The local stock barometer rallied on Tuesday, driven mostly by local investors who loaded up on blue-chip stocks
Regina Capital Development Corporation Managing Director Luis Limlingan noted that blue-chip stocks
were heavily beaten from days of net foreign selling at investors have begun to pick them up because of their cheaper valuation.
LAHORE -- Pakistan Stock Exchange edged higher on Monday, the first day of the new week, with support of blue-chip stocks
. OGDC, MCB, ENGRO, POL, and PSO remained top contributors to the 100-share index, adding 181 points.
The brighter performance for the FTSE 100 comes after PS27 billion was wiped off blue-chip stocks
on Friday when US plans to hike tariffs on steel and aluminium prompted fears of a global trade war.
The market also remained under pressure due to continued correction in blue-chip stocks
across the sectors as well as the net selling recorded by the foreign investors on Thursday.
Growing volumes in DGCX Indian SSF contracts following the launch of an additional 44 blue-chip stocks
is a direct result of the Exchange meeting the needs of global participants to access Indian markets in an efficient and secure manner.
However, the strength of the UK currency heaped more misery on blue-chip stocks
, with the FTSE 100 Index dropping to its lowest level since April, before closing down 79.92 points to 7,215.47.
Resuming lower at 24,393.59, the Sensex touched the day's low of 24,187.54 following widespread losses in blue-chip stocks
as selling activity accelerated.
A further look at the Kuwait market reveals that the blue-chip stocks
saw an increase in their ADTV while small and medium-cap stocks exhibited a major decline in liquidity.
First, the FSC aims to expand investment products by allowing the listing of more blue-chip stocks
and new derivatives products.
The stock market initiated last week's trading with big losses driven by the profit collection operations performed on the small-cap stocks, however, it bounced back later supported by the purchasing power that targeted many blue-chip stocks
, the report noted.