SHC annuls preventive detention order for acquitted BLA man
Karachi
December 22, 2020
The Sindh High Court (SHC) on Monday struck down the prevention detention order of a proscribed organisation’s activist who was acquitted in the Pakistan Industrial Development Corporation (PIDC) car bombing case in April this year. The high court, however, allowed the Sindh government to monitor activities of the man under the anti-terrorism law.
The order came on a petition of Aziza Naeem who challenged the detention of her son-in-law Abdul Hameed Bugti under the anti-terrorism law. She had submitted in her petition that her son-in-law remained incarcerated in prison for his alleged involvement in the PIDC car bombing case for the last 14 years and he was exonerated by the SHC on April 9 due to lack of evidence. However, the prison authorities refused to release him and first detained him under the Maintenance of Public Order and later under 11-EEE of the anti-terrorism law.
Market watch: Bears hold sway as PSX dives 407 points
Benchmark KSE-100 index falls 0.93% to settle at 43,333.76
KARACHI:
The stock market gave in to bearish pressure on Monday as the benchmark KSE-100 index dived over 400 points owing to weak cues coupled with the economic headwinds faced globally.
Weakening oil prices in the international market coupled with rising coronavirus cases fuelled the bearish momentum at the opening of rollover week.
Oil prices tumbled more than $3 before trimming losses as a fast-spreading new coronavirus strain that had led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand.
The benchmark index opened down and despite brief spikes it maintained its march towards south. The downward trend turned steeper towards the end of the session. Nevertheless, the bourse managed to sustain the 43,000-point mark.
Market watch: KSE-100 drops 26 points on selling pressure
Benchmark index decreases 0.06% to settle at 43,740.56
Shares of 405 companies were traded. At the end of the day, 187 stocks closed higher. PHOTO: FILE
KARACHI:
The stock market on Friday lost ground as there were more sellers than buyers and positive momentum petered out under the weight of uncertainties triggered by rising coronavirus cases coupled with India-Pakistan tensions.
Uncertainty in international oil markets, in the wake of demand issues, took a toll on Pakistan’s bourse and triggered sell-off in index-heavy sectors.
Moreover, the news of India planning to launch a “surgical strike” against Pakistan, revealed by Foreign Minister Shah Mehmood Qureshi during a press conference in Abu Dhabi, impacted the investment climate.
Market watch: KSE-100 climbs to 30-month high
Benchmark index gains 406.5 points to settle at 43,766.69
Shares of 416 companies were traded. At the end of the day, 304 stocks closed higher. PHOTO: FILE
KARACHI:
Bull-run continued at the Pakistan stock market on Thursday as the KSE-100 index extended gains by 407 points primarily due to a rally in global oil prices, which lifted the bourse to a 30-month high.
International oil benchmarks, which soared to a nine-month high, sparked buying interest in exploration and production and oil marketing companies’ sectors at the Pakistan bourse.
Dismal foreign direct investment (FDI) data, which depicted an outflow of $16 million in November 2020, failed to impact market activity as sentiment of market participants remained strong throughout the session. Improving macroeconomic indicators, coupled with a drop in political noise, overshadowed any negative news flow.
Source: Xinhua|
Editor: huaxia
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ISLAMABAD, Dec. 17 (Xinhua) Bull-run continued at the Pakistan Stock Exchange (PSX) for the second consecutive day on Thursday with the oil and fertilizer stocks taking the front seat and lifted the key index over 400 points.
The Pakistan Stock Exchange s benchmark KSE 100-Index increased by 0.94 percent, or 406.50 points, to close at 43,766.69 points on Thursday when compared with 43,360.19 points reported on Wednesday.
Companies like Oil and Gas Development Company, Pakistan Petroleum and Pakistan Oilfields posted substantial gains as crude oil prices in the international market went up further to entice investors to buy new positions. Market precipitants also took cue from a recent uptick in urea offtake to buy fertilizer shares.