stock alerts
stock screener
search stocks using your criteria

Site News

Main features: company information, stock markets, stock filters, intraday charts, alerts, portfolio, customized searches (details)
Site update: August 15 2022, at 17:00 PKST
Stock update: August 15 2022.

Recent Financial News in the 'stock-exchanges' category

Login or sign up to search news items.

Monday, August 15 2022

Optimism over IMF tranche keeps stock market bullish
The three-day week on the stock exchange commenced on a positive note last Wednesday amid optimism over the disbursement of loan tranche from the International Monetary Fund (IMF) in the coming weeks. Arif Habib Ltd said the materialisation of the $1.18 billion loan tranche will pave the way for further loans and investments from friendly countries and international financial institutions. Moreover, the rupee strengthened again in the outgoing week against the greenback and appreciated by 8.55 or 3.82 per cent from a week ago to close at 215.49. In addition, investors’ confidence improved after Pakistan received a letter of intent to the IMF, indicating the disbursement of the tranche for the combined seventh and eighth reviews. As a result, the benchmark index of the stock market closed at 42,858 points, registering a net gain of 761 points or 1.8pc on a week-on-week basis. Sector-wise, positive contributions came from banks (224 points), exploration and production (205 points), power (84 points), automobile assembling (55 points) and oil and gas marketing (53 points). Sectors that contributed negatively were cement (23 points) and tobacco (15 points).
Related news categories: business economic-indicators psx stock-exchanges

Engineering firm to delist amid ‘tough’ environment
Low sales and “structural changes” in the energy exploration and production (E&P) industry have caused “serious concerns” about the ability of Ados Pakistan Ltd — a stock exchange–listed entity engaged in the supply of oil and gas field–related equipment — to continue its regular operations. As a result, the engineering company has decided to delist itself from the Pakistan Stock Exchange (PSX) by buying back its own shares currently held by minority shareholders. “The Voluntary Delisting Committee of the PSX… has approved the minimum buyback price of Rs29 per share,” the stock exchange said in a regulatory notice on Aug 11. The front-line regulator said the company will “qualify for delisting” only if its minimum quantum of the shareholding purchase is 342,800 shares, which is 25 per cent of 1.37 million shares outstanding with the minority shareholders. The company’s current stock price is Rs26 apiece.
Related news categories: business company-news economic-indicators engineering psx stock-exchanges
Related symbols: ados (news stock)

Friday, August 12 2022

Stocks snap five-day rally on political noise
Pakistan equities observed a mixed day on Thursday as the market carried forward the fresh bullish momentum initially and made an intraday high of 184 points. However, profit-taking kicked off at that level, bringing the benchmark index to the intraday low of 279 points, said Topline Securities. Ahsan Mehanti of Arif Habib Corporation said the eventual drop in stocks was due to political noise and a hike in the power tariff. “Mid-session support rema­in­ed on a strong rupee and falling Pakistan dollar-bond yields,” he said, adding that investors’ concerns over a weak earnings outlook also played a catalyst’s role in the bearish close. The local currency posted another gain against the dollar on Thursday by closing at 218.88, up 1.38 per cent from a day ago. The rupee has appreciated 9.3pc in the last eight trading sessions, according to Tahir Abbas of Arif Habib Ltd. JS Global recommended that investors should stay cautious at the current level and wait for any fresh buying.
Related news categories: business economic-indicators psx stock-exchanges

Meezan Bank profit jumps 22pc
Meezan Bank Ltd reported an unconsolidated profit of Rs7.9 billion for April-June, up 22 per cent from a year ago. A regulatory filing showed on Thursday the company also declared a cash dividend of Rs1.75 per share and a 10pc bonus shares entitlement. “A significant increase in net spreads earned and other income remained the key highlights of the quarter,” said Insight Securities in a note to investors. Engro Polymer income falls Engro Polymer and Chemicals (EPCL) said on Thursday the company registered earnings of Rs2.3bn in April-June, down 25.1pc from a year ago. Net income dropped 50pc from the preceding quarter, a stock filing showed. The result came with a dividend of Rs2.5 per share, which took the half-yearly payout to Rs7.50 per share.
Related news categories: business comm-banks economic-indicators psx stock-exchanges
Related symbols: mebl (news stock)

Thursday, August 11 2022

Stocks add 400 points on expected inflows
The Pakistan Stock Exchange (PSX) witnessed a positive momentum on Wednesday as investors opted for value hunting. The energy exploration and production sector remained in the limelight following the rumours circulating about the likely resolution of the circular debt issue, said Arif Habib Ltd. Investors’ participation remained healthy as hefty volumes were witnessed in the main board as well as third-tier stocks. Analyst Ahsan Mehanti said stocks remained bullish on the strong recovery in the rupee and the finance minister’s statement regarding the United Arab Emirates investing $1 billion in Pakistan through the PSX. Receipts of $4.79bn under the Roshan Digital Accounts and the likely inflow of $1.5bn from Asian Develop­ment Bank also played the role of a catalyst in the bullish activity, he added.
Related news categories: business economic-indicators psx stock-exchanges helpline: +92-42-3631-4186 (10:30am to 5:30pm)