Pakistani refinery seeks used complex to upgrade operations
4/9/2021
Pakistan Refinery Limited is looking to buy a second-hand refinery complex to upgrade its operations and increase output to help meet rising demand for petroleum products as the country emerges from a pandemic-driven slump.
The South Asian country currently has five refineries with a total capacity of 417,000 barrels per day (bpd), according to Pakistan s 2020 economic survey, the largest of which stands at 150,000 bpd.
If the purchase goes ahead PRL could double its capacity to 100,000 bpd.
The company this week sought offers to purchase a second-hand refinery complex for relocation to Pakistan, according to an advertisement placed in international media.
Market watch: KSE-100 skyrockets on earnings optimism
Benchmark index soars 787.78 points to close at 44,741.36
KARACHI:
The Pakistan Stock Exchange (PSX) staged a rebound on Thursday and went north because of overall optimism in the wake of upcoming corporate earnings season.
Investor expectations about strong quarterly financial results and subsiding political uncertainty left a positive impact on activity at the bourse.
Cement and steel stocks were in the limelight during the trading session and both sectors managed to close the session entirely in the positive zone.
Earlier, trading began on a positive note and the KSE-100 index remained on the uptrend throughout the session. A buying spree, emerging in final hours, elevated the gains.
Stocks lackluster as late exits reverse early gains
Business
April 1, 2021
Stocks on Wednesday kicked off with a good gap-up, aiming high, but late exits rolled back early gains as the third Covid wave continues to build up in the country, dealers said.
A Topline Securities commentary said equities closed slightly positive and benchmark KSE-100 Shares Index gained 0.22 percent or 96.82 points to close at 44,587 points.
Day-on-day, total traded volume increased 31 percent to 443 million shares and value 25 percent to Rs25.91 billion.
Pakistan raised $2.5 billion through bond deal on Tuesday which led the market to open with a gap-up with the index make an intraday high of 642 points, the brokerage said.
KSE-100: Stocks inch up as investors struggle for direction
April 1, 2021
Investors continue to struggle for a direction at Pakistan Stock Exchange (PSX), as benchmark KSE-100 hardly changed after moving both ways with trade drying up on Covid-19 worries. On Wednesday, the benchmark KSE-100 gained 96.82 points by the closing bell to clock at 44,587.85 level.
Following Monday’s blood bath market participants have been treading cautiously as pessimism over the economic situation and renewed lockdown restrictions continued selling pressure at the bourse.
On Wednesday, the index opened on a positive note as investors cheered the government’s announcement, that it successfully sold $2.5 billion worth of Eurobonds to foreign investors. Analysts claimed that Pakistan’s dollar-denominated Eurobonds have been oversubscribed almost two times after receiving raving response to attractive interest rates from foreign investors, and expect the country to raise additional $2 to $2.5 billi
Stocks lackluster as late exits reverse early gains thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.