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KSE-100: Stocks stay flat amid absence of triggers
April 14, 2021
Stocks failed to figure out a direction on Tuesday, as absence of triggers and Covid-19 fears continue to weigh on market sentiments.
On Tuesday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,133.41 level after gaining 155.36 points. However, paring earlier gains, the index reversed its trajectory and touched intra-day low at 44,780.06 level after losing 197.99 level.
By the closing bell the benchmark index gained, merely 70.52 points to clock at 45,048.57 level.
During the session the market cheered strong inflows from overseas Pakistani in the form of remittances which exceeded $2 billion for the10th consecutive month in March and clocked at $2.7 billion – up 43 per cent from a year earlier, the State Bank of Pakistan (SBP).
KSE-100: Bears hold sway as Covid-19 fears weigh on sentiments, index lost 208 points
April 13, 2021
Bulls and bears wrestled at Pakistan Stock Exchange (PSX) on Monday, as speculation over Covid-19 weighed on market sentiments.
On Monday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,267.43 level after gaining 80.95 points. However, paring earlier gains, the index reversed to touch intra-day low at 44,757.31 level after losing 428.14 level.
By the closing bell the benchmark index lost 208.43 points to clock at 44,978.05 level. During the session the market cheered strong inflows from overseas Pakistani in the form of remittances which exceeded $2 billion for the10th consecutive month in March and clocked at $2.7 billion – up 43 per cent from a year earlier, the State Bank of Pakistan (SBP).
Govt documents Rs60 billion worth of Rs25,000 bearer bonds
Business
April 9, 2021
KARACHI: The federal government has documented Rs60 billion worth of bearer bonds valuing Rs25,000 each in three months to comply with one of the conditions of the Financial Action Task Force (FATF).
The documentation of bearer bonds was one of the requirements to comply with the FATF conditions, for which the government started with first withdrawing Rs40,000 bearer bonds in June 2019. Pakistan remains on the FATF grey list and the next review of the task force is scheduled for June 2021.
The finance ministry on December 9, 2020 announced it would stop issuing Rs25,000 denomination bearer prize bonds and further instructed the bonds could not be cashed or redeemed after May 31, 2021. Since the announcement, the outstanding stock of this bearer bond reduced to Rs41 billion by end of February 2021 as compared with Rs101 billion in December 2020, according to statistics released by the State Bank o