STOCK EXCHANGES AROUND THE WORLD
Pakistan stock index retreats further into red
The market reverted to its bearish ways as it lost another 381 points to finish the second successive session in the red.
The KSE-100 index opened on a negative note and continued to lose as interest remained dull. Investors remained on the sidelines, opting to offload stocks amid lack of positive triggers. At the end of trading, the benchmark KSE 100-share Index recorded a decrease of 380.60 points, or 1.10percent, to settle at 34,190.02.
Volumes remained subdued as only 51 million shares changed hands during the day. Overall, trading volumes decreased to 51.2 million shares compared with Thursday
’s tally of 111.9 million. The value of shares traded during the day was Rs1.86 billion. Shares of 296 companies were traded. At the end of the day, 73 stocks closed higher, 212 declined and 11 remained unchanged. Lotte Chemical was the volume leader with 6.9 million shares, gaining Rs0.32 to close at Rs16.93. It was followed by Dolmen City with 5.9 million shares, losing Rs0.02 to close at Rs10 and Maple Leaf Cement with 3.3 million shares, losing Rs0.61 to close at Rs23.76. Foreign institutional investors were net buyers of Rs14.9 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.
US stocks dip over strong payrolls data
US stocks dipped on Friday, as the S&P 500 snapped a three-day streak of record closes, following an unexpectedly strong US payrolls report that led investors to reassess how dovish a stance the Federal Reserve may take at its next meeting.
The US Labor Department data showed nonfarm payrolls rose by 224,000 jobs in June, the most in five months, and solidly beating economists’ expectation of 160,000 additions.
Traders sharply scaled back their expectations of a rate cut of half a percentage point by the central bank at its next policy meeting on July 30-31, although confidence remained high the Fed would cut rates by 25 basis points.
The Dow Jones Industrial Average fell 43.88 points, or 0.16%, to 26,922.12, the S&P 500 lost 5.41 points, or 0.18%, to 2,990.41 and the Nasdaq Composite dropped 8.44 points, or 0.1%, to 8,161.79.
Declining issues outnumbered advancing ones on the NYSE by a 1.18-to-1 ratio; on Nasdaq, a 1.15-to-1 ratio favored advancers. The S&P 500 posted 37 new 52-week highs and no new lows; the Nasdaq Composite recorded 67 new highs and 42 new lows.
Japanese stocks climb
Japan stocks were higher after the close on Friday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 0.20 percent.
Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2076 to 1392 and 270 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00percent to 14.23 a new 52-week low. Crude oil for August delivery was down 1.27 percent or 0.73 to $56.61 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.30 percent or 0.19 to hit $63.11 a barrel, while the August Gold Futures contract fell 0.20percent or 2.85 to trade at $1418.05 a troy ounce.
France stocks lower
France stocks were lower after the close on Friday, as losses in the Foods & Drugs, Gas & Water and General Financial sectors led shares lower. At the close in Paris, the CAC 40 fell 0.48 percent, while the SBF 120 index fell 0.55percent. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 326 to 243 and 90 ended unchanged.
Shares in Coface rose to 52-week highs; up 2.21percent or 0.20 to 9.47. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 6.95percent to 12.45. Gold Futures for August delivery was down 1.34percent or 19.05 to $1401.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.07percent or 0.04 to hit $57.30 a barrel, while the September Brent oil contract rose 1.42percent or 0.90 to trade at $64.20 a barrel.
Germany stocks down
Germany stocks were lower after the close on Friday, as losses in the Construction, Industrials and Financial Services sectors led shares lower.
At the close in Frankfurt, the DAX lost 0.49percent, while the MDAX index fell 0.51percent, and the TecDAX index declined 0.66percent. Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 410 to 251 and 93 ended unchanged.
The DAX volatility index, which measures the implied volatility of DAX options, was up 5.10 percent to 13.39. Gold Futures for August delivery was down 1.42 percent or 20.15 to $1400.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.17percent or 0.10 to hit $57.44 a barrel, while the September Brent oil contract rose 1.69percent or 1.07 to trade at $64.37 a barrel.
India Sensex, Nifty close in negative
The Indian stock market ended lower on Friday as the Union Budget failed to bring delight to the investors. Sensex closed at 39,513.39 tanking 394.67 points, or 0.99 percent, while Nifty settled at 11,811.15 plunging 135.60 points, or 1.14 percent. During the intra-day trade, the Sensex had hit the 40,000 mark and Nifty edged closer to 12,000-level.
But soon during the Budget speech, the equity indices gave up all the gains. Nifty Metal and Realty were most affected among sectors. Shares of NBFC gained after the government announced more powers to Reserve Bank of India (RBI) to supervise the sector. The PSU Bank stocks also rose. However, most of the sectors trades in the red zone. Meanwhile, the broader market also extended loss as both the BSE Midcap and Smallcap indices fell 1.39percent and 1.36percent respectively. Yes Bank was the worst performer among stocks plunging 8.36percent. Other losing stocks were NTPC, Vedanta, Mahindra and Mahindra and Sun Pharma shredding as much as 4.81percent. Globally, Asian shares hovered near two-month highs on Friday, holding recent gains as investors awaited US employment data, a key release that could make or break market expectations about aggressive policy easing by the Federal Reserve. The MSCI’s broadest index of Asia-Pacific shares outside Japan was set for its fifth straight weekly rise. World stocks and bonds have rallied since June on hopes global central banks will keep policy easy to support growth. Investors worldwide are waiting for US non-farm payrolls, due later in the day, which is expected to have jumped by 160,000 in June compared with 75,000 in May.