KARACHI: The stock market gained 54 points on Tuesday in a range bound trading observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,420 points from the previous day’s closing of 47,366 points.
Analysts at Topline Securities said that a range-bound session was observed at the exchange today with the KSE 100 Index printing an intra-day high of 47,596 and an intra-day low of 47,349 points.
Major positive contributors in today’s session were namely SYS, MARI, LUCK, PAEL & PPL who cumulatively added 117 points to the benchmark index while POL, MEBL, BAHL, PSMC & PIOC dragged the KSE 100 index lower by 71 points.
On the results front, PSMC announced a disappointing 2QCY21 EPS of Rs5.09 after which the stock succumbed to selling pressure.
KOHC also announced its FY21 EPS of 17.41 as compared to a FY20 LPS (2.21).
Volumes continued to remain depressed with the total traded volume and value clocking in at 377.19 million shares and Rs13.97 billion, respectively.
The volume leader for today was TELE with 41.59 million shares traded during the session.
KARACHI: Fayyaz Ilyas, chairman, Association of Builders and Developers of Pakistan (ABAD), has demanded stern action against the cartel of cement manufacturers. He said that cement and steel are basic raw material for the construction industry
The transfers have been made with immediate effect and until further orders.
01. Ms. Suraiya Ahmed Butt (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Training & Research (Customs), Karachi from the post of Chief Collector of Customs, Appraisement (South), Karachi.
02. Dr. Fareed Iqbal Qureshi (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Customs Valuation, Karachi. The officer in addition to his own duties shall hold additional charge of the post of Director General, Directorate General of Risk Management, Karachi. The officer has been transferred from the post of Director General, Directorate General of Training & Research (Customs), Karachi.
03. Ahmad Reza Khan (Pakistan Customs Service/BS-21) has been transferred and posted as Chief Collector of Customs Khyber Pakhtunkhwa, Peshawar from the post of Director General, Directorate General of Transit Trade, Karachi.
04. Wajid Ali (Pakistan Customs Service/BS-21) has been transferred and posted as Chief Collctor of Customs, Appraisement (South), Karachi. The officer in addition to his own duties shall hold additional charge of the post of Director General, Directorate General of Reforms and Automation (Customs), Islamabad (Stationed at Karachi). The officer has been transferred from the post of Director General, Directorate General of Reforms & Automation (Customs), Islamabad.
05. Ms. Shahnaz Maqbool (Pakistan Customs Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (Hq), Islamabad from the post of Director General, Directorate General of Customs Valuation, Karachi.
06. Imtiaz Ahmed Shaikh (Pakistan Customs Service/BS-20) has been transferred and posted as Director General, (OPS) Directorate General of Transit Trade, Karachi from the post of Member, (OPS) Federal Board of Revenue (Hq), Islamabad (Stationed at Karachi).
The FBR said that the officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting.
KARACHI: According to a notice to Pakistan Stock Exchange (PSX) on Tuesday, a consortium of Pakistani companies has been awarded exploration in Abu Dhabi.
The consortium of PPL (operator), OGDC, MARI and GHPL has been awarded an Offshore Block-5 in Abu Dhabi.
Analysts at Arif Habib Limited said that the consortium participated in Abu Dhabi’s second competitive exploration bid round in 2019 for acquiring one of the five blocks (three offshore and two onshore) being offered by Abu Dhabi National Oil Company (ADNOC).
For this purpose, ECC permitted these four companies to invest a total of $400 million ($100 million by each company) in August 2021 for 5 years by issuance of Corporate Guarantees in favor of ADNOC and Supreme Council for Financial and Economic Affairs (SCFEA).
With this, the consortium formed a Special Purpose Vehicle, which made it eligible for the exploration block.
Following the concession award of Offshore Block-5, the consortium announced development of a company Pakistan International Oil Limited (PIOL) located at Abu Dhabi Global Market, where each company has a 25 per cent stake.
The awarded block is located 100 km North East of Abu Dhabi and has an area of 6,223 km². It resides in an area which has prospects of large hydrocarbon reserves.
Albeit, these E&P companies for the first time will be able to explore, appraise and develop oil and gas resources in Abu Dhabi and expand its footprint internationally.
Beside Pakistani companies, other international companies such as Eni (Italy), PTTEP (Thailand), Occidental Petroleum (US), Index (Japan), Bharat Petroleum Company (India) and Indian Oil Company Limited (India) have won blocks in Abu Dhabi, according to the analysts.
KARACHI – The exchange rates for the Saudi Riyal (SAR) against the Pakistani Rupee (PKR) in the open market remained steady on August 31, 2021. According to the latest updates from local currency dealers, the buying rate for one Saudi Riyal ranged between Rs 44.20, while the selling rate stood at Rs 44.70.
We update rates hourly so we can offer you the best AED to PKR.
The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
We update rates hourly so we can offer you the best EUR to PKR.
The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI, August 31, 2021 – Following are the latest rates for buying and selling one UK Pound Sterling (GBP) in Pakistani Rupees (PKR) in the open market.
Karachi, August 31, 2021 – The open market in Karachi continues to showcase stability in the exchange rates of the US Dollar (USD) to Pakistani Rupee (PKR) on August 31, 2021.
