Business
Novel Coronavirus effects Pakistan stock market
Karachi, March 17, 2020: Market opened on a negative note today with -319 points and 1.4 million shares traded at the opening bell. Yesterday’s negative close of world financial markets, especially US Markets caused damage to investor sentiment and positive opening of US Futures Indices and rebound of international crude oil prices failed to stem…
Profitability down by 1pc YoY during CY19
Karachi, March 13, 2020: Earnings of the KSE-100 index depicted a dip of 4 percent YoY during 4QCY19 which is owed to decline in earnings from heavy weighted sectors. Based on sectoral weight, this was led by Fertilizer (-19 percent YoY; 15.4 percent weight), E&P (-15 percent YoY; 12.2 percent weight) and Cement (-92 percent…
Oracle announces Fiscal 2020 3rd Quarter Financial Results
Karachi, March 13, 2020: Oracle Corporation (NYSE: ORCL) today announced fiscal 2020 Q3 results. Total Revenues were $9.8 billion, up 2% in USD and 3% in constant currency compared to Q3 last year. Cloud Services and License Support revenues were $6.9 billion, up 4% in USD and 5% in constant currency. Cloud License and On-Premise License…
Global rout in oil is major reason behind lack of investor confidence
Karachi, March 12, 2020: This was the second time during a week, when market halt triggered by 4 percent dip in KSE30 for 5 minutes around 2:13 PM, resulting in market halt of 45 minutes. The previous such session saw market declining by ~2300 points intra-day and today the halt came near ~-1400 points in…
Mutual Fund Report February 2020
Karachi, March 12, 2020: In Feb-20, total Asset Under Management (AUM) of mutual fund industry plunge by 1.8 percent MoM to PKR700 billion, open-end funds tumble by PKR~12 billion and stood at PKR671 billion. Category wise analysis revealed, AUM of Money Market Fund plummet by 0.2 percent MoM ,Equity Funds AUM dip by 10.6 percent…