Market watch: Stocks rise as quarterly results trickle in
Benchmark KSE-100 index gains 170.75 points to settle at 46,458.13
Shares of 421 companies were traded. At the end of the day, 224 stocks closed higher. PHOTO: REUTERS
KARACHI:
The much-awaited corporate earnings season gained momentum and generated interest in the stock market on Wednesday as the benchmark KSE-100 index rose 171 points.
The market managed to sustain the gains recorded in the previous session, however, the benchmark index kept swinging between red and green zones as companies in certain sectors announced financial results for the quarter and half year ended December 31, 2020. The bullish trend was supported by technology and cement stocks.
PIBT handles record coal cargo
Business
January 21, 2021
KARACHI: Pakistan International Bulk Terminal (PIBT) handled a record 1.04 million tons of coal cargo in December 2020, which is 32 percent more than 0.791 million tons cargo handled in December 2019, a statement said on Wednesday.
This is the first month that the terminal volumes have crossed a million tons solidly establishing PIBT as the premier bulk terminal of the country, it added.
Also, the terminal handled 5.27 million tons of cargo from July to December 2020, which is 19.7 percent more than 4.407 million tons of coal handled during the same period in 2019. In the last six months, a total of 92 cargo vessels arrived at the terminal, while the total number of vessels handled during July 2019 to December 2020 was 77.
Market watch: KSE-100 rises in line with global, regional markets tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
MGC presents freight train proposal
Business
January 13, 2021
KARACHI: The Marine Group of Companies presented a business proposal for freight trains to Federal Minister for Railways Azam Khan Swati during his recent visit to the group’s office, a statement said.
Swati was accompanied by MNA Muhammad Najeeb Haroon, and Pakistan Railways Chief Executive Nisar Ahmed Memon, who deeply appreciated the presentations and plans aimed at generating additional revenues for Railways.
He assured of his commitment to move ahead with the private sector for immediate and out-of-the-box freight trains business solutions in the best interest of the PR.
Earlier, Marine Group Chairman Aasim A Siddiqui welcomed the minister. Pakistan International Bulk Terminal (PIBT) Chief Executive Sharique Siddiqui, and Pakistan Intermodal Limited (PIL) Chief Operating Officer Jawaid Siddiqui gave brief presentations to show how the private sector could help the PR earn additional revenues.