0.07 percent, or 8.12 points, at 11,874.89 points.
Volume fell to 60.17 million shares, compared with 67.06 million traded on Monday.
“The market closed lower… amid thin trade due to limited institutional and foreign interest,” said Ahsan Mehanti, director at Arif Habib Corp.
Fauji Fertilizer Bin Qasim shed 0.56 per cent at 46.10 rupees, and Bank Alfalah fell 1.54 per cent to 12.17 rupees.
Financial services firm Jahangir Sidiqui rose 5.28 per cent to close at 5.58 rupees, while textile company Azgard Nine gained 7.59 per cent to end at 3.40 rupees.
Posted: January 28th, 2012 | Author: StockPK Team | Filed under: News | Tags: Bullish, Karachi Stock Exchange, KSE, Market Turnover, Stocks, Trading
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The Karachi stock market managed to recover 76 points on the last trading day of the week Friday as expectations of strong corporate earnings next week triggered buying activity.
The Karachi Stock Exchange (KSE) 100-share index gained 76.30 points or 0.64 percent to close at 11,960.22 points as compared to 11,883.92 points of the previous session.
The KSE 30-share index was up by 107.59 points to close at 11,216.56 points as compared with 11,108.97 points.
Analysts said market closed in the positive zone supported by Oil and Gas Development Company (OGDC).
Posted: January 25th, 2012 | Author: StockPK Team | Filed under: News | Tags: Blue Chip, Karachi Stock Exchange, KSE, Stocks, Trading
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The Karachi Stock Exchange’s (KSE) benchmark index fell 46 points to below 12,000 points on profit-booking, mainly in fertiliser and energy stocks.
“Institutions opted to book profit in overbought stocks,” said Ahsan Mehanti, an analyst at Arif Habib Corporation, adding that the market had surged by about 1,000 points in the last few sessions.
The benchmark KSE 100-share index declined by 46.28 points, or 0.38 percent, to 11,991.38. The KSE 30-share index decreased by 39.98 points, or 0.36 percent, to 11,181.40.
Posted: January 22nd, 2012 | Author: StockPK Team | Filed under: News | Tags: Abdul Hafeez, Government, Karachi Stock Exchange, KSE, Trading
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Federal Finance Minister Dr Abdul Hafeez Shaikh says the government has decided to ease rules on capital gains tax to revive trading volumes hit by the imposition of the levy.
“We agree on proposals of the stock exchange to support activity and positive growth,” Shaikh said during his visit on Saturday to Karachi Stock Exchange (KSE). The decision applies from April 1.
KSE suggested that existing two tax bands be cut to a single flat rate, and that levy be paid after it is calculated and certified by National Clearing Company of Pakistan Ltd.
Posted: January 21st, 2012 | Author: StockPK Team | Filed under: News | Tags: investors, Karachi Stock Exchange, KSE, Stocks, Trading
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The Karachi Stock Exchange’s (KSE) benchmark index increased by 2.25 percent to a two-month high of 11,775 points on Friday as the volume surged to a three-and-a-half month high of 178 million shares ahead of finance minister’s visit to the Exchange on Saturday (today), said dealers.
“KSE invited euphoric buying after the exchange announced the visit of Finance Minister Dr Abdul Hafeez Shaikh on Saturday,” said Hasnain Asghar Ali, head of research at Aziz Fidahusein.
He added that the minister might announce relaxation for stock market investors under capital gains tax (CGT) regime.
Posted: January 19th, 2012 | Author: StockPK Team | Filed under: News | Tags: Karachi Stock Exchange, KSE, OGDCL, Oil and gas development company Limited, Trading
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Pakistani stocks ended lower on Thursday as investors booked profit in blue chip companies such as Oil and Gas Development Co Ltd (OGDCL).
The Karachi Stock Exchange’s benchmark 100-share index ended 0.28 per cent, or 32.12 points, lower at 11,515.59 points.
On Wednesday, the KSE-index ended 2.15 per cent higher at 11,547.71, its highest close since Dec 1.
Volume rose to 92.47 million shares, compared with 83.73 million shares traded on Wednesday.
“After rising by more than 500 points in last few sessions, some profit-taking was seen at Karachi Stock Exchange,” said Samar Iqbal, a dealer at Topline Securities Ltd. “OGDCL, which rallied in the last session, fell by two per cent.”
Posted: January 18th, 2012 | Author: StockPK Team | Filed under: News | Tags: Karachi Stock Exchange, KSE, OGDCL, Oil & Gas Development Company Limited, Political
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The shares market extended the weekend recovery on active follow-up support on selected counters, but the volume figure failed to expand to keep pace with increasing buying offers.
The benchmark posted a fresh rise of 98.19 points at 11,112.65 as compared to last weekend`s 11,014.46.
Proceedings of Supreme Court on NRO, notably its order directing the Prime Minister to appear in the court, triggered stray selling early, but financial support at the lower levels kept the market in a positive mood, most analysts observed.
Posted: January 17th, 2012 | Author: StockPK Team | Filed under: News | Tags: Bullish, investors, Karachi Stock Exchange, KSE, Pakistan Rupee
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Pakistani stocks rose more than 1.7 percent on Tuesday as investors capitalised on bargain prices for blue chip companies, such as Oil and Gas Development Co Ltd (OGDCL), after the market fell sharply last week, dealers said.
The Karachi Stock Exchange’s benchmark 100-share index ended 1.73 percent, or 192.51 points, higher at 11,305.16 on turnover of 53.11 million shares.
“A bullish trend was witnessed in stocks across the board at the KSE, lead by blue-chip oil and fertilizer shares,” said Ahsan Mehanti, director at Arif Habib Corp.
Last Thursday, the KSE-index ended at 10,909.12 points, its lowest close since Aug. 29.
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