Business
PSX index closed with an increase of 90pts
Karachi, May 13, 2020: Market opened on a positive note today with +125 points and maintained the momentum from yesterday, gaining 200 points before facing resistance. MSCI rebalancing did not result in HBL’s ouster, which is the main reason for selling pressure in HBL in the past sessions. HBL posted price gains but still stayed…
No car sales recorded in April 2020 amidst COVID-19 lockdowns
Karachi, May 12, 2020: The lockdown due to COVID-19 imposed by the Federal and Provincial government in the later half of March 2020 till date has resulted in no car sales during April 2020, as reported by PAMA. The lockdowns has resulted in closure of plants operations along with car dealerships across the country. As…
NBP profit before tax declined 6pc
Karachi, May 12, 2020: The 71st Annual General meeting of National Bank was held on May 12, 2020 through electronic means. The meeting that was initially scheduled to be held on April 24, 2020, was suspended till date due to the Covid-19 lockdown. The meeting was attended by all the members of the NBP Board…
PSX index closed at a positive note
Karachi, May 12, 2020: Market went positive on the prospect of rate cut for which SBP will be taking decision by end of week, besides the Govt’.s stance on construction of Dams that is likely to generate demand for Cement and Steel. Resultantly, Cement and Steel sectors ruled the index, mostly trading near upper circuits…
Cost Audit of 5 sectors should continue to maintain competition: CCP
Karachi, May 12, 2020: The Competition Commission of Pakistan (CCP) has issued a Policy Note recommending that the Securities & Exchange Commission of Pakistan (SECP) restore the requirement of cost audit of five sectors in particular, and all other sectors in general, for facilitating policy interventions and promoting competition. The CCP’s specific recommendation is the…