Business
Textile exports nosedive 65pc YoY in Apr-2020
Karachi, May 19, 2020: As was generally expected in such a severe pandemic scenario with major trade hindrances and low global demand, textile exports severely suffered in Apr-2020, declining by 65 percent YoY to US$404 million. Sales for all major categories plummeted during the month, with the most severely hit being garments. Cumulatively, textile exports…
Standard Chartered Pakistan posts quarterly profit of PKR 8.8bn for 1Q2020
Highlights: Highest ever quarterly profit of PKR 8.8 billion (before tax); up 30 percent YoY Total Deposits cross PKR 500 billion milestone; up by 10percent Overall Revenue grows by 27 percent Client Revenue increases by 42 percent CASA to deposits ratio of 94 percent; one of the best in class Karachi, May 19, 2020: Standard…
PSX closed at an increase of 354pts
Karachi, May 19, 2020: Market opened on a positive note today and went up by 546 points during the session, closing +318 points (unadjusted). Increasing international crude prices helped E&P, OMCs and Refinery sectors contribute to the growth in index. Besides, Pharmaceuticals posted price gains on the back of prospects of working towards cure for…
Mutual Fund report April 2020
Karachi, May 18, 2020: In April-20, total Asset Under Management (AUM) of mutual fund industry grew by 14 percent MoM to PKR766 billion, open-end funds augmented by PKR~91 billion and stood at PKR736 billion. Category wise analysis revealed, AUM of Equity Fund increased by 21 percent MoM (PKR20 billion), Money Market Funds AUM improved by…
PSX closed at a decline of 203pts
Karachi, May 18, 2020: Post rate cut on Friday, market posted some gains today, showing an upside of 385 points earlier in the session, however, profit booking caused Index to slide posting a decline of 238 points during the session and closing -203 points. Banking sector primarily caused the plunge resulting in across the board…