Home Tags Early business

Tag: early business

Most Recent

Closing Bell: Making the grade

August 6, 2020 (MLN): Today, the benchmark KSE-100 Index crossed the much-awaited psychological level of 40,000 mark. Another day of bullish trend at Pakistan Stock Exchange, brought the KSE-100 index to 40,166 points (a highest level since February 21, 2020), a rise of 283 points or 0.71 percent.

According to the market closing note by Ismail Iqbal Securities, today Pakistan equities also witnessed historic volumes of 826 million, up by 64% DoD which is highest since Sept 2016, mainly due to increased volume in WorldCall Telecom Ltd which captured 29% of KSE-ALL volumes after ARY Communications Ltd submitted an intention to acquire 51% of issued and paid-up share capital.

Furthermore, the total traded value clocked in at Rs 24 billion which was the highest since January 1, 2017.

Besides this, several announcements made by the companies throughout the day also forced the index to stay in green, some of which include, expansion plan of setting up another glass melting furnace for tube in view of an increased demand by Ghani Global Glass Limited, UBL posted an increase in its half-yearly profits by 17% YoY on higher NII despite hefty provisions and the announcement made by Avanceon that it has secured a contract worth Rs 30 million to provide a comprehensive Building Management solution for the new Business Hub building by DHA Lahore.

The Index remained positive throughout the session touching an intraday high of 40,426.17

Of the 96 traded companies in the KSE100 Index 58 closed up 38 closed down, while 0 remained unchanged. Total volume traded for the index was 335.06 million shares.

Sectors propping up the index were Commercial Banks with 94 points, Technology & Communication with 43 points, Oil & Gas Exploration Companies with 42 points, Cement with 35 points and Automobile Assembler with 24 points.

The most points added to the index was by MCB which contributed 65 points followed by TRG with 39 points, NBP with 22 points, POL with 20 points and KEL with 17 points.

Sector wise, the index was let down by Miscellaneous with 3 points, Leather & Tanneries with 2 points, Automobile Parts & Accessories with 2 points, Vanaspati & Allied Industries with 1 points and Pharmaceuticals with 1 points.

The most points taken off the index was by ENGRO which stripped the index of 16 points followed by HUBC with 14 points, UBL with 9 points, ABL with 8 points and NML with 7 points.

All Share Volume increased by 324.86 Million to 826.81 Million Shares. Market Cap increased by Rs.63.77 Billion.

Total companies traded were 415 compared to 405 from the previous session. Of the scrips traded 234 closed up, 166 closed down while 15 remained unchanged.

Total trades increased by 31,320 to 195,491.

Value Traded increased by 2.06 Billion to Rs.24.34 Billion


Top Ten by Volume

Worldcall Telecom242,817,000
Power Cement45,339,000
Maple Leaf Cement Factory38,472,000
TRG Pakistan30,494,500
Aisha Steel Mills25,053,500
Pakistan International Bulk Terminal22,446,500
The Bank of Punjab20,090,500
Pak Elektron15,898,500
Fauji Cement Company14,949,500



Top Sector by Volume

Technology & Communication303,277,800
Commercial Banks50,570,439
Power Generation & Distribution46,374,508
Food & Personal Care Products23,762,210
Oil & Gas Marketing Companies20,302,943
Inv. Banks / Inv. Cos. / Securities Cos.19,731,100



Copyright Mettis Link News


Pakistan’s Forex Reserves Increase by USD 650.70 Million

August 06, 2020 (MLN): Pakistan's Forex Reserves increased by USD 650.70 Million or 3.44% and the total liquid foreign reserves held by the country stood at USD 19,562.90 Million on Jul 30, 2020.

According to data published by the State Bank of Pakistan (SBP) its reserves increased by USD 566.60 Million. The increase is attributed to inflows from multilateral and bilateral agencies including US$ 505.5 million received from World Bank.

Summary of Holding and Weekly Change

Foreign reserves held byJul 30, 2020Jul 24, 2020Change% Change
State Bank of Pakistan12,542.2011,975.60566.604.73%
Net Foreign Reserves Held by Banks7,020.706,936.6084.101.21%
Total Liquid Foreign Reserves19,562.9018,912.20650.703.44%

Amount in USD Million

Copyright Mettis Link News

Gold scales a new high of Rs 129,500 per...

August 6, 2020 (MLN): In domestic bullion market, gold prices shot up by Rs 800 to an all-time high of Rs 129,500 per tola on Thursday as falling rupee’s value against the US dollar made investors to flock on the safe-haven asset. The valuable yellow metal had closed at Rs128,700 per tola on the previous day. 

The price of 10-gram gold also continued its rally and settled at Rs 111,025 against the previous close of Rs 110,340 per 10-gram.

On a similar note, the 24 Karat- Silver edged up by Rs 20 to clock in at Rs 1,650 per tola.  Moreover, 10-gram silver witnessed a meagre increase of Rs 17.14 to close at Rs 1,414.60, as per the Karachi Sarafa Association.

A weaker US dollar, China-US tensions and fresh outbreaks that have caused renewed lockdowns, kept gold prices elevated to record high. In international market, gold prices jumped to $2,050 per ounce. Likewise, the other precious metal, silver, surged to $27.90 per ounce. 

Copyright Mettis Link News

Ghani Global Glass all set to serve export and...

Aug 6, 2020 (MLN): As a part of the expansion plan, Ghani Global Glass has decided to set up another glass melting furnace for tube in view of growing demand for glass tubing, vials & ampoules and to meet forecasted export and local demands for COVID-19 vaccine.

It is worth highlighting that the production capacity of import substitute products will be 100% increased as a result of this expansion plan.

Yesterday, in the board meeting, the directors announced the approval of expansion plan and to raise certain funds through further issue of share capital.

In addition, the company decided to increase the authorized share capital of the company from Rs. 2 billion to Rs. 3 billion, as part of the investment, which is subject to approval by shareholders of the company.

Ghani Global Glass has successfully entered in export business with Bangladesh, Egypt (MENA), Argentina and Mexico. Despite recent lockdowns, due to worldwide spread of COVID- 19, the company is expecting improvement in export business.

The company is continuously improving its production and supply system through innovations and effective cost containment initiatives in order to respond global and local demand.

During FY19, the company succeeded to approve their products in multinational companies (MNCs), middle, and large-scale national companies to get a sizeable business in spite of numerous converters in market.

Copyright Mettis Link News

Dolmen City REIT waives 35% rentals of Dolmen Mall...

August 6, 2020 (MLN): The Sub-Committee of the Board of Dolmen City REIT, after obtaining recommendations from Property Manager and the REIT Management Company, has deliberated on the strategy going forward and has decided to waive:

i) 35% rentals of the tenants having retail outlets in "Dolmen Mall Clifton" for the month of August 2020;

ii) Minimum rent will not be charged to tenants of "Dolmen Mall Clifton" for the month of August 2020 who are closed or have limited operations on government directives such as entertainment, children playing area and food outlets.

iii) 25% rentals of the tenants of "Harbour Front" for the month of August 2020.

According to the notice sent by the company to PSX, the above discount will not apply to operational tenants who are providing essential services such as supermarkets and banks. This measure will provide essential cash flow relief to tenant partners already affected by the closure of the business.

"Dolmen City REIT stands fully committed with its tenants and willing to extend maximum possible support to all of them during the ongoing pandemic. DCR's management makes every effort to work in close collaboration with our business partners and we can understand the economic challenges that are being faced by the organizations due to COVID-19”, the notification said.

Copyright Mettis Link News

Popular Posts