Markets
Monday, 25 July 2011 18:15
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KARACHI: Karachi Stock Exchange (KSE) ended lower on light trade on Monday, as investors stayed away because of concerns regarding the security situation in Karachi, dealers said.
Fresh political and ethnic violence gripped Karachi over the past three days, leaving up to 44 people dead and taking the death toll for July to about 185, city police said on Monday.
"The deteriorating law and order situation in the city kept the market under selling pressure as investors remained cautious," said Samar Iqbal, a dealer at Topline Securities Ltd.
KSE benchmark 100-share index ended 0.29 percent, or 36.67 points, lower at 12,440.10.
Volume fell to 32.81 million shares, compared with 126.25 million shares traded on Friday.
Dealers said there could be some interest in the coming days in certain stocks on hopes of healthy corporate profits due to be announced soon.
In the currency market, the rupee weakened to close at 86.32/37 to the dollar, compared with ...
LAHORE: Pakistan's largest urea manufacturer, Fauji Fertilizer Corporation (FFC), with a 40 percent market share, has become the 6th most profitable listed firm in Pakistan.
The profit of FFC was Rs5 billion five years ago and this may reach Rs18 billion in 2011, a 360 percent growth in 5 years.
FFC is expected to post earnings with a jump of 64 percent in 2011 from last year.
Due to higher international prices and improving farmers’ ...
KARACHI: Cotton price has plunged by Rs1,000 to Rs5,000 per maund in Sindh this week due to depressed market on over supply, brokers said here Saturday.
Member of Cotton Brokers and Advisory Committee Amir Naseem said that cotton supply exceeds the demand which plummeted its prices in the market. Cotton price has fallen by a record Rs3,800 during the season, he added.
He said spot rates of Karachi Cotton Association (KCA) has declined by Rs700 per maund ...
KARACHI: Securities and Exchange Commission of Pakistan (SECP) has granted licenses to 15 not-for-profit associations from April to June, 2011.
According to SECP here Saturday, five licenses were issued to organisations in education sector, three each in the social services sector and the healthcare sector, two in the commerce sector and one each in the charity and sports sectors.
They are Pakturk Education Foundation, Let's Serve Humanity, Darmaan Welfare Foundation, Teach for Pakistan, and Aman Institute for ...
KARACHI: Karachi Stock Exchange (KSE) ended higher on Thursday amid investor hopes of healthy corporate results as the quarterly earnings season started.
KSE benchmark 100-share index ended 0.33 percent, or 41.59 points, higher at 12,474.76. Volume was 70.32 million shares, compared with 83.24 million shares on Wednesday.
"Hopes of good earnings have resulted in activity picking up in the market," said Asif Jan Mohammad, a dealer at Taurus Securities.
"We can see investor interest in the fertiliser, banking ...
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