STOCK EXCHANGES AROUND THE WORLD
Pakistan stocks up 174 points in range-bound trading
The KSE-100 index extended gains on Friday and rose 174 points in range-bound trading. Bullish sentiment was led by an increase in foreign exchange reserves and falling bond yields, indicating economic stability, it is said.
Earlier, trading began with an upward march, however, the rise proved to be short-lived and the index dipped within first hour. Later, strong investor sentiment provided support for the market that recovered steadily and closed with a rise of 224 points in the first session. The second session saw some of the gains wipe off as investors resorted to profit-booking. At close, the benchmark KSE 100-share Index recorded an increase of 173.93 points, or 0.51percent, to settle at 34,377.61. Overall, trading volumes decreased to 157.1 million shares compared with Thursday
’s tally of 184 million. The value of shares traded during the day was Rs6.5 billion. Shares of 349 companies were traded. At the end of the day, 170 stocks closed higher, 142 declined and 37 remained unchanged. Fauji Cement was the volume leader with 12.9 million shares, gaining Rs0.2 to close at Rs15.74.
S&P, Nasdaq set records
US stocks rallied to close out the trading week on Friday as the S&P 500 set a closing record for the third time in five days after an upbeat US jobs report and data on Chinese manufacturing eased concerns about slowing global growth.
Job growth slowed less than forecast in October, as a drag from a strike at General Motors was made up for in other areas of the labor market, while job gains in the prior two months were stronger than previously thought.
Along with the S&P’s new high, the Nasdaq eclipsed its July closing record. The S&P has climbed for four straight weeks, its longest streak since February, while the Nasdaq has gained in five straight weeks as quarterly earnings have come in stronger than anticipated and U.S.-China trade rhetoric has appeared to be productive. The Dow sits less than 12 points from a closing record.
The Dow Jones Industrial Average rose 300.86 points, or 1.11%, to 27,347.09, the S&P 500 gained 29.36 points, or 0.97%, to 3,066.92 and the Nasdaq Composite added 94.04 points, or 1.13%, to 8,386.40.
For the week, the Dow rose 1.44%, the S&P 500 climbed 1.47% and the Nasdaq rose 1.74%.
Japanese stocks higher; Nikkei 225 up 1.15pc
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 gained 1.15 percent. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1857 to 1627 and 237 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00percent to 17.74.
Germany stocks climb; DAX up 0.73pc
Germany stocks were higher after the close on Friday, as gains in the Basic Resources, Technology and Industrials sectors led shares higher. At the close in Frankfurt, the DAX rose 0.73 percent to hit a new 52-week high, while the MDAX index gained 1.14percent, and the TecDAX index gained 1.19 percent. Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 475 to 198 and 81 ended unchanged.
The DAX volatility index, which measures the implied volatility of DAX options, was down 5.98 percent to 13.36 a new 3-months low. Gold Futures for December delivery was down 0.33 percent or 5.05 to $1509.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 3.01 percent or 1.63 to hit $55.81 a barrel, while the January Brent oil contract rose 2.88percent or 1.72 to trade at $61.34 a barrel.
France stocks surge; CAC 40 up 0.56pc
France stocks were higher after the close on Friday, as gains in the Foods & Drugs, Gas & Water and General Financial sectors led shares higher.
At the close in Paris, the CAC 40 rose 0.56 percent, while the SBF 120 index added 0.57percent. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 334 to 208 and 99 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 5.77 percent to 12.97. Gold Futures for December delivery was down 0.21 percent or 3.25 to $1511.55 a troy ounce.
India Sensex, Nifty log sixth straight session of gains
The S&P BSE Sensex and NSE Nifty 50 indexes extended winning streak to sixth straight session. However, the gains were capped as gains in IndusInd bank, ITC, HDFC Bank, Axis Bank and Tata Steel were offset by losses in Tata Consultancy Services, Larsen & Toubro, Reliance Industries, Asian Paints and Mahindra & Mahindra. In the last six trading sessions, the Sensex has advanced 2.9 percent and Nifty has jumped 2.65 percent.
The Sensex ended 36 points higher at 40,165 and Nifty 50 index rose 13 points to close at 11,890. Nine of 11 sector gauges compiled by National Stock Exchange ended higher led by the Nifty Media index’s over 7 percent gain. Nifty Metal, Nifty PSU Bank and Nifty Private Bank indexes also climbed between 1 and 2.5 percent each. On the other hand, Nifty Auto index was top loser, down 0.7 percent.