Pakistan equities fell by 487 points at 48,520 on February 28, 2017KARACHI: Pakistan stocks closed sharply lower on Monday amid political uncertainty, weak sentiments, and the absence of triggers. The benchmark KSE 100 index fell by 487 points or 1 percent to 48,520 level. The market remained under pressure across the board due to concerns for the outcome of regulatory action over defaulting brokerages. Weak sentiments […]
Bears drag index below 49,000 level amid pressure in energy, fertilizer stocks on February 21, 2017KARACHI: Pakistan stocks slipped below the 49,000 level amid pressure in energy and fertilizer stocks. The benchmark KSE 100 index closed at 48,929 level, declining by 446 points. SECP’s stringent compliance measures and future rollover week commenced on Monday which also added to the downslide. “Stocks closed bearish amid pressure in energy and fertilizer stocks […]
C/A deficit swells by 90% in 7MFY17 on February 18, 2017KARACHI: Declining exports, worker remittances and foreign exchange inflows continue to dent Pakistan’s balance of payments as the country’s current account deficit swelled by 90 percent in the first seven months of current fiscal year 2016-17, 7MFY17. According to statistics issued by State Bank of Pakistan (SBP), the current account deficit widened to $4.7 billion […]
Current account deficit swells by 90% in 7MFY17 on February 18, 2017KARACHI: Declining exports, workers’ remittances and foreign exchange inflows continue to dent Pakistan’s balance of payments as the country’s current account deficit swelled by 90 percent in the first seven months of current fiscal year 2016-17, 7MFY17. According to statistics issued by State Bank of Pakistan (SBP), the current account deficit widened to $4.7 billion […]
Pakistan stocks take sharp plunge, Index sheds 553 points on February 16, 2017Karachi: Pakistan equities took a sharp dip on Wednesday amid security concerns and measures being taken by the regulator to enhance and improve risk management regime. The Index continued its declining trend by shedding 553 points or 1.13 percent to close down at 49,214 level, mainly due to rumors of margin selling. Reduction in the […]
Pakistan stocks close 40 points up following profit-taking on February 14, 2017Karachi: Pakistan equities fail to close at a record high against the expectations of market players following profit-taking at the closing session. The benchmark index gained 397 points during intraday trading but lost the gains amid profit taking to close up by 40 points at 49,965 level. Start of the week was on a positive […]
End signature bonus and premium to lower LPG prices on February 10, 2017Karachi: The distributors of Liquefied Petroleum Gas LPG have sought the government’s intervention to get them rid of what they call ‘signature bonus’ and ‘premium’ being unjustly charged by the LPG producers, both private and public. The distributors have termed these charges as ‘extortion’ and a causative factor in the LPG prices hike. “If this […]
Pakistan stocks close flat amid international oil price plunge on February 9, 2017Karachi: Pakistan equities closed almost flat on Wednesday amid pressure in oil stocks following a dip in international oil prices to near $52/barrel. The benchmark KSE 100 index closed; up by 15 points or 0.03 percent to 49,874 level. Filch affirmed Issuer Default Ratings, renewed institutional interest in banking and cement stocks supported the index […]
Pakistan equities close bullish amid thin trade on February 7, 2017Karachi: Pakistan equities closed bullish amid thin trade on late session support in cement, fertilizer and auto scrips. The market witnessed positive sentiment during the day as the index hit intraday high of 49,739 points but profit-taking in later half limited the gains to 74 points to close at 49630.04 level. Concerns for surge in […]
Pakistan stocks succumb to selling pressure amid US travel ban, SECP measures on February 5, 2017Karachi: Pakistan equities succumbed to selling pressures early in the week following imposition of travel bans on travelers from 7 Muslim nations with hints of extending it to Pakistan, and SECP notices to brokers regarding in-house financing. However, the benchmark index staged a mid-week recovery amid news of the Panama case hearing being adjourned due […]