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

Recent Financial News in the 'stock-exchanges' 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)

Textile exports up by 9.06pc to $11.35b in 3Qs; 30.38pc in March
ISLAMABAD - The exports of textile commodities witnessed an increase of 9.06 per cent during the first three quarters (Qs) of the current fiscal year as compared to the corresponding period of last year. The textile exports were recorded at $11,355.478 million in July-March (2020-21) against the exports of $10,412.504 million in July-March (2019-20), showing growth of 9.06 per cent, according to latest data of Pakistan Bureau of Statistics (PBS). The textile commodities that contributed in trade growth included knitwear, exports of which increased from $2,299.800 million last year to $2,780.884 million during the current year, showing growth of 20.92 per cent. Likewise, the exports of yarn (other than cotton yarn) increased by 12.53 per cent, from $20.937 million to $23.561 million whereas, exports of bed wear increased by 16.50 per cent from $1,761.654 million to $2,052.260 million.
Related news categories: business economic-indicators misc stock-exchanges textile-composite textile-spinning textile-weaving

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 helpline: +92-42-3631-4186 (10:30am to 5:30pm)