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Site update: November 17 2017, at 18:00 PKST
Stock update: November 17 2017.

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Friday, November 17 2017

Market watch: Stocks turn positive on the back of retail investor interest
KARACHI: The KSE 100-share Index turned positive on Thursday in the wake of interest shown by retail and small investors, though institutional players stayed on the sidelines for most of the day in anticipation of positive triggers and attractive valuations. Gains were led mainly by small and retail investor activity in mid-cap names while the most notable index names attracted little interest. A major highlight of the day was Engro Corp’s bounce back after shedding value for the past two sessions.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Bank Alfalah partners with Yayvo.com for online purchases
KARACHI: Bank Alfalah and Yayvo.com signed an MoU, allowing Bank Alfalah customers to conveniently purchase items from one of Pakistan’s biggest e-commerce stores, further enhancing the scope of e-commerce and digital payments in the country. Yayvo.com will integrate Bank Alfalah’s payment gateway and power Bank Alfalah’s Orbit Mall for the bank’s loyalty customers, account and card holders. Under this agreement, Bank Alfalah customers will also be able to redeem Orbit reward points and also use Bank Alfalah accounts and credit cards on the revamped Orbit Mall.
Related news categories: business comm-banks company-news economic-indicators ise kse lse misc psx stock-exchanges tech-comm
Related symbols: bafl (news stock)

PSX gains slightly following consecutive bearish sessions
The Pakistan Stock Exchange (PSX) closed in the green on Thursday following successive bearish sessions, with the benchmark KSE-100 index gaining 151 points to close at 40,813. The market opened higher and hovered around the 40,800-mark for most of the session, touching a day's high of 40,886 on the way. Trading remained low on the market with 96.7 million shares, worth Rs5.02 billion, traded in the session. Of the 336 traded scrips, 149 advanced, 159 declines and 28 remained unchanged.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Petrol war continues as PAMA joins fray
KARACHI: A rift among car assemblers has emerged as Pakistan Automotive Manufa­cturers Association (PAMA) has claimed that “all the OEMs are facing serious technical issues due to low quality of fuel.” So far only Honda Atlas Cars Ltd (HACL) has formally lodged a complaint with the Oil and Gas Regulatory Authority (Ogra) about the low quality petrol. In a letter on Nov 13, PAMA has asked the regulator to check the metal contents (including manganese) in the petrol being marketed against the international standards as assemblers are facing serious technical issues due to low quality of the fuel. On the issue of manganese content in petrol, PAMA informed the regulator that addition of manganese is meant to boost the Research Octane Number (RON) of the fuel in the process of achieving a targeted number.
Related news categories: auto-assembler business company-news economic-indicators ise kse lse misc oilgas-marketing psx stock-exchanges
Related symbols: hcar (news stock)

Stocks rebound after 3 bearish sessions
KARACHI - The Pakistan Stock Exchange (PSX) witnessed yet another day of lackluster activity on Thursday, with the 100-index crawling up by 150 points and closing at 40,813 points. Most of the dull activity can be attributed to political uncertainty and lack of positive triggers, brokers said. Equities exhibited positive behavior from start and remained in green throughout the day. Some profit-taking was witnessed which pulled the market lower. Investors turned their attention to penny stocks . Resultantly, d/d traded volumes were up 7% while value was down 26%, observed dealer at Topline brokerage. According to the news, government is contemplating closing the furnace oil power plants which could potentially dent profitability of the power and OMCs sector going forward, stated dealer at JS Global. E&P sector gained to close higher than its previous day close as crude oil prices recouped over growing expectations that OPEC will extend an ongoing production cut agreement. PPL (up 1.03%), POL (1.55%) and OGDC (0.50%) were the major gainers of the mentioned sector. ENGRO (up 1.28%) also recovered after witnessing heavy battering post exclusion from the main MSCI EM index as value buyers jumped in to take advantage of weak price levels, marker participant said.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

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