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Site update: April 25 2019, at 18:15 PKST
Stock update: April 25 2019.

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Thursday, April 25 2019

PSX close of day
KARACHI: BRINDEX-30 closed on the upper side on Wednesday at 19,515.59 points with a positive change of 104.75 and volume of 75,443,100 shares. High and Low were 19,788.99 and 19,367.29 respectively. Of 30 companies traded, 13 were up, 17 were down and 0 was unchanged. Total volume traded in the market was 115,987,630 shares. Total companies traded were 336 of which 133 were positive, 183 were negative and 20 were unchanged. Cement was the top traded sector with total traded volume of 23,390,700 shares. It was followed by Commercial Banks with a total traded volume of 17,694,600 shares.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Dollar remains unchanged in interbank, closed at Rs 141.39
ISLAMABAD: The exchange rate of Dollar remains unchanged in interbank and traded at Rs 141.39, State Bank of Pakistan (SBP) reported on Wednesday. However according to Forex Association of Pakistan the opening and closing rates of Dollar in open market recorded at Rs 141.50 and Rs 142.00. The SBP reported that in interbank, the price of Euro decreased by 49 paisa after which it was traded at Rs 158.63 as compared with the last closing at Rs 159.12. The price of Japanese yen remains unchanged at Rs 1.26, while the decrease of 92 paisa was witnessed in exchange rate of British Pound which was traded at Rs 182.86 against Rs 183.78. Exchange rates of UAE Dirham and Saudi Rayal remain unchanged and traded at Rs 38.49 and Rs 37.70 respectively.
Related news categories: business misc

Mehran Sugar Mills Limited
Mehran Sugar Mills Limited (PSX: MRNS) is the flagship company of the Hasham group, and one of the oldest sugar mills in the country. Established in 1965, the company is mainly concentrated in sucrose production, with diversification into ethanol, power generation and farming. The sugar mill is located in district Tando Allahyar, Sindh, whereas registered offices are located in Dolmen Executive Tower, Karachi. Pattern of shareholding The pattern of shareholding reveals that the majority of MRNS shares are held with directors of the company. The largest percentage of shares is held with the sponsor directors of the company namely members of the Hasham family and their dependents, whose cumulative share stands at 77 percent of total shareholding. The largest group of shareholders after members of the sponsor family is of general public, who together hold close to 22.1 percent of the shares. Largest shareholder is State Life Corporation with a shareholding of just one percent. F & B Bulk Storage (Private) Limited and Bulk Management Pakistan (Pvt.) Limited are private non-shareholding group companies listed as associate entities based on common directors.
Related news categories: business company-news economic-indicators ise kse lse misc psx stock-exchanges sugar
Related symbols: mrns (news stock)

Treet Corporation Limited
Treet Corporation Limited (PSX: TREET) needs no introduction and is amongst the largest conglomerates in Pakistan. Though its inception dates back to pre-partition, the Treet Group became a public listed company in 1977. Treet Group of Companies (TGC) is a consortium of six entities with Treet Corporation Limited (TCL) as the Holding Company. The company is involved in the manufacturing of razor blades, which is the largest segment and has also traditionally been the star performer in terms of revenue and profitability. It also manufactures soap, corrugated packaging, as well as motorbikes. Recently, the group has ventured into production and trading of batteries for UPS and automobile sector as well. But the diversification spree does not stop there. The Treet Group also made a move in the pharmaceutical sector last year with the acquisition of the majority stake in Renacon Pharma Limited, which is a dialysis medication manufacturer. Treet has become a significant player in exports over the years. Currently, Treet is exporting its products to over 35 countries around the globe with the majority going to the Middle East, China and Bangladesh respectively.
Related news categories: business company-news economic-indicators ise kse lse misc personal-care psx stock-exchanges
Related symbols: treet (news stock)

Wall Street treads water after record-breaking session
LONDON: Wall Street was flat on Wednesday as investors digested a round of mixed earnings reports a day after a record-breaking session in New York failed to spark a global rally. A raft of better-than-forecast earnings results for US corporate giants had catapulted New York’s S&P 500 and tech-heavy Nasdaq indices to all-time peaks on Tuesday, while the Dow Jones Industrial Average came close. However the surge failed to translate into significant gains in markets around the globe, and some less positive results on Wednesday led to cautious trading at midday on Wall Street. Among the disappointments were Caterpillar and Boeing, which said the global grounding of its 737 MAX planes — sparked by two deadly crashes — would cost $1 billion. The US planemaker also reported lower profits, but its share price still rose by 0.7 percent, likely due to relief that the damage was not worse. Briefing.com analyst Patrick O’Hare wrote that investors might also be hesitant due to disappointing economic news out of Germany and Australia.
Related news categories: business misc stock-exchanges

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