![]() The move, FTSE said, was due to issues for international investors to repatriate capital.įTSE said it will update on the watch list status of Vietnam, Pakistan and Egypt as part of its equity country classification scheduled for March 2024. Vietnam will remain on the list for a possible upgrade from "frontier market" to "secondary emerging," the index provider said.įTSE had this month announced Nigeria was reclassified from frontier to unclassified, and the country dropped from equity indexes effective Sept. Pakistan's market capitalization will be assessed at the close on Dec. It was followed by Byco Petroleum with 34.6 million shares, losing Rs0.21 to close at Rs10.06 and KASB Modaraba with 17.8 million shares, gaining Rs0.41 to close at Rs3.34.įoreign institutional investors were net sellers of Rs267.9 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.NEW YORK - Global index provider FTSE Russell said on Thursday it will add Pakistan and Egypt to watch lists for possible demotion in its equity index suites.īoth countries will be on watch lists for demotion from "secondary emerging" markets, with Pakistan looking to become a "frontier market" while Egypt could be dropped to "unclassified." WorldCall Telecom was the volume leader with 36.6 million shares, losing Rs0.1 to close at Rs3.74. At the end of the day, 165 stocks closed higher, 259 declined and eight remained unchanged. The value of shares traded during the day was Rs13.9 billion. Overall trading volumes fell to 432.6 million shares compared with Monday’s tally of 450.2 million. The first index introduced in KSE was based on fifty companies and was called. Only five companies were initially listed with a total paid-up capital of 37 million rupees. “We expect range-bound activity to continue in the coming sessions due to the rollover week and recommend investors to avail any downside as an opportunity to buy in cement and textile sectors,” the analyst said. Pakistan Stock Exchange Limited (PSX) (formerly: Karachi Stock Exchange (Guarantee) Limited (KSE) was established on September 18, 1947. Total traded volume was also flat at 433 million shares. ![]() Kohinoor Textile Mills (+7.5%) closed at its upper circuit while Gul Ahmed Textile Mills (+3.8%) and Nishat Mills (+1.1%) also remained in the green. The textile sector remained particularly buoyant following strong export numbers and a positive outlook. The Pakistan Stock Exchange (fka Karachi Stock Exchange) KSE-100 Index comprises the top company from each of the 34 sectors on the PSX, in terms of market capitalization. The equity market closed the session flat at 47,687. JS Global analyst Muhammad Mubashir said that bulls managed to pull the KSE-100 to the intra-day high of +237 points before profit-taking kicked in and erased nearly all of the gains by the day’s end. A similar activity was witnessed in the textile sector.Ĭement, oil and gas marketing and exploration and production sectors faced selling, which brought prices below previous day’s closing levels, the report added. The technology sector, on the other hand, saw profit-booking after registering an uptick in the past couple of sessions. Resultantly, banking sector stocks moved up, particularly of MCB, HBL and UBL. The central bank was due to announce the monetary policy in the evening, where street consensus was about no change. In the final hour, selling pressure built up and profit-booking by investors eroded almost all the gains.Īt close, the benchmark KSE-100 index recorded an increase of 14.31 points, or 0.03%, to settle at 47,686.99.Īrif Habib Limited, in its report, stated that the market traded in a narrow range, oscillating between -56 points and +237 points. stock-market seasonality suggests a potential rally in the fourth quarter. However, the market recorded only slight movement from that point onwards. On the other hand, fertiliser, exploration and production and banking sectors outshined the overall market and closed with handsome gains.Įarlier, trading began on a bullish note, pushing the KSE-100 index closer to the 48,000-point mark in early hours. Index heavyweight automobile, cement and oil and gas marketing companies experienced modest selling amid uncertainty. At a press conference later, State Bank of Pakistan Governor Reza Baqir announced that the benchmark interest rate had been left unchanged at 7%. Investors remained cautious ahead of the monetary policy announcement after the close of trading. The benchmark index inched up 14 points with bulls and bears locking horns to gain control of the market. PHOTO: FILEĪ volatile trading session was witnessed at the Pakistan Stock Exchange on Tuesday and the KSE-100 index rose marginally as profit-booking erased most of the gains. ![]() At the end of the day, 312 stocks closed higher.
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