Latest news with #OMCs
Business Recorder
2 days ago
- Business
- Business Recorder
PSX opens on a positive note, gains over 1,600 points
After declining in the previous session, positive sentiments returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 1,600 points during trading on Tuesday. At 12:45pm, the benchmark KSE-100 was hovering at 139,836.63 level, an increase of 1,619.05 points or 1.17%. Buying was observed in key sectors including commercial banks, cement, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including MARI, OGDC, PPL, POL, PSO, SNGPL, HUBCO, MCB and MEBL traded in the green. On Monday, PSX opened the new week on a volatile note. The downturn was largely attributed to investor profit-taking ahead of July's end and cautious sentiment following a record-breaking run. The benchmark KSE-100 Index declined by 379.78 points, or 0.27%, to close at 138,217.58 points. Internationally, Asian share markets held their ground near a four-year peak on Tuesday, buoyed by Wall Street's closing record high ahead of a slate of corporate earnings. At the same time, investors took stock of tariff negotiations between the US and its trading partners. Japanese shares briefly jumped at the open before trading modestly higher, while bonds had a muted reaction as the election results were largely priced in and were not as bad as investors had feared. The yen rallied 1% on Monday, recouping some of the losses from past weeks and was last little changed at 147.46 per dollar on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan hit its highest level since October 2021 in early Asian hours but was last little changed. The index is up nearly 16% this year. Overnight, the S&P 500 and the Nasdaq notched record-high closes on Monday, lifted by Alphabet and other megacaps ahead of a burst of earnings reports this week. Investor focus has been on tariff negotiations ahead of the August 1 deadline with the European Union exploring a broader set of possible countermeasures against the United States a This is an intra-day update
Business Recorder
2 days ago
- Business
- Business Recorder
PSX opens on a positive note, gains nearly 1,300 points
After declining in the previous session, positive sentiments returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 1,300 points during the opening hours of trading on Tuesday. At 12pm, the benchmark KSE-100 was hovering at 139,497.18 level, an increase of 1,279.60 points or 0.93%. Buying was observed in key sectors including commercial banks, cement, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including MARI, OGDC, PPL, POL, PSO, SNGPL, HUBCO, MCB and MEBL traded in the green. On Monday, PSX opened the new week on a volatile note. The downturn was largely attributed to investor profit-taking ahead of July's end and cautious sentiment following a record-breaking run. The benchmark KSE-100 Index declined by 379.78 points, or 0.27%, to close at 138,217.58 points. Internationally, Asian share markets held their ground near a four-year peak on Tuesday, buoyed by Wall Street's closing record high ahead of a slate of corporate earnings. At the same time, investors took stock of tariff negotiations between the US and its trading partners. Japanese shares briefly jumped at the open before trading modestly higher, while bonds had a muted reaction as the election results were largely priced in and were not as bad as investors had feared. The yen rallied 1% on Monday, recouping some of the losses from past weeks and was last little changed at 147.46 per dollar on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan hit its highest level since October 2021 in early Asian hours but was last little changed. The index is up nearly 16% this year. Overnight, the S&P 500 and the Nasdaq notched record-high closes on Monday, lifted by Alphabet and other megacaps ahead of a burst of earnings reports this week. Investor focus has been on tariff negotiations ahead of the August 1 deadline with the European Union exploring a broader set of possible countermeasures against the United States a This is an intra-day update
Business Recorder
2 days ago
- Business
- Business Recorder
PSX opens on a positive note, gains over 1,100 points
After declining in the previous session, positive sentiments returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 1,100 points during the opening hours of trading on Tuesday. At 11:05am, the benchmark KSE-100 was hovering at 139,377.30 level, an increase of 1,159.72 points or 0.84%. Buying was observed in key sectors including commercial banks, cement, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including MARI, OGDC, PPL, POL, PSO, SNGPL, HUBCO, MCB and MEBL traded in the green. On Monday, PSX opened the new week on a volatile note. The downturn was largely attributed to investor profit-taking ahead of July's end and cautious sentiment following a record-breaking run. The benchmark KSE-100 Index declined by 379.78 points, or 0.27%, to close at 138,217.58 points. Internationally, Asian share markets held their ground near a four-year peak on Tuesday, buoyed by Wall Street's closing record high ahead of a slate of corporate earnings. At the same time, investors took stock of tariff negotiations between the US and its trading partners. Japanese shares briefly jumped at the open before trading modestly higher, while bonds had a muted reaction as the election results were largely priced in and were not as bad as investors had feared. The yen rallied 1% on Monday, recouping some of the losses from past weeks and was last little changed at 147.46 per dollar on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan hit its highest level since October 2021 in early Asian hours but was last little changed. The index is up nearly 16% this year. Overnight, the S&P 500 and the Nasdaq notched record-high closes on Monday, lifted by Alphabet and other megacaps ahead of a burst of earnings reports this week. Investor focus has been on tariff negotiations ahead of the August 1 deadline with the European Union exploring a broader set of possible countermeasures against the United States a This is an intra-day update
Business Recorder
2 days ago
- Business
- Business Recorder
PSX opens on a positive note, gains over 500 points
After declining in the previous session, positive sentiments returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 500 points during the opening minutes of trading on Tuesday. At 9:40am, the benchmark KSE-100 was hovering at 138,763.05 level, an increase of 545.47 points or 0.39%. Buying was observed in key sectors including commercial banks, cement, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks including MARI, OGDC, PPL, POL, PSO, SNGPL, HUBCO, MCB and MEBL traded in the green. On Monday, PSX opened the new week on a volatile note. The downturn was largely attributed to investor profit-taking ahead of July's end and cautious sentiment following a record-breaking run. The benchmark KSE-100 Index declined by 379.78 points, or 0.27%, to close at 138,217.58 points. Internationally, Asian share markets held their ground near a four-year peak on Tuesday, buoyed by Wall Street's closing record high ahead of a slate of corporate earnings. At the same time, investors took stock of tariff negotiations between the US and its trading partners. Japanese shares briefly jumped at the open before trading modestly higher, while bonds had a muted reaction as the election results were largely priced in and were not as bad as investors had feared. The yen rallied 1% on Monday, recouping some of the losses from past weeks and was last little changed at 147.46 per dollar on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan hit its highest level since October 2021 in early Asian hours but was last little changed. The index is up nearly 16% this year. Overnight, the S&P 500 and the Nasdaq notched record-high closes on Monday, lifted by Alphabet and other megacaps ahead of a burst of earnings reports this week. Investor focus has been on tariff negotiations ahead of the August 1 deadline with the European Union exploring a broader set of possible countermeasures against the United States a This is an intra-day update
Business Recorder
3 days ago
- Business
- Business Recorder
Stocks surge, KSE-100 gains over 500 points
Positive sentiments returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 500 points during the opening hours of trading on Monday. At 10:10am, the benchmark index was hovering at 139,101.66 level, an increase of 504.30 points or 0.36%. Buying was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs and fertilizer. Index-heavy stocks, including EFERT, MCB, MEBL, NBP, PPL, and POL, are traded in green. During the previous week, the Pakistan Stock Exchange (PSX) closed on a historic high, buoyed by a blend of investor optimism, strong macroeconomic data, and anticipation of robust corporate earnings. The benchmark KSE-100 Index surged to an all-time closing level of 138,597 points, marking a weekly gain of 3.2%, or 4,297 points—the highest ever in its trading history. Analysts noted that the sentiment on the trading floor was distinctly optimistic, despite foreign institutional selling and the usual summer lull in investor activity. Internationally, Asian shares and the yen held their ground on Monday as Japanese elections proved bad for the government but no worse than already priced in, while Wall Street futures braced for earnings from the first of the tech giants. Investors were also hoping for some progress in trade talks ahead of President Donald Trump's August 1 tariff deadline, with US Commerce Secretary Howard Lutnick still confident a deal could be reached with the European Union. There were reports Trump and Chinese leader Xi Jinping were closer to arranging a meeting, though likely not until October at the earliest. In Japan, the ruling coalition lost control of the upper house in an election on Sunday, further weakening Prime Minister Shigeru Ishiba's grip on power as a tariff deadline looms. Ishiba expressed his intention to stay in the position, which along with a market holiday, limited the reaction and the yen was 0.4% firmer at 148.29 to the dollar. This is an intra-day update
