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
KARACHI: Pakistan’s ex-captain Javed Miandad and Pakistan’s former Test pacer Aqib Javed slammed Pakistan Cricket Board (PCB) chairman Ramiz Raja for his drop-in pitches idea to improve national cricket team performance. Ramiz Raja announced on the occasion of the HBL Pakistan Super League (PSL) seventh edition 2022 draft that Karachi and Lahore will get a … Read more
KARACHI: As expected, the Pakistan stock market remained under pressure after the central bank increased the benchmark interest rate by 150 basis points against the general consensus of 100bps. Also, the news of the current account deficit deteriorating to $1.66 billion created further volatility in the market. “For the upcoming week, we expect the market … Read more
KARACHI: The Pakistan stocks continued the bullish run, closing the week with a gain of 1.1 per cent, as easing political tensions and rallying global equities lifted the market sentiment, dealers said. Ahsan Mehanti at Arif Habib Corporation said that the bullish activity continued on surging global equities and Brent crude oil prices to over … Read more
KARACHI: The Pakistan stocks started the first day of the week on a positive note, gaining 163 points during the initial trading hour; however, massive selling was again witnessed at the bourse leading to an abnormal decline of 732 points, dealers said on Monday. “The investors remained focused towards the economic numbers and higher commodity … Read more
KARACHI: Pakistan Stocks witnessed profit-taking session on the first day of the week, as investors wait for the MSCI decision, which is scheduled for Tuesday, while the rupee depreciation and supply chain disruption, resulting in cost pressure for the industries, were the prime reasons behind the lacklustre trading activities. Ahsan Mehanti at Arif Habib Corp … Read more
KARACHI: Fauji Cement Company Limited (FCCL) has announced a net profit of Rs3.47 billion, translating into the earnings per share (EPS) of Rs2.52 for the year ended June 30, 2021, compared with the loss of Rs59.38 million and the loss per share of 4 paisas in the previous year. The company did not announce any … Read more
KARACHI: Pakistan stocks witnessed range-bound session on Tuesday, as the early gains based on S&P ratings affirmation were wiped out by an across-the-board profit-taking, dealers said. Ahsan Mehanti at Arif Habib Corporation said that the stocks closed higher, amid affirmation of S&P ratings of B- long-term and B short-term with stable outlook. “[The] mid-session pressure … Read more
KARACHI: The profit of banking profitability for the half-year ended June 30, 2021 registered a growth of 13 per cent, according to the analysis of Arif Habib Limited. The jump in the half-year earnings of banks listed on the Pakistan Stock Exchange (PSX) was primarily led by significant decline in provisioning expense. On a sequential … Read more
KARACHI: Pakistan stocks continued positive momentum during the week ended August 20, 2021, and analysts expect the market to remain positive in the upcoming week too, attributable to crashing global commodity prices and the ongoing results season, which will keep specific companies under the limelight. “On the other hand, a decline in infection ratio of … Read more
KARACHI: The country’s overall power generation surged 6.6 per cent to 15,680GWh (21,076MW) during July 2021, compared with 14,711GWh (19,773MW) during July 2020, official data suggests on Friday. “The rise in generation is witnessed due to higher generation of nuclear, furnace oil, regasified liquefied natural gas (RLNG), wind, HSD and bagasse,” an analyst at Arif … Read more
KARACHI: Engro Polymer and Chemicals Limited (EPCL) has declared a final cash dividend of Rs7/share along with the financial results for the half-year ended June 30, 2021, which is in addition to an interim dividend of 8 paisas/share already paid to the shareholders. The EPCL announced a net profit of Rs7.26 billion, translating into the … Read more
KARACHI: The MCB Bank Limited on Wednesday announced 11 per cent growth in net profit for the half-year ended June 30, 2021, a bourse filing said on Wednesday. The profit-after-tax of the bank has been recorded at Rs14.88 billion for the period January–June 2021, compared with Rs13.42 billion in the corresponding period of the last … Read more
KARACHI: The United Bank Limited (UBL) has posted an increase of 20 per cent to Rs7.6 billion in its net profit for the half-year ended June 30, 2021, a bourse filing said on Monday. According to the financial results announced by the bank, the profit-after-tax of the United Bank rose to Rs7.6 billion during January–June … Read more
KARACHI: The benchmark KES-100 index gained around one per cent in the outgoing week ended August 6, 2021, and analysts reiterate positive outlook on the market given the emerging improvements in the macroeconomic fundamentals, accommodative monetary policy stance, and the ongoing results season with solid earnings expectations for cyclical stocks. “However, concerns related to inflation … Read more
KARACHI: The benchmark KSE-100 index closed in the red zone on Thursday, where profit-taking was witnessed, owing to the slow business activities due to the imposition of the lockdown, dealers said. Ahsan Mehanti at Arif Habib Corp said that the stocks closed lower on late session selling, amid concerns over the global equity selloff and uncertainty … Read more
KARACHI: The Pakistan equity market started the week on a bullish momentum where optimism prevailed amid exports growing by an impressive 17.3 per cent in July. Moreover, inflation standing at 8.4 per cent also raised the market sentiment. Ahsan Mehanti at Arif Habib Corp said that the stocks showed recovery in the earnings season, amid … 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: The Pakistan stocks witnessed another volatile session where the index fell below a psychological barrier of 47,000 points during the intraday, as the provincial government has been mulling strict measures, including imposition of a complete lockdown, as Covid positivity ratio has reached 30 per cent in the business hub of the country, dealers said. … 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: 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
