KARACHI: The KSE-100 Index lost 404 points to close at 45,676 level during the outgoing week ended February 18, 2022. Going forward, analysts expect the market to remain under pressure after the National Assembly passed the Ogra Amendment bills to bring entire liquefied natural gas (LNG) and re-gasified liquefied natural gas (RLNG) licensing and pricing … Read more
KARACHI: The Pakistan equity market remained under-pressure due to inflationary concerns arising out of the higher fuel prices, as across-the-board selling was observed in the last trading hour, which led the market to close in the red zone. An analyst at Pearl Securities said the market witnessed a lacklustre session and closed in the red. … Read more
KARACHI: The Pakistan stocks witnessed a dull session on Wednesday and closed lower on weak economic outlook, surging local petroleum products prices and widening trade deficit. “Surging local petroleum prices impacting industrial earnings, reports of falling cement sales amid the government cut in the development budgets and a raise in industrial power tariff played a … Read more
KARACHI: The Pakistan equity market witnessed mixed activity on Tuesday, as the investors’ confidence was boosted later in the day with the news of easing tension between Russia and Ukraine. An analyst at Pearl Securities said that the news regarding the pulling back of some Russian troops from the Ukraine border coupled with the decline … Read more
KARACHI: The Pakistan bourse gave up to the selling pressure within an hour of the opening bell, as bears took over for the rest of the day, leading the market to close on a negative note. An analyst at Pearl Securities said the global markets had been down on account of Russia invading Ukraine along … Read more
KARACHI: The benchmark KSE-100 Index increased 0.37 per cent during the week ended February 11, 2022. This positivity in the market can be attributed to good corporate announcement, where higher-than-expected dividend announcement came as a positive surprise for the market. An analyst at Topline Securities said that the MSCI released update on its Quarterly Index … Read more
KARACHI: The State Bank of Pakistan (SBP) has allowed United Bank Limited (UBL) for due diligence to acquire Telenor Microfinance Bank, a bourse filing said on Tuesday. “The SBP had granted in-principle approval to UBL to commence the due diligence of Telenor Microfinance Bank Limited (TMB) for proposed acquisition of 55 per cent sponsor shares … Read more
Interloop Limited plans expansion Despite dismal performance in the second quarter of FY22, Interloop Limited Pakistan (ILP) is favourite for expansion in the growing hosiery segment, improved prices in the international market and relative insulation against macroeconomic headwinds. The ILP’s much-awaited Hosiery Division V has successfully achieved CoD in the third quarter of FY22 with … Read more
KARACHI: The Pakistan bourse gained 1.8 per cent for the week ended January 4, 2022, as investors took positions on financial results speculations and strong rupee recovery; following the approval of $1 billion tranche by the International Monetary Fund (IMF), dealers said, adding that the market would perform well, going forward. The Pakistan Stock Exchange … Read more
KARACHI: The Pakistan Stock Exchange (PSX) likely to open higher following positive cues from the upcoming IMF programme, analysts said. The witnessed dull trading activities during the week ended January 28, 2022 as the investors remained concerned over the uncertainty regarding the International Monetary Fund (IMF) $1 billion tranche along with rising oil prices in … Read more
KARACHI: The Pakistan stocks witnessed a lacklustre and volatile week ended January 14, 2022 and closed 0.92 per cent up, while the analysts believe the index will perform well, going forward. “The passage of the mini-budget should address the fiscal concerns, while the revival of EFF facility with the IMF will not only allow resumption of … Read more
KARACHI: The board of directors of Cnergyico Pk Limited has approved to acquire a 57.37 per cent stake in the Puma Energy Pakistan Private Limited, a bourse filing said on Thursday. Having one of the largest refining capacities in the country, Cnergyico after this acquisition would have the second largest retail fuel network, based on … Read more
KARACHI: The board of directors of Askari Bank Limited (AKBL) has approved the amalgamation of its wholly owned subsidiary Askari Securities Limited (ASL) with and into Foundation Securities Limited (FSL), a bourse filing showed on Tuesday. “The board of directors of Askari Bank Limited (AKBL) had consented to expression of interest (EOI) received by the … Read more
KARACHI: Supernet, a subsidiary of Telecard Limited, up for an initial public offering, is targeting to serve national, as well as international cyber-security needs. With the increase in digitalisation and automation, the demand for IT infrastructure and cyber-security challenges have increased manifold. Globally the year 2020 broke all records when it came to data lost … Read more
KARACHI: The 12MW captive power plant of Flying Cement Company Limited has started commercial operations at its site in Khushab district, a bourse filing said on Monday. This is a significant milestone achieved by the company in line with its strategic objectives of cost rationalisation and optimisation resulting in lower dependency on Water and Power Development … Read more
KARACHI: The board of directors of Cordoba Logistics and Ventures Limited (CLVL) has approved to acquire a 50 per cent stake in Children Clothing Retail (Private) Limited, a bourse filing said on Thursday. With an investment of Rs65 million, CC Retail will become a subsidiary of CLVL on the transfer of 50.0002 per cent stakes … Read more
The number of equity investors in Pakistan declined in the last few years As the stock market is not the reliable indicator of the strength of the economy, oversubscribed initial public offerings (IPOs) also do not reflect the growth and depth of the equity market. Surprisingly, the total number of investors participating in the IPOs … Read more
BEIJING: Chief representative of the National Bank of Pakistan (NBP) in China, Shaikh Muhammad Shariq, has said that his bank is committed to provide maximum banking facilitation to the Chinese businessmen during the second phase of the China-Pakistan Economic Corridor. The NBP has provided maximum banking facilitation during the first phase of CPEC and is … Read more
KARACHI: The Pakistan bourse tumbled on Thursday, as the less-than-expected rate hike and the central bank’s forward guidance was disregarded by the market after the T-Bills target was missed and yields didn’t ease, dealers said. The State Bank of Pakistan (SBP) raised Rs1,285 billion against the target of Rs1,400 billion at an auction held on … Read more
KARACHI: The Pakistan Stock Exchange (PSX) has signed an exclusive data licensing agreement with the leading exchange operator Deutsche Börse for enhancing the depth and coverage of its market data product offerings globally, a statement said on Wednesday. DBAG would be the exclusive licensor of the PSX market data to all current and prospective international PSX … Read more
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 706 points at the opening of the market on Wednesday. The index, however, lost some points and was trading 43,964 points at 09.45am. The market closed at 43,246 points a day earlier. The market made a gain despite a policy rate increase by the … Read more
LAHORE: The 11 companies who are facing 12 Securities and Exchange Commission of Pakistan (SECP) cases, are hiding behind stay orders in the honourable Sindh and Islamabad high courts where they are raising newly extended SECP chairman Aamir Khan’s under performance in legal battles, BOL News has learnt. According to the Pakistan Stock Exchange website, there are … Read more
KARACHI: The Pakistan equity market is poised for a strong year-end performance, owing to the ease-off in the global commodities, improving Pakistan’s macro outlook, International Monetary Fund (IMF)-related uncertainty largely behind and completion of the MSCI-related re-balancing, dealers said. The stocks posted marginal gains during the week ended December 10, 2021, amid depreciating rupee, rising … Read more
KARACHI: Drekkar Kingsway Limited’s (DKL) corporate status stands restored to implement the revival business plan approved by the company’s shareholders in their annual general meeting held on October 22, 2021 The Islamabad High Court on Wednesday December 8, has dismissed the winding up petition against the Drekkar Kingsway Limited (DKL), a bourse filing by DKL … Read more
KARACHI: The Pakistan stocks closed on a positive note on Tuesday, as investors cheered the news flow regarding opposition delaying their protest campaign against inflation, dealers said. An analyst at Pearl Securities said the bulls remained heavy throughout the day. “The market was catapulted above the physiological barrier of 43,000 points in a lacklustre session. … Read more
KARACHI: Pakistan Stock Exchange (PSX) has listed a second company on its Growth Enterprise Market (GEM) Board within 10 days, while a significant number of offerings are in line, bourse’s top official said, as Universal Network Systems Limited (UNS) commenced trading on Monday. “This listing comes in quick succession to the first listing on the … Read more
KARACHI: Clover Pakistan Limited has been placed in the defaulter’s segment by the National Clearing Company of Pakistan Limited, a notice issued by the NCCPL said on Monday. Clover Pakistan has been placed in the defaulter’s segment effective from Monday, December 6, 2021, it added. The placement of the company in the defaulter’s segment will … Read more
KARACHI: The depreciating rupee, rising deficits and anticipation of sharp jump in interest rates dragged the Pakistan stocks down 2 per cent during the week ended December 3, 2021, dealers said. However, with the ease in the global commodities improving Pakistan’s macro-outlook, the International Monetary Fund (IMF)-related uncertainty largely behind and the MSCI-related rebalancing, the … Read more
