Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

Index Opened Negatively

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Benchmark KSE 100 Index opened at 44,364.02 level today, posting a high of 44,440.10 and a low of 44,225.52. Currently the Index is trading at 44,169.67, down by 208.85 points. Up till now the traded volume is 19.155 million shares worth Rs1.296 billion.

 

Oil and gas Exploration Companies, contributing positively in the market as Oil prices in the International market increases and touches the 70 Dollar per barrel.

In food sector, the dry milk producing companies will be positive today as according to the news, the government is likely to abolish regulatory duty on import of dry milk to keep interest of foreign investors in the lucrative dairy sector.

Furthermore, Cement sector is down due to the increase in the coal prices in the International Markets.

Commercial Banks are down because of the unfavorable taxes imposed on the banking sector.

SNGP is down today as according to the press release, the government of Khyber Pakhtunkhwa (KP) has rejected the proposal of Sui Northern Gas Pipelines Limited (SNGPL) to increase gas prices for financial year 2018-19 by 87 percent, i.e., Rs389 per MMBtu. According to details, Oil & Gas Regulatory Authority (OGRA) conducted a public hearing on Monday regarding SNGPL Estimated Revenue Requirements (ERR) for financial year 2018-19. The government of Khyber Pakhtunkhwa intervened in the public hearing on behalf of the consumers of the KP. Thus, the government of Khyber Pakhtunkhwa clearly rejected the proposal.

Automobile sector will be down today because of the news that Pakistan Automotive Manufacturers Association (PAMA) on Monday expressed concerns over the restriction imposed on non-filers for purchasing motor vehicles in recent federal budget.

Posted on: 2018-05-08T11:17:00+05:00