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KARACHI – Positive sentiments have been prevailing among investors on Thursday as reflected by the Pakistan Stock Exchange (PSX) after reports emerged that the Financial Action Task Force’s (FATF) Working Group has expressed satisfaction over the country’s performance in measures implemented to curb money laundering and terror financing.
The benchmark KSE 100-share Index gained 235.68 points or 0.55 percent, and recovered to 42,796.95 points as of 11.29am. The Index opened at 42,646.20 points today.
Yesterday, the Index closed at 42,561.27 after losing 65.20 points. A total of 177,984,850 shares were traded with combined value of Rs9.289 billion.
In the previous week, the market closed at 43,167.77 points, while observing fluctuations in the whole week, and closed in a little bit of negative territory amid political uncertainty that marred the overall trading environment while kept investors’ sentiment subdued.
Earlier, the signing of a phase one trade deal between the U.S. and China to ease the ongoing trade war restored a bit of confidence among the investors. Domestic politics and rising reservations against the ruling party by its allies were also noticed by the investors.
Traders had opined that the market was still in search of a direction, which could be provided by the State Bank monetary policy and the herald of corporate results reporting season next week.
Traders were of the view that after a major run-up since August last year, the index was consolidating at the current levels before moving forward. “Early trade has been witnessing much of the volatility and the index has been fluctuating from negatives to positives and vice-versa.”
The emerging disapproval from Pakistan Tehreek-e-Insaf (PTI) allies over its policies contributed to the slow pace as the disagreements between the PTI government and its allies are being taken as a “sign of a brewing political crisis.”
Two weeks ago, the market witnessed massive overall spike in the stocks as local and foreign investors rampaged across the market to quickly hit upper circuits after the war clouds hanging over the region due to US-Iran hostilities dissipated which provided the investors the much-needed comfort to move funds from gold and money market back to risky assets that may provide higher returns.
Earlier, investors’ optimism continued as they saw the market back in the green after two earlier dismal years of negative returns.
From Aug 16, 2019 when the benchmark index had hit the pit at 28,765 points, the market has witnessed a spectacular rally that has carried it up by more than 50pc in fewer than five months.
Improvement on the external front together with stability in the Pakistani Rupee was expected to reassure foreign investors.
Meanwhile, inflationary readings are set to touch peak in January 2020 (this month) with an imminent interest rate cut to follow, domestic investors remain jubilant as well, he said.
Stocks gain as FATF expresses satisfaction over Pakistan's performance
The benchmark KSE 100-share Index gained 235.68 points or 0.55 percent by 11.29am.dunyanews.tvStocks gain as FATF expresses satisfaction over Pakistan's performance- Latest: Siasi Jasoos
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دو ہزار سے زائد ارب پتی دنیا کی 60 فیصد آبادی کے برابر دولت رکھتے ہیں، رپورٹ
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Why Some Countries Are Poor and Others Rich
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Pakistan's Middle Class Consumer Population Among World's Fastest Growing- Latest: RiazHaq
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کراچی: (دنیا نیوز) سٹاک مارکیٹ میں ایک بار پھر تیزی کا رجحان، 503 پوائنٹس اضافے کے ساتھ 17 ماہ کی بلند ترین سطح پر آ گئی۔
ایران امریکہ کشیدگی کے خاتمے کے بعد سٹاک مارکیٹ میں آج مثبت رجحان، 503 پوائنٹس اضافے کے ساتھ 100 انڈیکس 43 ہزار پوائنٹس کی حد عبور کر گیا جس سے حصص کی مالیت 70 ارب روپے سے بڑھ گئی۔
یاد رہے گزشتہ روز بھی سٹاک مارکیٹ میں زبردست تیزی دیکھی گئی، جب 1165 پوائنٹس اضافے کے ساتھ 42 ہزار کی نفسیاتی حد عبور ہوئی اور حصص کی مالیت میں 170 ارب روپے کا اضافہ دیکھا گیا۔
سٹاک مارکیٹ میں 503 پوائنٹس اضافہ، 43 ہزار کی حد عبور
کراچی: (دنیا نیوز) سٹاک مارکیٹ میں ایک بار پھر تیزی کا رجحان، 503 پوائنٹس اضافے کے ساتھ 17 ماہ کی بلند ترین سطح پر آ گئی۔urdu.dunyanews.tvسٹاک مارکیٹ میں 503 پوائنٹس اضافہ، 43 ہزار کی حد عبور- Latest: miafridi
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FBR to grill 24,000 Pakistanis for buying dollars in bulk- Latest: asifA1
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PSX bounces back as 100-Index gains 838 points
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Oil prices and U.S. stock futures whipsawed overnight after Iran fired on Iraqi bases housing U.S. troops, but markets quickly rebounded after there were no reports of casualties and President Trump addressed the nation.
The Dow climbed 200 points at midday on Wednesday after Trump’s speech on tensions with Iran. Dow futures had tumbled as much as 400 points overnight but flipped into positive territory by morning. The Standard & Poor’s 500 and tech-heavy Nasdaq also climbed 0.7 percent.
But analysts still were cautious, saying that they would not know the full scope of the rebound until after Trump’s appearance in the late morning.
In his statement, Trump said the U.S. would impose additional economic sanctions on Iran but that “the U.S. is ready to embrace peace with all who seek it.”
SOURCE: http://www.washingtonpost.com/business/2020/01/08/oil-prices-stock-futures-ricochet-after-iran-lobs-missiles-us-bases-iraqStocks rebound after Trump addresses nation on tensions with Iran- Latest: Siasi Jasoos
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کراچی: (دنیا نیوز) امریکہ ایران کشیدگی کے سبب پاکستان سٹاک مارکیٹ کا آج مندی سے آغاز ہوا، مارکیٹ میں 410 پوائنٹس کی کمی دیکھنے میں آئی۔
امریکہ اور ایران کشیدگی، ایشیائی اسٹاک مارکیٹ میں مندی کا رحجان، جاپانی اسٹاک مارکیٹ میں 280 پوائنٹس کی کمی، ہانگ کانگ 220، ممبئی 107، ملایشیین اسٹاک مارکیٹ میں 113 پوائنٹس کی کمی ہوئی۔
مندی کا رحجان پاکستان اسٹاک مارکیٹ میں بھی دیکھا گیا جس کا آغاز ہی 410 پوائنٹس کی کمی سے ہوا۔ واضح رہے کہ امریکہ اور ایران کے حالات ایسے ہی رہے تو پاکستان سمیت پورے خطے میں اسکے اثرات پڑیں گے۔
امریکہ اور ایران کشیدگی کے باعث پاکستان سمیت ایشیائی اسٹاک مارکیٹ میں مندی کا رحجان
کراچی: (دنیا نیوز) امریکہ ایران کشیدگی کے سبب پاکستان سٹاک مارکیٹ کا آج مندی سے آغاز ہوا، مارکیٹ میں 410 پوائنٹس کی کمی دیکھنے میں آئی۔urdu.dunyanews.tvامریکہ اور ایران کشیدگی کے باعث پاکستان سمیت ایشیائی اسٹاک مارکیٹ میں مندی کا رحجان- Latest: Bilal Raza
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KARACHI (92 News) – The Pakistani Stock Exchange’s (PSX) benchmark KSE-100 index registered an uptrend on Tuesday after a steep fall in the previous day.
A total of 200 million shares worth Rs9.18 billion exchanged hands during the day’s trading. The benchmark index gained 608 points, closing the day at 41,904 points.
Stocks steep run the previous day, tracking global markets as fears of a possible US-Iran showdown in the Persian Gulf set off an across-the-board panic-selling rampage that led to one of the biggest one-session losses, dealers said.
KSE-100 shares index plunged 2.43 percent or 1,027.06 points to close at 41,296.24 points on Monday, while KSE-30 slumped 2.39 percent or 464.66 points to end at 19,009.10 points level.
Slight recovery in PSX benchmark following steep fall - 92 News HD Plus
KARACHI (92 News) – The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index registered an uptrend on Tuesday after a steep fall in the previous day.92newshd.tv
اسٹاک مارکیٹ میں 608 پوائنٹس کااضافہ ہوا،،حصص کی مالیت 61 ارب روپے بڑھ گئی- Latest: Ratan
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LONDON (Reuters) – Tensions in the Middle East after the killing of a top Iranian general by the United States erased new year gains for a gauge of world shares on Monday as investors pushed safe-haven gold to a seven-year high, and oil jumped to its highest since September.
The United States detected a heightened state of alert by Iran’s missile forces, as President Donald Trump warned the US would strike back, “perhaps in a disproportionate manner”, if Iran attacked any American person or target.
Iraq’s parliament on Sunday recommended all foreign troops be ordered out of the country after the US killing of the Iranian military commander and an Iraqi militia leader in a drone strike on a convoy at Baghdad airport.
Spot gold gained 1.6% to $1,579.72 per ounce in jittery trade to reach its highest since April 2013. Oil prices extended gains on fears any Middle East conflict could disrupt global supplies. Brent crude futures rose 2.04% to $70 a barrel, while U.S. crude climbed 1.7% to $64.12.
European shares extended losses and were set for their worst day in a week, with the pan-European STOXX 600 index down 1.12% by 0838 GMT. The European oil and gas stock index .SXEP rose about 0.74% and was the sole gainer among its peers, hitting its highest since July.
“Geopolitical events by their nature are unpredictable, but previous periods of increased tensions suggest that the impact on wider markets tends to be short-lived, with more lasting effects confined to local markets,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.
“In general, this supports holding a diversified portfolio.”
BIGGEST FALL
MSCI’s All-Country World Index, which tracks shares in 47 countries, was down 0.43%, erasing all its new year gains in its biggest two-day fall since early December.
In Asia, Japan’s Nikkei .N225 slid almost 2% in a sour return from holiday, while E-Mini futures for the S&P 500 fell 0.7%. Chinese shares, which had opened in the red, reversed their losses, as did Australian shares which ended the day flat. Hong Kong’s Hang Seng index .HSI lost 0.8%.
Sovereign bonds benefited from the safety bid with yields on 10-year Treasuries US10YT=RR down at 1.7725% having fallen 10 basis points on Friday.
The yen remained the favoured safe haven among currencies thanks to Japan’s massive holdings of foreign assets. Investors assume Japanese funds would repatriate their money during a true global crisis, pushing the yen higher.
“Iran is almost certainly to respond in some scale, scope and magnitude,” said Lee Hardman, currency analyst at MUFG.
Therefore “market participants are likely to remain nervous until there is more clarity over how geopolitical tensions between the US and Iran will proceed”, Hardman said, noting that geopolitical tensions could hurt global economic growth, especially if the price of oil increases.
On Monday, the dollar was last at 107.965 yen, after falling to a three-month trough of 107.77 earlier in the session. The euro likewise eased to 120.61 yen having hit a three-week low.
The dollar was steadier against other majors, with the euro a tad firmer at $1.1172 EUR=. Against a basket of currencies, the dollar was holding at 96.839.
The risk sensitive currencies of Australia AUD=D3 and New Zealand NZD=D3 were on track for their fourth straight session of losses.
Gold, oil soar on US and Iran trade threats - 92 News HD Plus
Tensions in the Middle East after the killing of a top Iranian general by the United States erased new year gains for a gauge of world shares on Monday as investors pushed safe-haven gold to a seven-year high, and oil jumped to its highest since September -
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Hafeez Sheikh shows dissatisfaction over FBR performance
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فی تولہ سونے کی قیمت 90 ہزار 200 روپے کی بلند ترین سطح پر پہنچ گئی- Latest: Siasi Jasoos
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Money announced by UAE will be spent on small business promotion, jobs: Dr Abdul Hafeez Shaikh.
ISLAMABAD (Dunya News) – Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh thanked Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE for announcing $200 million support to Pakistan and said the money will be spent on small business promotion and jobs.
Dr Abdul Hafeez Shaikh took to Twitter and wrote, “Would like to thank HRH Sheikh Muhammed Bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces for announcing $200 Million support to Pakistan after meeting with Prime Minister Imran Khan.”
“The money will be spent on small business promotion and jobs. This support is testimony to the expanding economic relations and friendship between our countries.”
'Money announced by UAE will be spent on small business promotion, jobs'
Money announced by UAE will be spent on small business promotion, jobs: Dr Abdul Hafeez Shaikh.dunyanews.tv'Money announced by UAE will be spent on small business promotion, jobs'- Latest: Reason
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Corruption in Pakistan is not limited to politicians – The Express Tribune opinion- Latest: asifA1
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