Skip to main content

The stock market saw a significant shift in buying and selling patterns yesterday.

Yesterday 'Insurance Companies' made a huge amount of net selling of $8.3 million. While the 'mutual funds' were net buyers of $2.03 million. 

For both, this is a major shift from their recent trend. Funds had been consistently selling in the market while insurance sector was buying in small amounts in last thirty days.

The foreign corporates in last 30 trading sessions have kept on the sidelines except that one day net buying of over $4 million five days ago. See the charts here.

Dawood Hercules (DAWH) declared a cash dividend of Rs 3 per share and EPS of Rs 7.96 (last year same quarter Rs 12.93) for Q2-Jun2024. See Note.

Soneri Bank Limited (SNBL) declared a cash dividend of Rs 1.25 and earnings per share (EPS) of Rs 1.3 for the second quarter ending June 30, 2024. See note.

Popular posts from this blog

Brent Crude Logs Biggest Weekly Drop Since September on Weak Demand, Easing Tensions

Oil prices were under pressure this week. Brent crude oil futures fell 1.9% to $73 per barrel on Friday, registering the biggest weekly loss since early September, with prices dropping over 7%. The decline was attributed to weaker demand forecasts from OPEC and the International Energy Agency (IEA), slowing economic growth in China, and signs of easing geopolitical tensions in the Middle East. Both OPEC and the IEA revised down their demand forecasts for 2024 and 2025. China's refinery output declined for the sixth consecutive month, impacted by weak fuel demand and the growing adoption of electric vehicles (EVs). Meanwhile, U.S. crude oil production reached a new record last week. Although a drawdown in U.S. crude inventories and stronger-than-expected retail sales in September provided some support to oil prices, easing concerns about a broader conflict in the Middle East exerted additional downward pressure on the market.
Read more
 A Snapshot of Exchange Traded Funds at PSX
Read more

PSX Strongly Rebounds

The Pakistan Stock Exchange (PSX) reacted positively to the conclusion of the IMF staff-level agreement and has now recovered a substantial part of the losses sustained on Monday. Today, out of the 1,139-point gain in the KSE-100 Index, around 800 points were contributed by UBL, OGDC, PPL, and Meezan Bank.
Read more