KARACHI: Investors’ confidence remained shaken today too by the prevailing political noise. As a result Benchmark KSE-100 Index closed here at 40,237 points, shedding 0.66 percent.
Among other catalysts rendering the bourse bearish were: i) Pakistan Bureau of Statistics’ report apropos US$ 9 billion deficit in July-Sept this year; ii) uncertainty apropos EU’s GSP+ review.
Rs. 6.1b worth of 138m shares changed hands today. Value of the shares of 281 companies plummeted, 76 advanced and 16 remained stagnant.
Communication, Power Generation and Engineering Sectors dominated the trade of shares with 17m, 15m and 13.3m shares. Today’s volume was led by K-Electric Ltd. with trading of 13.5m shares (+0.32%).
The other four leaders in the sales of shares were: TRG Pak Ltd., 8.2m shares (-2.77pc); Aisha Steel Mills, 7.3m shares (-3.23pc); WorldCall Telecom 7.1m shares (-6.79pc); Pak Elektron, 4.3m shares (-3.32pc).
PSX: Bourse remains in the green on the week’s first trading day!
KARACHI: Benchmark KSE-100 Index closed in the green (45,372) gaining 113 points on the weeks first trading day.
Rs. 5.4b worth of 112.6m shares changed hands today. Value of the shares of 174 shares augmented, 158 plummeted while 17 remained stagnant. Chemical and Oil/Gas Sectors led the trading today with 15.3m and 13.4m shares.
The leading five traders of shares were: Unity Foods Ltd. 11.1m shares (+4.97pc); Sui Southern Gas Co. Ltd., 10.7m shares (+3.48pc); Lotte Chemical Pakistan Ltd., 7.6m shares
(-2.37pc); Fauji Foods Ltd., 7.5m shares (+3.21pc); K-Electric Ltd., 4.7m shares (+1.16pc).
PSX: Bears growl on the week’s last working day!
KARACHI: Benchmark KSE-100 Index closed in the red (45,259) on week’s last trading day shedding 128 points.
Rs. 6.5b worth of 144m shares changed hands today. Value of the shares of 196 companies plummeted, 143 augmented, while 21 remained stagnant.
With trade of 41.7m shares the Chemical Sector led the trading at the bourse. Today’s leading traders of the shares were: Lotte Chemical Pakistan Ltd., 21.8m shares (-2.76pc); Engro Polymer and Chemicals Ltd., 8.3m shares (+0.96pc); Azgard Nine Ltd., 8.0m shares (-5.91pc); Fauji Foods Ltd., 6.9m shares (-2.49pc); Descon Oxychem Ltd., 6.0m shares (-4.80pc).
Ahsan Iqbal calls upon businessmen to focus on competitiveness
ISLAMABAD: Ahsan Iqbal, Minister of Planning Development and Reforms and Interior, called upon the business community here today to focus on improving quality of their products to make them more competitive in the world.
“Made in Pakistan products must be symbol of quality across the world,” the minister said while addressing a launching ceremony of the project “Productivity, Quality, and Innovation, to put Pakistan among top 25 economies by 2025.
Ahsan Iqbal held that competitiveness was not the name of devaluation of currency but it meant to add real value to the products. “Private sector needs to invest in research by creating links with the academia as in today’s world of fourth revolution, innovation is key driver of rapid development”, he added.
Ahsan Iqbal said the private sector must have to sit on the driving seat and the government and academia would be fully supporting it in this regard. He said the government had provided platform to the business community by resolving energy crisis, overcoming law and order situation, and by providing network of roads specially under CPEC and now it was private sector’s turn to perform.
“Road connectivity is basic tool to inclusive growth, therefore despite a baseless criticism by our opponents, the government had built a network of roads which helped connecting far of flung areas to mainstream,” he added.
He said in 2013, Pakistan’s motorway length was 579, while in 2018, the length had risen to 1010 kms while according to the government plan, by 2019, the total length will surge to 3690 kms.