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Site update: March 18 2019, at 17:15 PKST
Stock update: March 18 2019.

Recent Financial News in the 'economic-indicators' category

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Tuesday, March 12 2019

Market watch: KSE-100 inches down amid massive foreign selling
KARACHI: The stock market had another dull session on Monday as many investors stayed away in the absence of major triggers and the benchmark index finished its fifth successive session in the negative territory. Despite a bullish open, the KSE-100 index failed to sustain the momentum and fell into the red zone. Investors cheered news of expected inflow of $4.1 billion, which would boost foreign currency reserves of Pakistan. However, weak domestic cues and a lack of triggers sparked selling pressure. Sentiments were further dented as India announced that it had blocked Pakistan’s waters from its three eastern rivers. At the end of trading, the benchmark KSE 100-share Index recorded a decrease of 26.12 points, or 0.07%, to settle at 38,924.11.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Punjab aims to achieve 7% economic growth by 2023
LAHORE: After seven months in power, the provincial government of Punjab has revealed its growth strategy for 2018-23, reflecting the Pakistan Tehreek-e-Insaf’s (PTI) long-term plan. The five-year plan is aimed at developing a people-centric growth strategy and addressing fundamental and structural imbalances in Punjab. Economic managers of the province want to move towards sustainable and regionally equitable economic growth. The strategy simultaneously points out the fragile national macroeconomic situation, mounting fiscal and external deficits, rapid currency depreciation along with rising capital costs as the biggest challenges while implementing the policy.
Related news categories: business economic-indicators misc

Govt to form new zones for oil, gas exploration
ISLAMABAD: Prime Minister Imran Khan on Monday gave in principle approval to unveil a comprehensive package which includes offering better prices to oil and gas exploration companies drilling in risky areas of Balochistan and Khyber Pakhtunkhwa (K-P). Under the new plan, there would be a shift from regulatory framework to information based system to end bureaucratic hurdles for exploration companies doing business in Pakistan. The government would offer better ‘wellhead price’ to the oil and gas exploration companies in two new zones comprising a high-risk area of Balochistan and the K-P areas bordering with Afghanistan – in order to boost oil and gas production. The government has also decided to set up a special force to ensure the security of foreign companies.
Related news categories: business economic-indicators misc oilgas-exploration oilgas-marketing

Remittances rise 12% as workers rely on legal channels
KARACHI: The remittances sent home by overseas Pakistani workers increased 12% to $14.35 billion in first eight months (July-February) of the current fiscal year 2018-19 due to efforts made to encourage people to send the money through proper banking channels. They had sent $12.83 billion in the same period of previous fiscal year, the State Bank of Pakistan (SBP) reported on Monday. “The growth in remittances is in line with the State Bank of Pakistan’s projections and government’s efforts to push overseas workers to send remittances through proper legal channels,” Arif Habib Limited Head of Research Samiullah Tariq told The Express Tribune.
Related news categories: business economic-indicators misc

PSX close of day
KARACHI: BRINDEX-30 closed on the upper side on Monday at 21,214.28 points with a positive change of 57.89 and volume of 44,357,100 shares. High and Low were 21,369.49 and 21,184.37 respectively. Of 30 companies traded, 18 were up, 12 were down and 0 was unchanged. Total volume traded in the market was 67,742,960 shares. Total companies traded were 339 of which 148 were positive, 167 were negative and 24 were unchanged. Commercial Banks was the top traded sector with total traded volume of 21,093,400 shares. It was followed by Cement with a total traded volume of 7,591,400 shares.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

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