KSE-100 | 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...

A day after experiencing a significant downturn, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index rebounded by 7,000 points on Tuesday, recouping the previous day’s losses. Bearish sentiment had taken hold of the market on Monday, with the 100-Index plummeting 4,600 points, wiping out Rs534 billion from market capitalisation, amid rising tensions with Afghanistan, political instability in Khyber Pakhtunkhwa, and violent protests in Punjab. The market had closed at 158,443 points, lower by 4,654 points, or 2.85 per cent. Today, the KSE-100 index surged 7,032.6 points, or 4.44pc, to close at 165,476.02 points. Of 483 active scrips, 391 advanced , 69 declined while 23 remained unchanged. Yousuf M. Farooq, director of research at Chase Securities, told Dawn.com that the market had rebounded today as “tensions with Afghanistan and domestic unrest following the breakup of Tehreek-i-Labbaik Pakistan (TLP) protests had eased overnight”. “After entering a corrective phase following the trade data released o...