Bulls | Pakistan

Bulls were in control at the Pakistan Stock Exchange (PSX) on Friday as the benchmark KSE-100 index rose by more than 4,800 points with analysts attributing the rally mainly to the extension of the ceasefire between Pakistan and Afghanistan. The KSE-100 index rose by 4898.86 points, or 3.13 per cent, to close at 161,631.73 points, breaking a seven-day losing streak. Yousuf M. Farooq, director of research at Chase Securities, told Dawn.com that the market rebounded today on “reports of Pakistan–Afghanistan ceasefire talks, the end of rollover week, and renewed institutional buying after the recent correction opened up valuations”. “Focus now shifts to the International Monetary Fund (IMF) review and any revenue measures (including possible tax increases) needed to meet targets,” he said, adding that investors will also watch Monday’s trade balance data for cues on the economic outlook. “Retail investors should use equities primarily for long-term wealth creation, set asset allocation by age, liquidity needs an...

Bulls dominated the market on Thursday at the Pakistan Stock Exchange (PSX) as shares rose by more than 600 points in intraday trade. The benchmark KSE-100 index increased by 638.5, or 0.54 per cent, to close at 118,971.40 from the last close of 118,338.90. At 1:45pm, the index stood at 1,298.02 points. Samiullah Tariq, head of research and development at Pak Kuwait Investment Company Ltd, said that the market had better expectations from the budget due to which the market performed well, adding that better corporate results instilled hope. The government has delayed unveiling the federal budget from June 2 to June 10 due to inconclusive discussions with the IMF on taxation and fiscal measures. Informed sources said the visiting IMF staff mission had multiple rounds of discussion, including a wrap-up session with Finance Minister Muhammad Aurangzeb.

Bulls maintained a hold of the trading floor at the Pakistan Stock Exchange (PSX) on Tuesday as shares gained over 1,000 points, continuing their upward momentum following de-escalation between India and Pakistan. The KSE-100 index opened with a gain of 2,769 points to stand at 120,067.12 points from the previous close of 117,297.73 at 9:30am. By 3pm, the index stood at 118,605.98 points, up 1.12 per cent. Bullish momentum witnessed at the Pakistan Stock Exchange — PSX data portal Finally, the index closed at 118,575.88 points, up 1.09pc or 1278.15 points compared to yesterday. A day earlier, the PSX gained a record 9pc, with the market mirroring the restored calm in the region after the Pakistan-India ceasefire. The development, announced by US President Donald Trump on Saturday, followed four days of tit-for-tat strikes between the nuclear-armed neighbours, as well as diplomacy and pressure from Washington. Commenting on today’s surge, Awais Ashraf, director of research at AKD Securities said: “Investor sen...