Business
PSX index keep decline from last three days
Karachi, January 23, 2020: Market traded in the range of -122 points and +345 points, closing the session at -54 points. Cement Sector stocks performed well on the expectation of rate hike in North and meeting among Cement manufacturers. However, later during the session the expectation did not materialize which resulted in Cement stocks losing…
Government proposal on GIDC elimination raises ambiguity on fertilizer prices
Karachi, January 23, 2020: The Government’s decision to withdraw GIDC on fertilizer sector will result in a lot of ambiguity pertaining to future urea prices since the GIDC is not payable on the complete gas mix of all the fertilizer manufacturers. Fatima Fertilizers has GIDC payable on none of its Feed gas whereas Engro Fertilizers’…
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…