KARACHI – Sui Southern Gas Company (SSGC) announced on Friday that Compressed Natural Gas (CNG) stations will remain closed for an additional 24 hours as part of gas load management.
(more…)Author: Hamza Shahnawaz
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KSE-100 index falls by 483 points in mid-day trading
KARACHI – The Pakistan Stock Exchange (PSX) experienced a significant downturn today as the benchmark KSE-100 index plummeted by 483 points or 1.17 percent at 12:00 PM, currently trading at 40,850 points.
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Engro Foods’ after tax annual profit falls by 83pc
KARACHI – Engro Foods Limited, a prominent player in the Pakistani dairy industry, has announced an 83% decline in net profit for the fiscal year 2018, according to financial statements submitted to the Pakistan Stock Exchange (PSX) on Friday.
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Rupee weakens against dollar in early trading
KARACHI – In the early trading hours on Friday, the Pakistan Rupee faced a decline of six paisas against the US dollar, reaching Rs138.30 in response to increased demand for import and corporate payments.
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SBP estimates ICT exports worth $1.5bn remain undocumented
KARACHI: State Bank of Pakistan (SBP) has estimated that around $1.5 billion exports in Information and Communications Technologies (ICT) are remained undocumented due to absence of major world’s leading payment solution provider and preference of cost saving.
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Lucky Cement wins international CSR award
KARACHI: Lucky Cement Limited (psx: LUCK) has secured 8th International Corporate Social Responsibility Award in the category of “Sustainability Initiative”. The award was organized by The Professionals Network (TPN).
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Pakistan Rupee Softens Against US Dollar Amid Import and Corporate Demand
KARACHI: In the early trading session on Thursday, the Pakistan Rupee experienced a slight decline against the US dollar, driven by increased demand from import and corporate buyers.
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100pc foreign shareholding allowed in legal entities incorporated in Pakistan: Razak Dawood
KARACHI: Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, has said that 100 percent foreign shareholding remained allowed in legal entities incorporated in Pakistan.
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Equity market ends down by 109 pts on buying activities
KARACHI: The equity market fell by 109 points on Wednesday on buying activities in major scrips.
The benchmark KSE-100 index closed at 41,505 points as against 41,614 points showing a decline of 109 points.
Analysts at Arif Habib Limited said that market performed well today with an increase of 153 points but faced profit booking too causing the index to drop by 197 points.
Early on, the market leap frogged due to buying in Cement Sector, which saw volumes of 48 million by day end, followed by Chemical Sector.
Key scrips in Cement sector that generated trading volume include FCCL, MLCF and DGKC.
Among Chemical sector, EPCL traded ~6M shares however, the price declined by around three percent by sessions end.
Banks and Textile sector scrips remained on the back burner but value buying was observed.
Sectors contributing to the performance include Banks (-101 points), E&P (-38 points), O&GMCs (-35 points), Chemical (-16 points), Fertilizer (+56 points), Cement (-30 points), Autos (-26 points).
Volumes declined from 254 million shares to 205 million shares (-19 percent DoD).
Average traded value remained largely the same at US$71 million.
Stocks that contributed significantly to the volumes include FCCL, MLCF, DGKC, BOP, PIBTL and PASL, which formed 24 percent of total volumes.
Stocks that contributed positively include FFC (+26 points), EFERT (+17 points), INDU (+14 points), ENGRO (+13 points), and DGKC (+11 points).
Stocks that contributed negatively include HBL (-25 points), PPL (-24 points), BAHL (-23 points), OGDC (-23 points) and PSO (-17 points).
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Pakistan Rupee demonstrated resilience in the foreign exchange market on Wednesday, gaining five paisas against the US dollar. This positive trend was attributed to improved sentiments fueled by the anticipation of foreign inflows.
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