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Pakistan stock exchange

MCB Bank earns Rs9.6 billion as foreign exchange income in 2022

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MCB Bank

KARACHI: The MCB Bank Limited has earned Rs9.6 billion as foreign exchange income during the year ended December 31, 2022, mainly due to the massive rupee depreciation. The foreign exchange income of the bank surged 149 per cent during the year under review to Rs9.6 billion, compared with Rs3.85 billion in the preceding year. The … Read more

Pakistan equity market remains bullish

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Pakistan equity market remains bullish

KARACHI: The Pakistan Stock Exchange (PSX) showed positive momentum across-the-board with the volumes picking up pace and the market closing in the green zone fuelled by an optimistic outlook that the International Monetary Fund (IMF) programme will resume in the coming days, analysts said on Tuesday. An analyst at Pearl Securities said the PSX witnessed … Read more

Pakistan bourse remains bullish

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Pakistan bourse remains bullish

KARACHI: The Pakistan equity market witnessed bullish momentum during Monday’s trading session and closed in the green territory on the back of a positive expectation of the revival of the International Monetary Fund (IMF) programme in the upcoming days, analysts said. An analyst at Pearl Securities said the bourse observed a trigger in the energy … Read more

Pakistan equity market witnesses mixed session

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Pakistan equity market

The Mixed session was observed at the Pakistan Stock Exchange (PSX) on Thursday. The KSE-100 Index closed at 40,733.51 points, up 113.57 points, or 0.28 per cent. The volumes decreased 5.3 per cent from 131.1 million shares to 124.1 million shares. KARACHI: Another mixed session was observed at the Pakistan Stock Exchange (PSX) on Thursday, … Read more

Pakistan bourse remains range-bound

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Pakistan bourse remains range-bound

The Pakistan Stock Exchange (PSX) witnessed a range-bound session on Wednesday. The index closed at 40,619.94 points, down 53.12 points, or 0.13 per cent. The International Monetary Fund’s (IMF) revised growth to 2 per cent for FY23.   KARACHI: The Pakistan Stock Exchange (PSX) witnessed a range-bound session on Wednesday. The market opened in the … Read more

Bulls return to Pakistan bourse

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Pakistan Stock Exchange

KARACHI: After two gloomy sessions, the bulls returned to the Pakistan Stock Exchange (PSX). The market opened in the green territory and remained in that range, as the investors choose to cherry picking selective equities at appealing levels in search of value to add to their portfolios. Ahsan Mehanti at Arif Habib Corporation said that … Read more

Pakistan equity market witnesses bloodbath session

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Pakistan equity market

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bloodbath session on Tuesday. The benchmark KSE-100 Index opened in the green zone but the prevailing economic instability and political uncertainty plunged the index down to an intraday low of 1,432.94 points and concluded in the red zone, analysts said. “Whispers of a delay in the IMF … Read more

PSX witnesses mixed session on World Bank’s GDP growth forecast of 2%

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World Bank approves $240m to improve Karachi’s water

KARACHI: A mixed session was witnessed at the Pakistan Stock Exchange (PSX) on Wednesday after the World Bank lowered the GDP growth forecast to 2 per cent in FY23. The benchmark KSE-100 Index closed at 40,758.20 points, down 43.30 points, or 0.11 per cent. The volumes decreased from 214.3 million shares to 189.4 million shares, … Read more

Bulls dominate Pakistan equity market

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Bulls dominate Pakistan equity market

The benchmark KSE-100 Index closed at 40,801.50 points, up 296.74 points. Technology and communication (+49.7 points), commercial banks (+33.8 points). The volumes increased from 163.9 million shares to 214.3 million shares on Tuesday. KARACHI: The bulls took charge at the Pakistan Stock Exchange (PSX) on Tuesday. The benchmark KSE-100 Index closed at 40,801.50 points, up … Read more

PSX closes lower over uncertain macroeconomics

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PSX closes lower over uncertain macroeconomics

KARACHI: The Pakistan stocks market closed lower on Wednesday as investors opted for profit-taking owing to worsening macroeconomics of the country, analysts said. An analyst at Arif Habib Limited said that the market witnessed another mixed session. The market started in the red zone but quickly turned green and traded in a constrained range the … Read more

Bourse closes higher over renewed optimism

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Bourse closes higher

The Pakistan Stock Exchange KSE-100 shares Index gained 395.45 points. The market reached an intraday high of 41,028 and a low of 40,349. Analysts suggest investors adopt the “Sell on Strength” strategy in the upcoming sessions. KARACHI: The Pakistan equity market closed on a positive note on Monday as renewed optimism prevailed among the investors … Read more

PSX recovers over year-end phenomenon

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PSX recovers over year

The Pakistan Stock Exchange KSE-100 shares Index gained 467.93 points. The ready market volumes stood at 227.78 million shares. Premium Textile down Rs44.20 to close at Rs557.05/share. KARACHI: The Pakistan bourse closed higher on Thursday on account of institutional financial closing, which is a year-end phenomenon leading to late buying, analysts said. An analyst at … Read more

Pakistan heading in right direction and will not default: Ishaq Dar

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ECP Ishaq Dar disqualification
  • Finance Minister Ishaq Dar said that Pakistan has a beautiful future.
  • He said the government heard every day that Pakistan will default.
  • The smuggling to neighbouring country main reasons behind poor economy.

ISLAMABAD: Federal Finance Minister Ishaq Dar said Pakistan is heading in the right direction and will not default.

While assuring investors at the Pakistan Stock Exchange (PSX), Finance Minister Ishaq Dar said that Pakistan has a beautiful future and a resilient economy and there is no chance of default. He said the government heard every day that Pakistan will default but there is no chance.

“Pakistan is in a tight [fiscal] position and we do not have $24 billion in reserves which the PML-N government left in 2016 and it’s not my fault. The fault is in the system and we must ensure Pakistan goes forward,” said the finance minister.

Finance Minister urged political parties to show some serious attitude and stop playing with the country’s economy for petty political gains. He further said that the Securities and Exchange Commission of Pakistan (SECP) is of great significance in improving the country’s economy and the government was focusing to improve its functioning.

“We have not banned imports but prioritized import items under different categories so the essential items can be imported on a priority basis,” Ishaq Dar said, adding that essential items including medicine and edible oil have been put in category one, energy imports in category two, imports for the export-oriented industry in category three while imports for the agricultural industry in category four.

He said nations and politicians should learn from the mistakes of the past and work together for the development of the country.

The Finance minister said the smuggling of the greenback to a neighbouring country, import of wheat, and its partial subsidization and smuggling of wheat and fertilizers are the three main reasons behind the deteriorating economy.

 

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Political, economic instability hammer PSX

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Pakistan Stock Exchange

KARACHI: The Pakistan bourse turned bearish on Tuesday on the back of selling pressure due to prevailing concerns regarding the country’s political and economic uncertainties, analysts said. An analyst at Pearl Securities said that the stock market witnessed selling pressure throughout the day and observed profit-taking as it closed in the red zone with low … Read more

Bourse closes higher over value-hunting

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PSX

KARACHI: The Pakistan stocks market closed in the green zone on Thursday as the investors opted for value-hunting in the blue-chip stocks, analysts said. An analyst Topline Securities said that after a bearish trend since the start of the week, the equities witnessed some bullish momentum. “The market witnessed buying sentiments due to the resumption … Read more

PSX sheds 489 points over political noise

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PSX sheds 489 points over political noise

KARACHI: The Pakistan bourse closed in the negative zone on Wednesday after witnessing another negative session where panic selling was observed over renewed political uncertainty, analysts said. An analyst at Arif Habib Limited said that the market witnessed a negative session, where the KSE-100 Index recorded a lackluster session as investor participation remained low due … Read more

Political upheaval results in bloodbath at PSX

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Political upheaval results in bloodbath at PSX

KARACHI: The Pakistan equity market observed a bloodbath session on Tuesday over renewed political noise keeping the investors’ confidence under pressure, who opted for profit-taking, analysts said. An analyst at Arif Habib Limited said that the stocks witnessed a bloodbath session as the KSE-100 Index opened in the red zone owing to political instability and … Read more

Stocks close lower over political noise

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Stocks close lower over political noise

KARACHI: The Pakistan bourse closed in the red zone on Monday as political uncertainty and delays in the resumption of the International Monetary Fund (IMF) programme grappled the market, analysts said. Commodities expert Ahsan Mehanti said that the stocks fell across the board on political noise after Pakistan Tehreek-e-Insaf (PTI) called for the dissolution of … Read more

Bloodbath at PSX over severe economic pressure

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Bloodbath at PSX

The Pakistan Stock Exchange KSE-100 shares Index shed 537.43 points, or 1.28 per cent, to close at 41,612.67 points. The index dropped 632.29 points intraday and closed in the red zone. Analysts suggest investors adopt “Sell on Strength” strategy in the upcoming sessions. KARACHI: The Pakistan Stock Exchange (PSX) remained under severe pressure on Monday, … Read more

PSX closes lower over economic, political uncertainty

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PSX closes lower

The Pakistan Stock Exchange KSE-100 shares Index shed 24.96 points, or 0.06 per cent, to close at 42,348.63 points. Analysts suggest investors adopt the “Sell on Strength” strategy in the upcoming sessions. The ready market volumes stood at 120.19 million shares, compared with the turnover of 139.20 million shares in the last trading session. KARACHI: … Read more

Bourse closes in green zone after range-bound session

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Bourse closes in green zone

The Pakistan bourse closed higher on Thursday after witnessing a range-bound session. Analysts expect the market to remain under pressure due to political unrest and the economic situation. The Pakistan Stock Exchange KSE-100 shares Index gained 23.34 points, to close at 42,903.65 points. KARACHI: The Pakistan bourse closed higher on Thursday after witnessing a range-bound … Read more

Pakistan bourse closes lower over political, economic turmoil

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Pakistan bourse closes lower

The Pakistan Stock Exchange KSE-100 shares Index shed 53.98 points, or 0.13 per cent to close at 42,796.85 points. Analysts recommend investors adopt the “Sell on Strength” strategy in the upcoming sessions. The ready market volumes stood at 188.66 million shares, compared with the turnover of 185.53 million shares in the last trading session. KARACHI: … Read more

Pakistan Stock Exchange adds 191 points over positive sentiments

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Pakistan Stock Exchange

The Pakistan Stock Exchange KSE-100 shares Index gained 191.05 points, or 0.46 per cent to close at 42,047.36 points. Analysts expect the market to perform well on the back of fresh dollar inflows. They are suggesting investors adopt a “Buy on Dip” strategy in the upcoming sessions. KARACHI: The Pakistan bourse closed on a higher … Read more

PSX down 157 points over political, economic uncertainty

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PSX down

The Pakistan Stock Exchange KSE-100 shares Index shed 157.20 points, or 0.37 per cent to close at 42,190.03 points. Analysts recommend the investors adopt the “Sell on Strength” strategy in the upcoming sessions. The highest volumes were witnessed in Hascol Petrol with a turnover of 35.21 million shares. KARACHI: The Pakistan equity market closed in … Read more

PSX adds 386 points over positive sentiments

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PSX points

KARACHI: The Pakistan equity market closed in the green territory on Wednesday, owing to positive sentiments over a reduction in the trade deficit and the likely exit of Pakistan from the Financial Action Task Force (FATF) grey list. An analyst at Pearl Securities said that the trade deficit declined 19.17 per cent on a month-on-month … Read more

Pakistan equity market closes slightly up

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Pakistan equity market

The Pakistan equity market closed in the green zone on Thursday after witnessing a range-bound session. The KSE-100 Index settled at 42,085 level, up 0.19 percent. The investors’ participation remained low, which caused the volume to decline sharply. KARACHI: The Pakistan equity market closed in the green zone on Thursday after witnessing a range-bound session … Read more

Pakistan bourse closes lower over Moody’s ‘Caa1’ rating

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Pakistan bourse closes

The Pakistan Stock Exchange KSE-100 shares Index shed 56.16 points, or 0.13 percent to close at 42,155.48 points. Moody’s downgraded the long-term deposit ratings of 5 Pakistani banks to ‘Caa1’ from ‘B3’. The WB and State Bank of Pakistan (SBP) have also cut down growth to two percent for the fiscal year 2023. KARACHI: The … Read more

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