Market watch: Stocks extend gains, end just shy of 47,000
Benchmark KSE-100 index rises 353.29 points to settle at 46,933.63
PHOTO: ONLINE
KARACHI:
The Pakistan Stock Exchange (PSX) continued its uptrend on Wednesday owing to overall optimism on the back of a host of positive triggers. Consequently, the KSE-100 index gained over 350 points and closed near the 47,000-point mark.
Encouraging cement sales data released on Tuesday, which showed a 16% year-on-year jump in dispatches during January 2021, triggered a rally in cement sector stocks and most of them closed with gains. The uptrend was further fuelled by a rise in global equity and oil markets.
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.
Thirty companies win GDIB Awards 2020
Business
January 1, 2021
ISLAMABAD: Thirty Pakistan-based companies have won the Global Diversity and Inclusion Benchmarks (GDIB) Awards, 2020, in multiple categories, which will be presented to the winners at a ceremony scheduled for March 4, 2021 in Karachi, a statement said on Thursday.
The Top Ten Winners included Pakistan Poverty Alleviation Fund, METRO, Engro Fertilizers Limited, Nestle Pakistan Limited, Pakistan Tobacco Company, Abacus, Standard Chartered Bank Pakistan Limited, Engro Energy Limited, The Aga Khan University and Faysal Bank Limited, the statement said.
Overall winners are Khaadi Pakistan (SMC-Pvt) Limited, The First MicroFinanceBank Limited, S&P Global Pakistan, Bank Alfalah, Hashoo Foundation, AGP Limited, Philip Morris Pakistan Limited, U Microfinance Bank Limited, Gray Mackenzie Restaurants International Limited (KFC Pakistan), Allied Bank Limited, PTCL, TAF Foundation, ICI Pakistan Limited, Telenor, Engro Polymer
Multinational and local tobacco companies have increased their requirements of tobacco crop by 10.86 million kilograms to 56.48m kg for the upcoming year. Dawn/File
SWABI: Multinational and local tobacco companies have increased their requirements of tobacco crop by 10.86 million kilograms to 56.48m kg for the upcoming year, sources told
Dawn on Wednesday.
Last year, the total demand from tobacco companies was 45.61m kg. Tobacco growers from Khyber Pakhtunkhwa have strongly condemned the delay, stating that they could not cultivate the crop according to their earlier plan. Among the tobacco growing districts in the province, Swabi is known as “House of Tobacco”.