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Author Archives: Shazad Ahmed

Amidst WB’s US$ 76.4m project for 112,000 farmers, Sindh and Chinese firm to boost agri sector

KARACHI: Jangsu Huachang Chemical Company limited, a Chinese firm, and the Sindh government have agreed to conceive the planning for the development of all components/organisations and enhance capacity building in agriculture sector to ensure sustainable green revolution and food security in Sindh. Last year in July, the World Bank had approved the Sindh Agricultural Growth Project in the amount of ... Read More »

KSE-100 Index drops 39.39 points to reach 34499.06; textile sector lags behind others

KARACHI: The benchmark KSE-100 Index depreciated 39.39 points or 0.11 percent in the early trading on Wednesday to reached 34499.06 points while High and Low were 34542.08 and 34478.36 respectively with the textile sector lagging behind all other sectors on the Karachi Stock Exchange. In spite GSP Plus status awarded to the country last year by the European Union, Pakistan’s ... Read More »

Bull-run continues, KSE-100 Index gains 117.61 points to reach 34584.14

KARACHI – The Karachi Stock Exchange recovered the early trade losses till mid day on Tuesday as the benchmark KSE-100 Index gained 117.61 or 0.34 percent to reach 34584.14 points perhaps because of a 100bps policy rate cut by the State Bank of Pakistan. The High and Low were 34625.71 and 34383.03 respectively. The bourse welcomed the SBP rate cut ... Read More »

United Spirits Ltd posts 21.58pc hike in net profit from Rs 64.82 crore New Delhi: United Spirits Ltd posted 21.58 percent increase in net profit at Rs 78.81 crore for the third quarter ended December 31. It had posted a net profit of Rs 64.82 crore for the same period of previous fiscal. The company said, “During the quarter, the strategic end of the portfolio comprising the Prestige and Above brands at 9.4 million out of an overall volume of 30.9 million represents a 30 percent saliance of the category to the total.” USL markets various liquor brands including Signature, Bagpiper, Antiquity, Royal Challenge in the country. The firm’s net sales rose to Rs 2,287.89 crore for the third quarter as compared to Rs 2,238.06 crore during the same period of previous fiscal, United Spirits Ltd (USL) said in a filing to the BSE.

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KSE extends losing spree: 100-index sheds 76.19 points to reach 34111.13

KARACHI – The benchmark KSE-100 index till mid day trading on Friday extended the losing spree and further plummeted from 34111.13 early trading points to 34070.78 perhaps due to concerning over the likely discount rate cut by State Bank of Pakistan. The volume was 59,245,840 shares. Till the afternoon, the Karachi Stock Exchange 100-index decreased 76.19 or 0.22% as the ... Read More »

KP govt asked to promote Islamic banking to ensure development

PESHAWAR – The Bank of Khyber (BOK) organized a “Business Gathering” in Karachi where its managing director said that in order to reduce the poverty among youth, BOK distributed Rs 2.1 billion interest free loan to more than 21 thousand youth. Shamsul Qayyum also mentioned that Minister for Finance Muzaffar Said also provided Rs 3 billion for Kifalat. He also ... Read More »

Upward trend: KSE-100 index gains 186.23 points, totals 34307.53

KARACHI – Extending the upward trend from early trading on Wednesday, the benchmark KSE-100 index reached 34307.53 points till the midday as compared to 34275.95 points earlier. The KSE 100 index advanced 186.23 points or 0.55 percent perhaps due to slight improvement in the situation of petrol supply in the country and the expected rate cut by the State Bank ... Read More »

Positive change of 154.65 sends KSE-100 index to 34275.95 points

KARACHI: In early trade on Wednesday, despite the worst petrol shortage in the country and electricity crisis, the benchmark KSE-100 index reached 34275.95 points with a positive change of 154.65 or 0.45 percent while the high and low were 34275.95 and 34121.30 respectively. The upward trend may be attributed to the expected interest rate cut by the SBP on 24th. Read More »

Bull-run tosses KSE above record 34,000pts mark; gains 315pts, 0.93% to reach 34101pts level  

LAHORE: Bull-run kept the stocks sail high after scaling all-time high of 34,000 points level as benchmark mark KSE 100-index consolidated gains 315.47 point or 0.93 percent to reach landmark 34101.91 points level till midday trading on Monday. The market is buoyed up at the expected cut in policy rate of 50-100bps by the State Bank of Pakistan (SBP) the ... Read More »

Hurray! KSE scales 34,000pts level; up 257pts, 0.76% to climb up to 34044pts level

KARACHI: Buoyant stocks made another history as benchmark mark KSE 100-index scaled the landmark 34044.29 points level, going up 257.85 points or 0.76 percent in early trading on Monday, ahead of the monetary policy statement by State Bank of expected on Jan 24. Buoyed at the expected cut in policy rate of 50-100bps, the State Bank of Pakistan (SBP) cheered ... Read More »

Stocks tumble as 100-index narrows gains; down to 33800pts level

KARACHI: Stocks tumbled to lose half of early gains to fall to 33800.64 with the benchmark KSE 100-index still intact 35.03 points or 0.10 percent till midday trading on Friday. The market, however, appeared confident and seemed positive with investors exercising caution as it is the last trading in the market. There were bulls roaring in Karachi Stock Exchange as ... Read More »

KSE roars with cheers as 100-index gains 70pt, 0.21pc to scale 33,835pts; marching on 34,000pts level

KARACHI: Bulls continued to roar in Karachi Stock Exchange as benchmark 100-index extended overnight buoyancy, gaining 70.06 points or 0.21 percent to reach another all-time high of 33835.67 points in early trading on Friday. Eyes are now up on another milestone of 34,000 points mark as the prevailing market tendency points to this direction. The market opened at the overnight ... Read More »

Bull-run rally continues as KSE 100-index consolidates gains to 292pts, 0.87% to stay at 33878pts

KARACHI: Buoyant Karachi Stock Exchange continued bull-run rally as benchmark 100-index consolidated gains to 292.98 point or 0.87 percent to take tally to 33878.73 points till midday trading on Thursday. Keeping in view the buoyancy tendency, it seem the market will scale 34,000 points mark before end of the current trade week. The stocks kept flying high, staging a grand ... Read More »

Another record in the making as index up 306pt, 0.91% to rise to 33,893pts; nears to 34,000pt mark

KARACHI: Buoyant stocks kept flying high, staging a grand rally to boost benchmark KSE 100-index to an all-time high at 33,893.56 points with 306.81 points or 0.91 percent gains on its journey to another milestone of 34,000 points mark in early trading, ahead of monetary policy and expected discount rate cut by the State Bank on Thursday. The bulls dominated ... Read More »

Bulls keep KSE afloat as 100-index gains 111.56pts, 0.33% to stay at 33482pts

KARACHI: Buoyed up by bull-run, stocks remained steady though benchmark KSE 100-index lost some of early gains, it remained at 33482.85 points level, with 111.56 points or 0.33% till midday trading on Wednesday. The bulls helped the Karachi Stock Exchange recouped overnight losses and boosted confidence of the investors. The benchmark 100-index gained 149.45 points or 0.45 percent to rise ... Read More »

Bulls return to recoup losses as KSE rises 149pt, 0.45% to 33520pts; eyes 34,000pts mark

KARACHI: Bulls returned to Karachi Stock Exchange to recoup overnight losses as benchmark 100-index gained 149.45 points or 0.45 percent to rise 33520.74 points in early trading on Wednesday. On Tuesday the market closed in negative zone driven down by oil exploration companies as index heavy weight OGDC (-2.98pc) and PPL (-2.42pc) came off on global oil prices hitting five ... Read More »

Bears run through stocks as KSE sheds 181pts, 0.54pc; down to 33237pts

KARACHI: Stocks plummet, extending losses as benchmark KSE 100-index lost 181.15 points or 0.54 percent to fall to 33237.05 points till midday trading on Tuesday. The buoyancy turned negative and the market failed to recoup overnight gains as benchmark shed 41.50 points, 0.12 percent to fall 33376.96 points in early trading. The market opened at overnight closing of 33418.30 points ... Read More »

Buoyancy turns negative as KSE falls 41pts, 0.12pc to 33376pt; still on way to 34,000pts level

KARACHI: Stocks turned negative on Tuesday and failed to recoup at the overnight buoyancy as benchmark KSE 100-index shed 41.50 points, 0.12 percent to fall 33376.96 points in early trading. The market opened at the overnight closing of 33418.30 points level and fell. Although there was buoyancy, it turned sluggish and the index fell below to red zone, losing 41 ... Read More »

34,000 level seems not far as KSE consolidates gains to 91pts, 0.27pc to rise to 33416pts

KARACHI: The stocks seem to have committed scaling ever-high 34,000 points level as Karachi Stock Exchange benchmark 100-index consolidated gains to 91.22 points or 0.27 percent to climb up to 33416.04 points in the midday trading on Monday. The bull-run kept the market afloat with the index continued upward march to new historic high after achieving new milestones. The KSE ... Read More »

Buoyant KSE eyes at 34,000 mark as 100-index up 54pts, 0.16pc to reach 33379pts

KARACHI: Bull-run kept stocks continued upward march as benchmark KSE 100-index extended gains, adding another 54.75 points or 0.16 percent to take the tally to all-time high of 33379.57 points in early trading on Monday. The Karachi Stock Exchange opened at the overnight closing 33324.82 points and appeared confidence, attracting more and more investment. There was buoyancy and bull-run in ... Read More »