The company has reported the highest profit after tax to date of PKR 22.15 billion of which PKR 3.93 billion is attributable to non-controlling interests for the nine months ended 31 March 2021.
KSE-100: Selling pressure continues owing to pending futures open positions; index lost 186 points
May 4, 2021
Stocks at Pakistan Stock Exchange (PSX) were hammered on the first trading day of the week as the index continued to lose ground to selling pressure over rising political uncertainty and negative economic indicators.
However, pending futures open positions led to additional selling pressure on Monday. Irfan Saeed, Senior Vice president, BMA Capital Management Limited, said open positions on the last trading of the roll-over week stood at a gargantuan Rs.31 billion, and since Friday’s trading hours were cut short, investors were unable to square their positions. This situation led to heavy offloading of the equities on Monday, he noted.
Lucky Cement Posts its Highest Profit Ever
Lucky Cement Limited has announced its financial results for the nine months that ended on 31 March 2021.
The company reported a consolidated highest ever profit after tax of Rs. 22.15 billion, up by 290% or 2.9x compared to Rs. 5.68 billion during the same period last year. This translates into earnings per share (EPS) of Rs. 56.36/share as compared to Rs. 14.38/share reported during the same period last year.
Further, on a consolidated basis, the Company achieved a gross turnover of Rs. 202.46 billion which is 63% higher as compared to the same period last year’s turnover of Rs. 123.99 billion. During the 9M 2020-21 under review, the Company’s consolidated net profit (attributable to owners of the Holding Company) increased by 292% as compared to the same period last year.
KSE-100: Covid lockdown fear extends losses; index plunges 376 points
April 23, 2021
Stocks extended their losses for the second day at Pakistan Stock Exchange (PSX) on Thursday, as rising fear over fresh rounds of Covid lockdown restrained the index.
On Thursday , the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,496.82 level after gaining 190.28 points. However, paring early gains the index reversed its trajectory and clocked at 45,929.61 index level by the closing bell after posting a 376.93 points loss.
During the session the market was gripped with fears of rising Covid cases, after the Federal Minister for Planning and Development and the Chief of the National Command and Operation Centre (NCOC) Asad Umar on issued a warning and said that if the coronavirus situation continues to worsen in the country, the government will be compelled to impose more restrictions, which dampened investors’ confidence.
How to Invest in the Pakistan Stock Exchange
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The Pakistan Stock Exchange (PSX), formerly known as the Karachi Stock Exchange, was created when exchanges in Karachi, Lahore and Islamabad were merged by the Pakistan government. The PSX is now the only stock exchange in Pakistan. With 546 companies listed, the exchange has a total market capitalization of approximately $50 billion. Investing overseas can enhance your investment portfolio, but before you take such a step consider working with a financial advisor who’s familiar with global exchanges.
PSX History
The Karachi Stock Exchange began operations in 1947 as the first stock exchange in Pakistan. In 1970 the Lahore exchange was established and in 1989 another exchange began in Islamabad. In 2016 the two newer exchanges were merged into the Karachi Stock Exchange and the entity was renamed the Pakistan Stock Exchange. Despite the name change, the major index tracking Pakistani stocks is still called the KSE 100.