Pakistan stocks index gains 178 points in range-bound trading
In a turnaround, the stock market rose 178 points in range-bound trading on Friday as rising international crude oil prices kept investor interest alive. A detailed verdict in former president Pervez Musharraf’s treason case, however, prevented the market from making hefty gains. Trading in the first session began on a bullish note, however, selling pressure emerged shortly afterwards and the index traded within a narrow range. It ended the session with a loss of 127 points.
The oscillation in the index continued in the second session as well but a buying spree in the final hour supported the recovery in the index. At close, the benchmark KSE 100-share Index recorded an increase of 177.62 points, or 0.44percent, to settle at 40,832.99. Traded value stood low at $55 million, down 25percent and volumes came in at 181 million shares, down 31percent. Overall, trading volumes dropped to 180.7 million shares compared with Thursday’s tally of 260.1 million. The value of shares traded during the day was Rs8.5 billion. Shares of 344 companies were traded. At the end of the day, 156 stocks closed higher, 176 declined and 12 remained unchanged. Hascol (R) was the volume leader with 18.6 million shares, losing Rs0.63 to close at Rs10.54. It was followed by Fauji Foods with 14.2 million shares, losing Rs0.5 to close at Rs14.79 and Unity Foods with 8.7 million shares, gaining Rs0.09 to close at Rs14.79.
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US stocks hit record closing highs again
US stocks hit record closing highs again on Friday and the S&P 500 registered its biggest weekly percentage gain since early September after data showed a rise in consumer spending and investors continued to be optimistic about developments in the US-China trade dispute.
The Dow Jones Industrial Average rose 78.13 points, or 0.28%, to 28,455.09, the S&P 500 gained 15.85 points, or 0.49%, to 3,221.22 and the Nasdaq Composite added 37.74 points, or 0.42%, to 8,924.96.
The S&P 500 rose for a fourth straight week, gaining 1.7% for the week, its biggest weekly gain since early September.
President Donald Trump claimed progress on issues from trade to North Korea and Hong Kong after speaking with Chinese President Xi Jinping, dispelling fears of another escalation in the two countries’ trade war.
The S&P 500 also hit a seventh straight intraday all-time high in its longest streak of record intraday highs since October 2017, and the Nasdaq ended with gains for an eighth session in a row.
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India’s Sensex rises over 100 points to touch 41,800
Domestic stock markets continued their record-breaking spree on Friday tracking Asian peers which held near 18-month highs. The S&P BSE Sensex index rose 136.04 points to touch an all-time high of 41,809.96 and the broader NSE Nifty climbed to a record 12,293.90, surpassing its earlier all-time high of 12,268.35 registered the previous day. Gains in banking – especially state-run lenders – and automobile shares supported the markets however losses in consumer goods shares limited the upside.
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Japan stocks higher; Nikkei 225 up 1.01pc
Japan stocks were higher after the close on Monday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 1.01percent to hit a new 52-week high.
Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2382 to 1143 and 255 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00percent to 14.37. Crude oil for January delivery was up 1.41percent or 0.78 to $55.95 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February rose 1.11percent or 0.67 to hit $61.16 a barrel, while the February Gold Futures contract fell 0.48percent or 7.05 to trade at $1465.65 a troy ounce. USD/JPY was up 0.07percent to 109.58, while EUR/JPY rose 0.14percent to 120.78. The US Dollar Index Futures was up 0.02percent at 98.225.
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France stocks climb; CAC 40 up 0.82pc
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 added 0.82 percent to hit a new 5-year high, while the SBF 120 index climbed 0.76 percent. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 323 to 239 and 105 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 8.17 percent to 11.24. Gold Futures for February delivery was down 0.22percent or 3.25 to $1481.15 a troy ounce.
Elsewhere in commodities trading, Crude oil for delivery in February fell 1.44percent or 0.88 to hit $60.30 a barrel, while the February Brent oil contract fell 0.77percent or 0.51 to trade at $66.03 a barrel. EUR/USD was down 0.47percent to 1.1068, while EUR/GBP fell 0.54percent to 0.8501. The US Dollar Index Futures was up 0.38percent at 97.325.