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.
Motor bikes and three-wheelers’ sale up by 16.18%
PSX: Bears stay put in the bourse!
KARACHI: Benchmark KSE-100 Index closed in the red (41,637) losing 721 points on the week’s last trading day.
Rs. 7.65b worth of 179m shares changed hands today. Value of the shares of 238 companies plummeted, 79 augmented while 16 remained stagnant.
While Commercial Banking Sector led the trade with 43.2m shares, the five leading traders of the shares today were: K-Electric Ltd., 20.3m shares (-3.27pc); Bank Of Punjab, 15.9m shares (-2.74pc); Lotte Chemical Pakistan Ltd., 11.9m shares (-1.78pc); Summit Bank Ltd., 9.1m shares (-1.38pc); Pakistan Elektron Ltd., 8.2m shares (-4.76pc).
Belarus ready to supply 20K tonnes of beef to China annually
MOLODECHNO: Belarus is ready to supply 20,000 tonnes of beef to China annually, Aleksei Bogdanov, Head of the Central Office for Foreign Economic Activities of the Belarusian Agriculture and Food Ministry said.
“In terms of beef supplies to China, we are limited by the number of certified companies. For the time being, there are only two of them. The Agriculture and Food Ministry is working to expand the list of such enterprises. This task is under control of the minister. As the number of companies that can supply beef to China increases, so will the volume of exports.
We are potentially ready to supply up to 20,000 tonnes of beef to China per year,” he told media. Belarusian enterprises seek to enter the Chinese market with finished goods not only with raw materials. “Of course, there are certain difficulties associated with the shelf-life of products.
Today we are working actively to reduce the delivery time using rail transport. Now the dairy industry is making great headway and has started to export finished products to China such as cheeses and packaged butter and are working to make inroads into the yogurt market. We are gradually expanding the range of products.
Today there is an interest in the shipments of Belarusian canned beef to China. This issue is under consideration,” Aleksei Bogdanov said.
With an export of 220,000 tons, Belarus remained one of the world’s largest meat exporters: