According to Bloomberg data, Pakistan’s rating index, KSE-100, was the second-best performer in the world and gained 47% since reaching the lowest level this year on March 25. Stocks suffered all the losses caused by a coronavirus.
The stock market showed excellent performance in the first month of FY21 with a local rating meeting closed at 39,258 points, with 4,837 points, and translates into a return of 14.05% MoM (USD-based return of 14.78% MoM) on July 20, according to a report by -Arif Habib Ltd. This was the best month of July for 17 years (last peaked in 2003).
Shipping on KSE-100 indicators is pleased with the S.B.P. (625 bps total) cut-off which also brought equity to the forefront as a preferred asset class while improving COVID-19 infection and recovery rates, PKR-USD parity intensity between of financial support in international institutions, the extinction of coronavirus caused by the closure and restoration of pre-travel market times, economic benefits and investment in the market, says the report.
Appropriate reference contributions in July are led by Commercial Banks, Cement E&P, and Fertilizer.
P.S.X. Witnesses reduce the amount of Rs. 25.7 Billion
The Bulls continued their dominance on the Pakistan Stock Exchange today at the end of the day when the KSE-100 benchmark index reached 613 points or 1.56% to close with 39,871 points on the first working day of August.
A.A.H. Soomro, chief of staff at Khadim Ali Shah Bukhari Security, told ProPakistani,
Low-interest rates, FATF billing methods, low infection rates, and improved tax collection keep bulls happy. However, expect a correction. The Rally has never been.
P.S.X. Saw sales for Rs. 25.7 billion, which is the highest of the 728 trade, last seen on June 1, 2017. While the stock increased 1.56% today with the highest value in more than three years to 663 million shares, including 125 million shares, reported by Arif Habib Ltd.
The main sectors of interest for investors were Cement, Metal, Autos, Refineries, and the banking sector. Of all the 539 million shares traded today (Except for the Future). Of the 372 paintings on sale today, 244 developed, 112 rejected, and 16 remained unchanged.
Providers Higher Points for KSE-100
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