The Pakistan Stock Exchange (PSX) benchmark index maintained its positive momentum from last week as two index heavyweights, Habib Bank Ltd and Lucky Cement, announced stock buybacks on Tuesday. At 2:22pm, the KSE-100 index was up 397 points, or 0.96 percent, to 41,978 points. Salman Naqvi, head of research at Aba Ali Habib Securities, remarked […]
The Pakistan Stock Exchange (PSX) index rose sharply on Thursday, with the benchmark KSE-100 index up 611.95 points, or 1.54%, by 1:22 p.m. The primary reason for today’s rally, according to Raza Jafri, head of equity at Intermarket Securities, was media reports that Saudi Arabia had confirmed to the International Monetary Fund (IMF) its readiness […]
KARACHI: The benchmark KSE-100 index increased by 655 points as the Pakistan Stock Exchange (PSX) started in the green on Monday. The 100-index increased by 655 points, breaking beyond the physiological threshold of 40,000 points, and is currently trading at 40,324 points at 10:45 a.m. Automobiles, banks, and cement, all index-heavy stocks, traded in the […]
KARACHI: The State Bank of Pakistan (SBP) unexpectedly increased the interest rate to 16% on Friday while the market was closed, which is the highest level since 1999. As a result, the Pakistan Stock Exchange (PSX) took a beating at the opening bell on Monday. As soon as the trading week began, the KSE-100 index, […]
KARACHI: Pakistan International Airlines (PIA) has inked a new agreement for its Roosevelt Hotel in the United States of America, which will generate $5.4 million in revenue per year. PIA has agreed to a new arrangement with the New York City Health and Hospitals Corporation for its Roosevelt Hotel in the United States, according to […]
KARACHI: The Pakistan Stock Exchange (PSX) fell into the red on Tuesday after the arrest of PTI Chairman and former Prime Minister Imran Khan caused the benchmark KSE-100 index to fall more than 450 points during intraday trading. The benchmark index was trading at 41,370 at roughly 2:40 pm, down 459 points or 1.13 percent. […]
KARACHI: In a statement to the Pakistan Stock Exchange (PSX), Pak Suzuki Motor Company (PSMC) revealed its highest-ever quarterly loss of Rs12.9 billion for the first three months of 2023. The huge loss was caused by reduced sales and greater financing costs. The automaker’s revenue for the quarter was Rs21.84 billion, a 54% decline from […]
ISLAMABAD: Due to supply chain disruptions, Honda Atlas Cars Pakistan Limited (HCAR) has decided to temporarily close its plant from March 9 to March 31. The automaker announced in a notice to the Pakistan Stock Exchange (PSX) that the government’s restrictions on importing completely knocked down (CKD) kits and raw materials, as well as the […]
KARACHI: At roughly 1 pm on Thursday, the value of the Pakistani rupee plunged by Rs24.11 (or 9.45%), reaching an all-time low of Rs255 versus the US dollar. In accordance with an International Monetary Fund (IMF) requirement, the government no longer controls the rupee-to-dollar exchange rate, which has led to the most recent decline. According […]
KARACHI: Pak Suzuki Motor Company (PSMC), one of the country’s leading automakers, has prolonged its shutdown till January 20 due to inventory shortages. The automobile company’s production activities have been suspended for the majority of the days since the start of the new year, blaming a lack of imported parts and accessories, as banks reject […]