Business
PSX index closed with a decline of 65pts
Karachi, January 22, 2020: Market had an interesting session today, which saw OGDC going lower circuit and then bouncing back strongly to close at day’s rate and above market average. Similar activity was observed in PPL, which although didn’t touch lower circuit, but faced likewise selling pressure. The news that concerned investors was likely selection…
Way forward towards revival of Pakistan steel
Karachi, January 21, 2020: Pakistan Steel Mill BoD’s 407th meeting was held on 16th January, 2020 at Karachi wherein Hon’ble Chairman BoD Mr. Aamir Mumtaz has briefed about the ongoing plans to be carried out towards revival of organization, execution within schedule time frame and post transaction activates inasmuch as its successful achievement through PPP…
Pakistan Energy Sukuk-2 of Rs 200bln to be released soon
Karachi, January 21, 2020: After the approval by the ECC yesterday, we expect the Energy Sukuk-2 of Rs200 billion to be released soon, as the meeting with IMF starts on Feb 3, 2020. The payment will be directed towards the power sector (i.e. Gencos, Hub Power, Kot Addu Power, Nishat IPPs, AES IPPs etc.), we…
PSX market show more decline in 121pts
Karachi, January 21, 2020: Market continued facing downward pressure with the benchmark index slipping 409 points after registering an increase of 218 points earlier in the session. PSO, among oil & gas plays and FFBL, among Fertilizer, contributed positively to the index, however, selling in Cement, Steel, E&P and Refinery sectors faced selling pressure, whereas…
PSX index decline 420pts on Monday
Karachi, January 20, 2020: First day of the change in circuit breaker met with an overall negative performance on the bourse. After an initial surge of 135 points, market largely remained under selling pressure throughout the session and went down by 535 points during the session. MoC showed recovery of around 100pts from day’s low…