Business
Stock market declines on oil crisis
Karachi, April 21, 2020: Market opened -478 points today and continued the descent throughout the session, which extended to -1199 points by the end of session. The benchmark index closed -1078 points. Concerns raised by IMF over G20 debt relief, announced last week by the Government, as well as hinting higher than expected inflation with…
LSM declines by 1.15 percent YoY during Feb-2020
Karachi, April 21, 2020: Large scale manufacturing (LSM) contracted by 1.15 percent YoY during the month of Feb-2020, compared to a decline of 5.96 percent YoY in Jan-2020. On MoM basis, LSM contracted by 0.91 percent. After this month, LSM decline in 8MFY20 amounted to -3.03 percent YoY. The decline in LSM was relatively muted…
Oil prices turns into negative territory
US running out of places to store oil Islamabad, April 21, 2020:In a bizarre movement in the oil market, the oil prices turns Into negative territory on Monday. The price of a barrel of oil went negative due to lower demand and uncertainty in the oil market. The Future contract for the month of May…
Petroleum dealers are at brink of bankruptcy
Govt must intervene immediately to save petroleum sector, new profit formula imperative for dealers: Ghiyas Paracha Karachi, April 20, 2020: Leader of the Petroleum Dealers Association and All Pakistan CNG Association Ghiyas Abdullah Paracha on Monday said the petroleum dealers have reached to the brink of bankruptcy due to uncertain conditions and nationwide lockdown. The…
PSX gains 668 points on Monday
Karachi, April 20, 2020: Market continued the ascend on Monday after posting the historical gains on Friday, when the market witnessed halt due to 5 percent cap on index. Market went up by 1026 points during the session and saw profit booking earlier in the session that brought the gains below +300 points. Cement sector…