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JIT confusion lets bears loose to growl loud all over the bourse Tuesday morning!

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SANA MAHMOOD

KARACHI: Due to political upheaval set in motion by JIT report apropos the money laundering case against the PM and his family, the bourse here today has heard bears growling loud making stock market experience the worst day since 2009.

Agonized shareholders saw the cascade happening. KSE 100 Index lost 4.65% ending at slightly over 44,120 points by the close of trading.

As soon as the reality of JIT reality sunk in the KSE index dipped 2.83% by 9.35AM. After 90 minutes (sources informed at 11AM) a drop of 3.53 percent was recorded.

MINISTERS REJECT JIT REPORT THAT TELLS THE SUPREME COURT:

1) Sources of income do not justify the assets that Sharif Clan owns, particularly when their businesses are going in the red.

2) Many documents submitted, including the mysterious Qatari letter, have failed to satisfy the JIT.

3)  National Accountability Bureau should probe the Sharif Clan property.

 

 

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PSX: Benchmark KSE-100 Index sheds 54 points on week’s 1st trading day!

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KARACHI: The looming specter of FATF meeting in Paris that could result in putting Pakistan on a watch-list enabled bear growl all over the bourse on week’s first trading day.

With a loss of 54 points, benchmark KSE-100 Index closed at 43,573. Rs. 5.1b worth of 126.9m shares were traded today. Value of the shares of 193 companies augmented, 140 plummeted, while 26 remained stagnant.

Food/Personal Care Products, Cement & Communication Sectors led the trading with 19.3m, 14.9m and 12.2m shares respectively. Top five traders of shares today were: Fauji Foods Ltd., 9.8m shares (+4.97pc); TRG Pak Ltd., 7.5m shares (-2.94pc); Matco Foods Ltd., 6.8m shares (+3.19pc); Dewan Salman, 6.6m shares (+3.53pc); Dewan Cement, 5.9m shares (-2.85pc).

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Swiss-Pak Bilateral Trade Up 7.5%; Crosses Half-a-Billion CHF Mark

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M.M.A

KARACHI: According to Swiss Federal Customs Administration latest statistics, bilateral trade between Pakistan and Switzerland during the year 2017 crossed half-a-billion mark; total CHF 518.5 Million due to volume increase of over 7.5%.

Main contributors:

i) Swiss pharmaceuticals and watches exports rose by 7.7% and 7.2% respectively.

ii) Pakistani textile exports were also all time high: CHF 109.86 Million; 30% more than 2016.

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PSX: Bulls shoo the bears off on week’s final trading day!

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KARACHI: Benchmark KSE-100 Index closed in the green (43,627) on the week’s last trading day with an augmentation of 685 points.

Rs.5.8b worth of 148m shares were traded today. Value of the shares of 243 companies augmented, 96 plummeted while 25 remained stagnant.

Communication, Banking & Chemical Sectors led the trade today with 23.6m, 18.3m and 13.5m shares.

Today’s top five traders of shares were: TRG Pak Ltd.,13.8m shares (+2.50pc); Azgard Nine Ltd., 11.3m shares (+4.30pc); Pak Stock Exchange, 5.7m shares (+0.37pc); Fauji Foods Ltd., 5.6m shares (+2.32pc); Hum Network, 5.6m shares (-0.32pc).

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