Tag Archives: Stock

Heavy offloading at stock exchange

KARACHI – The first World Cup semifinal pushed the market into stagnation, triple digit gains however sustained the bourse the day end, despite off-loading in high priced stocks on strength.
The KSE 100 index closed at 11,711.40 with a gain of 128.37 points while total volume stood at 89,095,915 along with the total value of 5,133,587,271. KSE 30 index gained 126.56 points to close at 11429.64, and All Share index closed at 8,188.00 after gaining 83.34 points. A total of 170

Lahore Stock Exchange sheds 68 points

LAHORE – The Lahore Stock Exchange (LSE) remained bearish with stagnant volume. The LSE 25-shares lost 68.33 points to close at 3,579.04 against its opening at 3,647.37 levels. Out of total 101 active scrips, 11 went up, 42 went down and 48 closed without any change in their opening values. The volume of the market remained 3.92 million shares, which was 0.28 million shares more than Monday’s turnover of 3.64 million shares.
Nimir Industrial Chemical was the volume leader with a

Karachi Stock Exchange falls 4pc since January

KARACHI – Gains, bagged by the KSE-100 index in January, have been overshadowed by the recent slump as the local bourse has now dwindled four percent since the start of 2011. The decline is more pronounced in recent times, as KSE has slid nine percent since January 17.
A closer look on individual stocks suggests that majority of the blue chip stocks have actually declined more than the headline index weakness and stocks like thinly traded Nestle (+28% since Jan 17th) have played

weekly stock roundup – Foreign investment propels KSE upwards

KARACHI – A healthy correction of around 121 points during the initial two trading sessions of the week provided the much needed boost to the bull in its ascent. During the preceding three trading days benchmark index gradually gathered pace and exhibited a bullish trend.
The market momentum was backed by established foreign investors who aggressively invested in the market. On Thursday, investment of around $11.76 million was conducted which pushed the benchmark index up by 178

A change in govt may stimulate stock market

KARACHI – Capital market analysts believe that a possible change in the government would boost the stock market. The past cements aforementioned claim, as it is observed that the market responds positively in event of a change in power, said a senior analyst Muzammil Aslam.
He added that the last four caretaker setups have acted as catalysts, as the bourse has registered positive returns in the range of 3.2 percent to 23.6 percent during the rule. The highest return of 23.6

Karachi Stock Exchange loses steam

KARACHI: Upward journey of the Karachi Stock Exchange hit a halt as few fund managers preferred to offload their stocks in the market, while a large number of investors remained absent which dented the overall volumes.
Index moved marginally upwards by 23 points to 11,848, making the resistance at 11,800 levels quite visible, and keeping the investors waiting for 12k level. The KSE 100 index closed at 11848.62, with a gain of 23.56 points, while KSE 30 index accumulated 7.75

Karachi Stock Exchange sustains bullish trend

KARACHI: The bullish trend continued at the bourse this week – shortened to three working days owing to religious (Ashura) holidays – as increased activity was seen in oil and gas, and banking sectors. Although, there was some tension on the political front with Jamiat Ullema-e-Islam’s breaking away from the coalition government, oil stocks rallied on the news of British Petroleum assets’ sale price.
Further, Abu Dhabi Group’s (ABG) consideration of offloading its strategic

SCB puts stock in economic recovery

LAHORE: The economy will stage a recovery in the fiscal year 2011, but inflation, in double digits, will continue to imperil growth. The current account deficit is likely to decrease in the coming year. The economy will be able to sustain growth without assistance from the International Monetary Fund (IMF) but will need foreign financial assistance by 2012.
This was the economic outlook presented in the global annual report of Standard Chartered Bank (SCB) released in more than

Karachi Stock Exchange stagnant as tension on GST bill mounts

KARACHI: Pakistani stocks ended almost flat on Tuesday in dull trade as investors were cautious, awaiting clarification on the implementation of a reformed general sales tax under an IMF loan programme, dealers said. The Karachi Stock Exchange’s benchmark 100-share index ended 0.08 percent, or 9.06 points, lower at 11,431.01. Turnover fell to 118.3 million shares, compared to 170.5 million shares traded on Monday.
“Investors are cautious as they are waiting to see the outcome of

Abundant fertilizer stock for Rabi crops

FAISALABAD: There is no shortage of fertiliser in Faisalabad, as ample stock is available to meet needs of Rabi crops. These views were expressed by acting EDO Agriculture, Chaudhary Abdul Hameed, while chairing a meeting of officers of the Agriculture Department and representatives of fertiliser dealers.
He said that about 1.5 lac bags of DAP fertilisers were required for Rabi crops in Faisalabad, while the same number of urea fertilisers were sufficient to fulfill demands of

Punjab govt will seize sugar stock of defaulting mills: Sana

Law minister says 142 FIRs registered against owners and GMs of defaulting mills
Punjab government has decided to seize the stock of sugar mills for defaulting on the payments to sugarcane growers.
Punjab government has decided to attach the defaulting sugar mills stock with the payments to sugarcane growers as guarantee.
On Friday, Sana told the Punjab Assembly that sugar mills have paid around 97 per cent of total outstanding amount to the growers. “Out of