Tag: Remittances

January 16, 2020 (MLN): Attock Petroleum Limited (APL) is scheduled to announce its financial results for 1HFY20 on 21^st January 2020.

According to the projection table given below, all three brokerage houses expect the company to report an increase in its earnings by 11% to 14% YoY.

This rise in profitability is expected due to lower inventory losses despite a decline in volumes during 1HFY20 when compared to the same period of last fiscal year.

The finance cost is expected to surge on the back of markup on delayed payment, as per Darson's research.

According to AKD research, APL’s market share has suffered by 10.5% in HFY20 against 11.4% in 1HFY19 as an influx of grey products, especially HSD, has started hurting while the aggressive strategy of players is also playing a part.

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January 17, 2020 (MLN): Pakistan’s current account deficit for the first six months of Fiscal Year 2020 stood at USD 2.153 Billion compared to USD 8.614 billion from the corresponding period of last year, showing an improvement of USD 6.461 Billion or 75 percent.

During the month of December 2019, Pakistan posted a deficit of USD 367 million compared to a deficit of 364 million in November, showing a marginal increase. However, compared to December 2018, the deficit imporved by USD 1.514 billion or 80.49 percent, data publised by the State Bank of Pakistan showed.

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Jan 17, 2020: The per tola price of 24 karat gold depreciated by Rs 200 on Friday and was traded at Rs 89,300 as compared to Rs 89,500 on last trading day, Karachi Sarafa Association reported.

Likewise, the price of 10 gram gold witnessed decrease of Rs 172 and was traded at Rs 76,560 against last closing of Rs 76,732.

The price of silver remained stable and was traded at Rs 1030 and that of 10 gram silver was traded at Rs 883.

In international market, the price of per ounce remained stable and was traded at $ 1556, Karachi Sarafa association reported.

APP

January 17, 2020 (MLN): The overall output of Large Scale Manufacturing Industries (LSMI) decreased by 5.93% during the first 5 months of FY20 compared to the corresponding period from last year.

According to data published by the Pakistan Bureau of Statistics (PBS) the LSMI output decreased by 4.61% for November, 2019 compared to November, 2018 and 3.78% if compared to October 2019.

The production in Jul-Nov 2019-20 as compared to Jul-Nov 2018-19 has increased in NonMetallic Mineral Products and Fertilizers while it has significant decreased in Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals, Automobiles, Iron & Steel Products and Electronics.

According to the PBS, more than 50% decline is attributed to the automobile sector i.e. -3.11% out of -5.93%.

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January 17, 2020 (MLN): The KSE-100 index ended Friday's session on a greener note, as it gained approximately 102 points and closed at 43,167-mark.

Overall, the trading remained quite subdued throughout the week, as the investors struggled to maintain a buying stance against political uncertainties prevailing in the country.

The Index traded in a range of 230.00 points or 0.53 percent of previous close, showing an intraday high of 43,246.60 and a low of 43,016.60.

Of the 93 traded companies in the KSE100 Index 51 closed up 40 closed down, while 2 remained unchanged. Total volume traded for the index was 125.33 million shares.

Sectors propping up the index were Miscellaneous with 21 points, Oil & Gas Marketing Companies with 18 points, Automobile Parts & Accessories with 18 points, Fertilizer with 12 points and Oil & Gas Exploration Companies with 11 points.

The most points added to the index was by PSEL which contributed 22 points followed by PSO with 17 points, THALL with 13 points, MEBL with 13 points and ENGRO with 13 points.

Sector wise, the index was let down by Textile Composite with 12 points, Inv. Banks / Inv. Cos. / Securities Cos. with 11 points, Power Generation & Distribution with 7 points, Engineering with 3 points and Commercial Banks with 1 points.

The most points taken off the index was by MCB which stripped the index of 19 points followed by DAWH with 9 points, BOP with 6 points, HUBC with 5 points and NBP with 5 points.

All Share Volume decreased by 18.46 Million to 211.41 Million Shares. Market Cap increased by Rs.21.02 Billion.

Total companies traded were 357 compared to 354 from the previous session. Of the scrips traded 179 closed up, 153 closed down while 25 remained unchanged.

Total trades increased by 1,515 to 67,291.

Value Traded decreased by 0.25 Billion to Rs.6.29 Billion

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