JH Investments | Realtime Financial News and Analysis

  The Pakistan Stock Exchange (PSX) faced intensified selling pressure on Tuesday as the benchmark index fell above 2,300 points. Exchange was flat 10 minutes after the opening bell, according to the PSX website. At 10:49 am, the market began a gradual decline, with the KSE-100 index falling by 1,186.19 points to 64,018.48 points from 65,204.67 previously. The index closed at 62,833.03, still down 2,371.6 points, down 3.64 percentage points from Monday. A day earlier, the benchmark index fell 925.35 points after investors took profits. Stocks in the mining and manufacturing, fertilizer and banking sectors had a negative impact. Head of JH Investments, Junaid Zaveri, said: "The market has not been affected by the recession, the situation in Pakistan is improving, the market has entered an overbought situation, the index has also risen significantly, due to which a correction is needed." Mohammed Sohail, managing director of Topline Securities, echoed similar sentiments about t...

The Pakistan Stock Exchange (PSX) saw a phenomenal rise of nearly 17 percent in November 2023 and the highest foreign investment in six years at $3.5 million, indicating strong investor confidence in the country's economic recovery. On a percentage basis, this was the highest monthly return in more than a decade, second only to the abnormal return of Covid in April 2020. Pakistan's stock market rally was a key factor in the benchmark's 50 percent rise since late June, making it the world's second-best performer during the period, behind Argentina. The month's gains were driven by investor confidence in the country's economic prospects after a $3 billion stand-by loan (SBA) with the International Monetary Fund (IMF) avoided sovereign debt default.   Expected inflows from the IMF and friendly countries such as China and Saudi Arabia with relatively stable currencies and a possible drop in interest rates also added to market sentiment. Average daily volumes and val...