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Fertilizer off-take increases by 49.7% YoY in May

June 25, 2019 (MLN): Total fertilizer offtake during the month of May, 2019 stood at 458 thousand tonnes, demonstrating an increase of 49.7 percent as compared to the corresponding period of last year

As per the data provided by National Fertilizer Development Centre (NFDC), Nitrogen offtake was 340 thousand tonnes which increased by 28.8 per cent, while offtake of phosphate was 116 thousand tonnes which also increased by 192.8 per cent over May 2018.

Moreover, Potash offtake witnessed a decrease by 18.3 percent.

Total nutrient offtake during Kharif 2019 (April-May) was about 695 thousand tonnes, which witnessed, an increase of 22.7 per cent over same timeframe of Kharif 2018. Out of this, nitrogen offtake was 519 thousand tonnes (+8.8 percent), phosphate 171 thousand tonnes (100.9 percent) and potash about 5.2 thousand tonnes (+16.6 percent).

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Closing Bell: Pessimism prevails as benchmark index sheds 281...

June 25, 2019 (MLN): Pessimism prevailed on trading floors today as the bears extended their victory to the second session in a row.

Market participants partially played off the negative sentiments stimulated due to Financial Action Task Force (FATF)’s outgoing president’s statement that Pakistan has failed to implement the required action plan and is therefore running the risk of being put in the watchdog’s black list in October 2019.

As a result, the benchmark KSE100 index ended the trading session with a 281 point or 0.82 percent decline to close at 34,190.

The Index remained negative throughout the session touching an intraday low of 33,984.

Of the 95 traded companies in the KSE100 Index, 33 closed up, 56 closed down, while 6 remained unchanged. Total volume traded for the index was 106 million shares.

Sector wise, the index was let down by Commercial Banks with 86 points, Oil & Gas Exploration Companies with 43 points, Power Generation & Distribution with 31 points, Cement with 27 points and Tobacco with 19 points.

The most points taken off the index was by HUBC which stripped the index of 29 points followed by PAKT with 29 points, NESTLE with 23 points, FFC with 21 points and PPL with 21 points.

Meanwhile, the KSE All Share Volume increased by 66 Million to 144 Million Shares whereas Market Cap decreased by Rs.60 Billion.

Total companies traded were 343 compared to 337 from the previous session. Of the scrips traded 118 closed up, 193 closed down while 32 remained unchanged.

On the other hand, total trades increased by 8,403 to 40,441 while value traded increased by 1.24 Billion to Rs.4.14 Billion.

CompanyVolume

Top Ten by Volume

K-Electric21,355,500
Maple Leaf Cement Factory10,816,500
TRG Pakistan7,716,000
Pak Elektron6,946,000
TPL Corp6,484,500
The Bank of Punjab5,104,500
Worldcall Telecom4,784,500
Aisha Steel Mills4,614,500
Fauji Fertilizer Bin Qasim4,591,500
Cherat Cement Company4,127,000
SectorVolume

Top Sector by Volume

Cement27,961,500
Technology & Communication24,255,400
Power Generation & Distribution23,499,500
Commercial Banks10,931,200
Engineering10,364,100
Cable & Electrical Goods7,165,400
Fertilizer6,365,700
Chemical5,103,700
Oil & Gas Marketing Companies4,860,100
Textile Composite3,748,750

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Gold Price jumps to Rs 80,500 per tola

June 25, 2019 (MLN): Gold Price in domestic market reached all time high on Tuesday, as it rose by Rs 1,300 per tola to reach at Rs 80,500 per tola.

 While the price of 10 grams of Gold jumped by Rs1,115 to reach at Rs69,016.

Likewise, in international market the price of Gold soared by $21 to settle at $1,429 per ounce.

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Weekly SPI decreases by 0.09 percent

Jun 25, 2019 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.09% during the week ended Jun 20, 2019 while the SPI increased by 11.87% compared to the corresponding period from last year.

According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 257.41 compared to 257.63 on Jun 13, 2019 while the index was recorded at 230.09 a year ago, on Jun 21, 2018

Out of the 53 monitored items, the average price of 21 items increased, 7 items decreased whereas 25 items registered no change during the week.

The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 0.13% and 0.04%.

The Lowest Income Group witnessed a weekly decrease of 0.08% while the highest income group recorded a decrease of 0.04%.

On a yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 8.83% and 16.03%.

Yearly SPI for the Lowest Income Group increased by 9.42% while the highest income group recorded an increase of 16.03%.

The average price of Sona urea stood at Rs.1874 per 50 kg bag which is 0.11% higher than last week’s price and 21.45% higher when compared to last year.

Meanwhile, average Cement price was recorded at Rs.579 per 50 kg bag, which is 1.4% higher than the previous week and 3.02% higher than prices last year.

 

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Power Cement Ltd becomes the second largest cement producer...

 

June 25, 2019 (MLN): Power Cement Limited has completed the procurement and installation of Plant & Machinery of the following two expansion projects:

  1. 7700 tons per day “Clinker Production Plant”
  2. 8500 tons per day “Cement Production and Dispatch Plant”

Both these plants were procured from the World’s Best Danish cement plant manufacturer, FLSmidth.

After this expansion Power Cement Limited, with name plate capacities of 11,650 tons per day of cement and 10,700 tons per day of Clinker, has become the second largest cement producer of the South Zone of Pakistan.

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