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Site update: April 20 2021, at 15:45 PKST
Stock update: April 20 2021.

Recent Financial News in the 'psx' category

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Tuesday, April 20 2021

Stock market loses 392 points
ISLAMABAD - The KSE 100-index of the Pakistan Stock Exchange (PSX) Monday witnessed bearish trend, losing 392.06 points, with negative change of 0.87 per cent, closing at 44,913.57 points against 45,305.63 points on the last working day. A total of 363,097,593 shares were traded during the day compared to the trade of 173,522,529 shares the previous day whereas the price of shares stood at Rs12.713 billion against Rs8.743 billion the previous day. As many as 379 companies’ transacted shares in the stock market, 109 of them recorded gain and 255 sustained losses whereas the share price of 15 companies remained unchanged. The three top traded companies were Worldcall Telecom with a volume of 101,378,000 shares and price per share of Rs1.56, Byco Petroleum with a volume of 24,252,500 and price per share of Rs10.02 and TRG Pak Ltd with volume of 23,396,241 and price per share of Rs65.19. Mari Petroleum witnessed maximum increase of Rs46 per share, closing at Rs1,615.56 followed by Rafhan Maize XD, share prices of which increased by Rs44.50, closing at Rs9,250. Colgate Palm recorded maximum decrease of Rs90 per share, closing at Rs2,660 whereas Nestle Pakistan XD was runner up with the decrease of Rs 56.82 per share, closing at Rs5,710.
Related news categories: business economic-indicators misc psx stock-exchanges

Monday, April 19 2021

Byco begins work to produce Euro-5, 6 fuel
ISLAMABAD: Byco refinery has commenced work on establishing an upgraded plant to convert furnace oil into Euro-5/6 petrol and diesel. In January this year, Byco Petroleum Pakistan Limited conducted the groundbreaking of the project titled “Upgrade-1”. Pakistan’s fuel mix has evolved rapidly in the past four years. Until mid-2017, furnace oil or fuel oil was the main feedstock for power plants. This was switched overnight to liquefied natural gas (LNG) in October 2017 by the government’s order. Suddenly, hydro-skimming refineries had no market left for fuel oil and were at pains to store it.A byproduct of mak ing gasoline, diesel and other outputs of hydro-skimming, furnace oil was even exported by Byco in January 2020 to lessen financial losses that it incurred. The plant will clean diesel and gasoline down to 10 ppm of sulphur to comply with Euro-5/6 standards. Byco has started civil works and delivery of equipment has also been initiated, Byco Petroleum Chairman Mohammad Wasi Khan told journalists.
Related news categories: business economic-indicators misc oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: byco (news stock)

Friday, April 16 2021

PSX one of best performing markets in Asian region
ISLAMABAD - Managing Director and Chief Executive Officer (CEO) of Pakistan Stock Exchange (PSX) Farrukh H. Khan on Thursday said stock market of Pakistan was one of the best performing markets in Asian region and major player in the market. This was in a large part due to the proactive and aggressive monetary, fiscal, social and other measures taken by State Bank of Pakistan (SBP), said Managing Director of PSX Farrukh H. Khan. Addressing at a ceremony after the visit of Governor State Bank of Pakistan (SBP) Dr Reza Baqir to PSX, he said, “I would also like to acknowledge the role of Security and Exchange Commission of Pakistan (SECP), our trec holders, PSX board and management, all of whom have worked together, under very challenging circumstances, to deliver this success”. He said a large and liquid stock market was a prerequisite for a modern economy, said a press release issued here.
Related news categories: business economic-indicators misc psx stock-exchanges

Thursday, April 15 2021

Stocks add 262 points on economic optimism
KARACHI: The stock market continued northward drive on the first day of Ramazan as the benchmark KSE-100 index added 262.65 points, or 0.58 per cent, to overnight gains closing at 45,311.22 on Wednesday. The investor optimism was triggered by the positive numbers including the 7.45pc growth in large-scale manufacturing during the first eight months of the current fiscal year and 34pc jump in private sector’s borrowings from banks in 9MFY21 despite Covid-19 challenges suggesting the economic activities are picking up momentum. Also, according to Arif Habib Ltd (AHL), the proximity to announcement of quarterly corporate results made investors take a positive view on the market. Buying activity was observed in cyclical sectors such as autos, cement and steel.
Related news categories: business economic-indicators misc psx stock-exchanges

Bullish trend continues at PSX
ISLAMABAD - The KSE 100-index of the Pakistan Stock Exchange (PSX) Wednesday continued with bullish trend, gaining 262.65 points, with positive change of 0.58 per cent, closing at 45,311.22 points against 45,048.57 points on the last working day. A total of 341,889,381 shares were traded during the day compared to the trade of 473,433,751 shares the previous day whereas the price of shares stood at Rs16.442 billion against Rs18.455 billion the previous day. As many as 380 companies’ transacted shares in the stock market, 219 of them recorded gain and 137 sustained losses whereas the share price of 24 companies remained unchanged. The three top traded companies were F. Nat Equities with a volume of 43,109,500 shares and price per share of Rs11.93, Media Times Ltd with a volume of 20,207,000 and price per share of Rs3.45 and Ghani Glo Hol with volume of 19,479,500 and price per share of Rs32.27. Sapphire Fiber witnessed maximum increase of Rs47.99 per share, closing at Rs879.99 followed by AKD Capital, share prices of which increased by Rs32.97, closing at Rs475.12.
Related news categories: business economic-indicators misc psx stock-exchanges

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