KARACHI: The Pakistan Stock Exchange (PSX) announced temporary changes in the duration for closing price determination and market timings, bourse filing said on Thursday. The temporary changes come in the context of reclassification of Pakistan from the MSCI Emerging Market Index to MSCI Frontier Market Index, it added. The ‘closing price’ of securities will be … Read more
KARACHI: The Pakistan stocks witnessed yet another profit-taking session, amid higher inflation concerns, monetary tightening, and pressure persisting on the currency; thus, resulting in massive sell-off across-the-board on Tuesday. An analyst at Pearl Securities said for the second consecutive session, cement and technology sectors cumulatively eroded 329 points from the index. “Investors were panicked during … Read more
KARACHI: The Pak-Kuwait Investment Company (PKIC) has been added to the list of market makers for debt securities at the Pakistan Stock Exchange (PSX) and an agreement to this effect was signed on Tuesday. PSX managing director and chief executive officer Farrukh H Khan and PKIC managing director Mubashar Maqbool signed the agreement. A gong … Read more
KARACHI: The Pakistan Stock Exchange (PSX) made it mandatory for the Trading Right Entitlement (TRE) certificate holders to segregate customers’ funds and securities from their own funds, a statement said. “Every TRE certificate holder is to ensure the protection of its customers’ funds and securities at all times and must refrain from comingling of its … Read more
KARACHI: Pakistan’s equity market witnessed massive profit-taking on Monday where the index dropped below 46,000 points, dealers said. An analyst at Pearl Securities said cement and technology sectors cumulatively eroded 351 points from the index, as the State Bank of Pakistan (SBP) raised the policy rate by 150bps; thus, the effect was seen in the … Read more
KARACHI: The Pakistan stocks are expected to come under pressure after the State Bank of Pakistan (SBP) increased the benchmark interest rates by 150bps against the general consensus of 100bps to 8.75 per cent, dealers said. An analyst at AKD Securities said the news of the current account deficit deteriorating to $1.7 billion would also … Read more
KARACHI: The Pakistan stocks remained in the positive trajectory due to the market consensus of an increase in the interest rate and investors’ interest mostly inclined to the banking sector, dealers said on Friday. “The market will witness rollover next week. Going forward, we believe participants will continue to await clarity on [the] IMF [International … Read more
KARACHI: The Central Depository Company (CDC) launched Pakistan’s first professional clearing member (PCM) in collaboration with the Pakistan Stock Exchange (PSX) and the National Clearing Company of Pakistan Limited (NCCPL), a statement said on Wednesday. The new PCM regime, launched under the regulations of the Securities and Exchange Commission of Pakistan (SECP) has been successfully … Read more
KARACHI: Uncertainty in neighbouring Afghanistan, continuous depreciation in the rupee value and hike in the international commodities prices have shook the confidence of the local and foreign investors, which was reflected in the trading activity at the equity market. “Getting down unabatedly, the market capitalisation of the Pakistan Stock Exchange (PSX) stands below $50 billion … Read more
KARACHI: Muhammad Yunus Tabba has been re-appointed as the chairman of the board of directors and Muhammad Ali Tabba as the CEO of Lucky Cement, a statement said on Monday. The board of directors of Lucky Cement Limited announced the re-appointment of Muhammad Yunus Tabba as the chairman of the board of directors for another … Read more
KARACHI: Pakistan Cricket Board (PCB) chairman Ramiz Raja on Tuesday sought support from the business community to inject money into the infrastructure of cricket. While addressing the business community at a gong ceremony held at Pakistan Stock Exchange (PSX), he said that the main purpose of his visit to Karachi was to boost the cricket … Read more
The Pakistan Stock Exchange (PSX) witnessed a sharp decline last week, with the 100 Index falling by more than 1,500 points. According to the details, the Pakistan Stock Exchange (PSX), 100 Index has declined by 1562 points during the last week. During September 20-24, 2021, 1.91 billion shares were traded in the stock market while … Read more
KARACHI: The Pakistan bourse witnessed profit-taking on Tuesday, and the KSE-100 Index failed to sustain the 48,000 level due to the rollover week and the key results announced by the Pakistan State Oil (PSO) and Engro turned out to be short of expectations, dealers said. Ahsan Mehanti at Arif Habib Corp said that the stocks … Read more
KARACHI: Pakistan stocks witnessed a lacklustre and range-bound week ended August 13, 2021, while analysts anticipate the market to remain positive next week, given the expectation of strong results in the ongoing season. “Meanwhile, concerns over the Covid-19 fourth wave may keep the sentiment skittish. Further, the prevailing tensions in Afghanistan with the continuing withdrawal … Read more
LAHORE: The Pakistan Stock Exchange’s (PSX) most followed benchmark KSE-100 index is celebrating its 30 years of existence. The KSE-100 index is a total return market capitalisation-based index, which was created in 1991 with a base value of 1,000 points. Umair Naseer, associate director research at Topline Securities, said that following international best practices, the … Read more
KARACHI: The benchmark stocks lost 1.5 per cent during the week ended July 30, 2021, and analysts predict a volatile week ahead as the Sindh government has imposed a strict lockdown, amid corporate results announcement season, dealers said on Saturday. An analyst at Arif Habib Limited said with the result season commencing, and cyclical expected … Read more
KARACHI: In line with the selloff in global equity markets, the local bourse witnessed profit-taking, as Covid cases keep on increasing, leading to more stringent lockdowns, dealers said on Wednesday. An analyst at Pearl Securities said the market witnessed a bearish session and closed in the red zone due to the substantial rise in the … Read more
KARACHI: Pakistan’s equity market witnessed a profit-taking session on the first day of the week, as lockdown implications started in some cities due to the resurgence of novel coronavirus, dealers said. Ahsan Mehanti at Arif Habib Corp said that the stocks closed lower in the earnings season on investors’ concerns over weak economic outlook and … Read more
KARACHI: At the end of a dull and shortened week, analysts expect the stock market to remain range-bound to positive in the upcoming week, attributable to the beginning of the results season, which will keep specific companies in the limelight. “[The] exploration and production (E&P) scrips could perform well due to [the] higher international oil … Read more
KARACHI: The Pakistan equity market started the week on a dull note, whereas the overall investors’ sentiment remains weak given the three-day Eid holidays and the rising cases of the Covid-19. Moreover, the interbank rate for the dollar reached the highest level in the last nine months, which also keeps the bulls away from the … Read more
KARACHI: The Pakistan stocks saw some gains in the outgoing week, despite a continued rise in the Covid cases, and the market is expected to continue the same momentum next week. “We highlight cyclical sectors to be in the limelight due to healthy earnings expected in the upcoming results season. That said, the Covid’s fourth … Read more
KARACHI: The Pakistan’s equity market continued to witness a bullish session with stable volumes as the central bank’s reserves hit an over four-year high after the country received $1 billion Eurobond proceeds, though, the market is still suffering from the political uncertainty in Afghan region and accumulating Covid cases, dealers said. An analyst at Arif … Read more
KARACHI: After a lacklustre and range-bound outgoing week, analysts expect the stock market to pick up pace next week. “The results season is about to commence and we think that cyclical sectors can once again attract the limelight on the back of robust economic activity,” an analyst at Arif Habib Limited said. Moreover, oil prices … Read more
KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) on Tuesday said that the adjustment of carry forward capital losses will be made on the basis of investors’ name on the Active Taxpayers List (ATL). In an information to stockbrokers and market participants, the NCCPL said that the computation of the capital gains tax (CGT) … Read more
KARACHI: The Pakistan equity market started the week on a negative note where the bourse witnessed high selling pressure on the back of uncertainty, which gripped the Afghanistan region as the US quit its last Afghan air base. Moreover, weak investors’ sentiment was also observed on account of the fourth wave of the Covid pandemic. … Read more
KARACHI: The Pakistan Stock Exchange (PSX) held a gong ceremony to welcome BankIslami Pakistan Limited as the “Market Maker” for the Shariah-compliant debt securities listed at the bourse, a statement said on Monday. The management of the stock exchange welcomed the BankIslami team and started the proceedings by striking the gong to mark the beginning … Read more
KARACHI: A total of eight Initial Public Offering (IPO) transactions were witnessed at the equity market during FY21, aided by a stark turnaround in the economy post-initial outbreak of the Covid-19 pandemic. Total transactions included seven new listings, The Organic Meat Company, TPL Trakker Limited, Agha Steel Industries Limited, Panther Tyres Limited, Service Global Footwear … Read more
KARACHI: The Pakistan Stock Exchange ended the fiscal year FY21 in the green territory with a gain of 218 points on the last trading session on Wednesday. Ahsan Mehanti at Arif Habib Corp said the stocks closed bullish at the year-end, as investors’ weighed higher global crude oil prices, National Assembly passing the Finance Bill … Read more
