Pakistan’s KSE-100 index rises in wake of MSCI review
Continuing the rising trend, the KSE-100 index gained 220 points on Friday as investor sentiment strengthened in the wake of an MCSI review amid hefty trading in large-cap banks and exploration and production stocks.
The cement sector, on the other hand, remained under pressure throughout the day and majority of cement shares closed in the red. Earlier, trading began on a positive note and the Index advanced 290 points within first hour, going above the 36,000-point mark. Later in the first session, the Index erased some of the gains. At close, the benchmark KSE 100-share Index recorded an increase of 219.64 points, or 0.61 percent, to settle at 35,978.16. Overall, trading volumes decreased to 210.6 million shares compared with Thursday’s tally of 266 million. The value of shares traded during the day was Rs6.6 billion. Shares of 370 companies were traded. At the end of the day, 206 stocks closed higher, 144 declined and 20 remained unchanged. WorldCall Telecom was the volume leader with 21.5 million shares, losing Rs0.01 to close at Rs1.69.
US top stock indexes post records
The three major US stock indexes posted record closing highs and the S&P 500 registered a fifth straight week of gains on Friday as investors brushed aside worries over the progress of US-China trade talks and as Walt Disney shares rose.
Doubts about trade progress resurfaced earlier in the day when President Donald Trump, in remarks to reporters at the White House, said he has not agreed to a rollback of US tariffs sought by China.
On Thursday, officials from both countries said that the United States and China had agreed to such a deal.
The Dow Jones Industrial Average rose 6.44 points, or 0.02%, to 27,681.24, the S&P 500 gained 7.9 points, or 0.26%, to 3,093.08 and the Nasdaq Composite added 40.80 points, or 0.48%, to 8,475.31.
For the week, the S&P 500 rose 0.8%, posting a fifth straight week of gains, while the Nasdaq gained 1.1%, closing out its sixth straight week of gains. The Dow was up 1.2% for the week.
FTSE 100 closes lower as trade optimism wanes
The UK’s premier share index closed down 47.03 points at 7,359.38. On the week as a whole though, it gained some ground, nudging up 0.78 percent. FTSE 100 closed out Friday in the red as some of this week’s shiny optimism on US, China trade was rubbed off. The UK’s premier share index closed down 47.03 points at 7,359.38.
On the week as a whole though, it gained some ground, nudging up 0.78percent. The midcap FTSE 250 was also lower on the day, easing 75.59 points to close at 20,357.63. On Wall Street, benchmark indices were also hit due to the trade news. The Dow Jones Industrial Average shed nearly 40 points at 27,635, the S&P 500 was near flat, but the tech heavy Nasdaq was higher though, adding around 20 at 8,454.
India’s markets suffer sharp losses
India stock markets suffered sharp losses to break a two-day record-setting spree. The S&P BSE Sensex index and the broader NSE Nifty benchmark started the session lower tracking weakness in Asian peers, and pushed higher briefly in the afternoon with the 30-scrip index hitting an all-time high of 40,749.33 before returning to the negative zone.
Buying in banking stocks was outweighed by a selloff across sectors led by pharmaceutical and consumer goods stocks in a volatile session. The NSE’s India VIX index – which measures the market’s expectation of volatility in the near term – spiked more than 5 percent during the session. The Sensex finished the week with a gain of 158.58 points – or 0.39 percent – and the Nifty added 17.55 points (0.15 percent).
Japan stocks higher; Nikkei 225 up 0.22pc
Japan stocks were higher after the close on Wednesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.
At the close in Tokyo, the Nikkei 225 rose 0.22percent to hit a new 52-week high. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00percent to 14.67.
France stocks lower at close; CAC 40 down 0.02pc
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 0.02percent, while the SBF 120 index fell 0.05percent. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 301 to 273 and 93 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 7.09 percent to 12.12. Gold Futures for December delivery was down 0.25 percent or 3.65 to $1462.75 a troy ounce. Elsewhere in commodities trading,