Karachi stocks end week with a gain of 105 points

The Karachi stock market closed higher on the last trading day of the week Friday as investors regained their lost composure on hopes of easing of tension between the government and the army.

The Karachi Stock Exchange (KSE) 100-share index gained 105.34 points or 0.97 percent to close at 11,014.46 points as compared to 10,909.12 points of the previous session. The KSE 30-share index was up by 115.59 points to close at 10,176.24 points as compared with 10,060.65 points.

KSE index declines to five-month low

The Karachi Stock Exchange’s (KSE) benchmark 100 Index fell by another 21 points to five-month low on Thursday, mainly on speculative selling in select energy and banking stocks, as investors remained concerned over the rift among the state institutions, dealers said.

Lacklustre attitude of investors from all walks of lives kept the market ranged-bound with thin turnover, they added. The benchmark KSE-100 Index fell by 21.37 points, or 0.20 percent, to 10,909.12 points. The index remained locked in the red zone throughout the session. At a point, it fell by around 90 points to a low of 10,841 points.

Cut in interest rate bodes well for KSE as index rises 134 points

Positive sentiments prevailed in the Karachi stock market during the outgoing week after State Bank of Pakistan slashed the policy rate by 150 basis points to 12 percent propelling investors to take positions in scrips across-the-board.

The Karachi Stock Exchange (KSE) 100-share index during the outgoing week gained 134 points or 1.1 percent to close at 11,988.09 points as compared to 11,853.84 points of the previous week.

Karachi stocks close higher as index increases 17 points

The Karachi stock market closed higher on Thursday as positive remarks from the White House spokesman refusing to endorse US Admiral Mullen’s allegation that ISI is supporting the Haqqani network propelled investors to take positions.

The Karachi Stock Exchange (KSE) 100-share index gained 16.77 points or 0.14 percent to close at 11,642.46 points as compared to 11,625.69 points of the previous session. The KSE 30-share index shed 5.55 points to close at 11,133.90 points as compared with 11,139.45 points.

“After two days of upsurge of 3.2 percent the equity values stabilised,” said Topline Sec analyst Samar Iqbal. “Investors offloaded their holdings in the oil sector due to weakening international oil prices.”

Veggie prices skyrocket in Karachi

For the first time in the history of the metropolis, majority of vegetables have crossed Rs 100 mark in the largest Suzbi Mandi of the country situated along the Super Highway, Karachi posing extreme hardship on consumers of the port city.

The skyrocketing rates of vegetables consumed daily by large segment of the population was attributed by the traders to the devastation of large quantity of vegetable crops spread over a vast areas of agriculture land of Sindh as a consequence of monsoon rain.

KSE down 342 points on worsening US, Pak ties

The Karachi stock market plunged on the first trading day of the week Monday due to worsening relations between US and Pakistan as investors offloaded their holdings.

Analysts said early losses were softened as investors took advantage of the cheaper prices. The Karachi Stock Exchange (KSE) 100-share index shed a massive 341.83 points or 2.95 percent to close at 11,265.03 points as compared to 11,606.86 points of the previous trading week. The KSE 30-share index also lost 344.50 points to close at 10,751.66 points as compared with 11,096.16 points.

KSE observes bullish trading week as index gains 253 points

The Karachi stock market remained under the bullish spell during the outgoing week as lower-than-expected consumer price index (CPI) inflation for August, expectations of favourable policy announcement by State Bank of Pakistan (SBP) early next month and easing of circular debt concerns for the energy sector on government’s agreement with independent power producers (IPPs) for release of dues propelled investors to go for buying.

Analysts said strong institutional support in oversold blue chips – oil, banks and fertilizer – played a catalyst role in the bullish activity. The Karachi Stock Exchange (KSE) 100-share index gained 253 points or 2.23 percent to close at 11,606.86 points as compared to 11,353.46 points of the previous week.

KMI gains 266.43pts over healthy economic data

With inflation numbers on a downward trend, likelihood of a discount rate cut is increasing. The market is looking for positive triggers and foreign institutional support. Relaxation in policy rate in next MPS could also help bring positive activities in the market in coming days.

The Halal stocks index KMI 30 went up by 266.43 points on Tuesday to close at 20,978.47 points as against 20,712.04 points, the closing figure of the previous session.

KMI gained over the healthy economic data reported by State Bank of Pakistan that inflation stood at 11.56 percent in August against market consensus of 13.20 percent.

Low inflation for August takes KSE 166 pts higher

The Karachi stock market witnessed a bullish trading session on Tuesday as low inflation for August triggered across-the-board buying.

Analysts said Oil and Gas Development Company (OGDC) contributed the most to the rally followed by Pakistan Oilfields Limited (POL).

The Karachi Stock Exchange (KSE) 100-share index gained 166.24 points or 1.46 percent to close at 11,522.88 points as compared to 11,356.64 points of the previous session. The KSE 30-share index also increased 121.88 points to close at 11,055.55 points as compared with 10,933.67 points.

Buying in oil and power sectors lifts KSE 3 pts

Investor interest in oil and power sectors after news that the government is considering issuing bond to settle the pending circular debt issue helped the Karachi stock market to close in the green zone.

Analysts said the turnover was very thin owing to act of terrorism in the city, creating panic among investors.

The Karachi Stock Exchange (KSE) 100-share index gained 3.18 points or 0.03 percent to close at 11,356.64 points as compared to 11,353.46 points at the close of previous week. The KSE 30-share index also gained 16.92 points to close at 10,933.67 points as compared with 10,916.75 points.