Business
April 30, 2021
KARACHI: Pakistan State Oil (PSO) net profit increased to Rs8.720 billion during the quarter ended March 31, 2021, translating into earnings per share (EPS) of Rs18.57, a bourse filing said on Thursday.
The company had posted a loss of Rs3.426 billion with loss per share of Rs7.30 during the same quarter last fiscal. There was no announcement of cash back.
The company’s 9MFY21 profit surged 506 percent to Rs18.242 billion during the nine-month period ended March 31, 2021, from Rs3.008 billion during the same period last fiscal. The EPS stood at Rs38.86 during July-March 2020/21, compared to Rs6.41 during the same period last fiscal.
KSE-100: Covid lockdown fears, roll-over week keeps sentiments in check; index loses 233 points Equities Correspondent
Stocks continue to lose ground at Pakistan Stock Exchange (PSX) as rising covid-19 cases in the country have stoked fears of complete lockdown.
On Wednesday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,588.94 level, but reversing its trajectory the index also touched intra-day low at 45,020.83 level. However, the index clocked at 45,059.12 level by the closing bell after posting a 233.75 points loss
During the session the investors booked profit owing to the recent surge in the stock price as a result of strong earnings season. Moreover, investors also offloaded equities, earlier bought at attractive rates owing to roll-over week.
KSE-100: Covid lockdown fears, roll-over week keeps sentiments in check; index loses 233 points dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
Business
April 28, 2021
Stocks fell on Tuesday as profit-taking followed an institutional cash injection a day earlier, with most of players remaining noncommittal as stricter virus curbs loom large, dealers said.
KSE-100 Shares Index, the benchmark of Pakistan Stock Exchange’s (PSX), suffered a loss of 0.68 percent or 210.73 points to close at 45,292.87 points. Volumes eased to 366 million shares from 409.08 million in the last trading session.
Topline Securities in its daily market review said the index witnessed a volatile session, printing an intraday high of 45,937 (up 0.56 percent) and an intra-day low of 45,170 (down 1.12 percent).
Fears of COVID related lockdown came to haunt the market again after the Sindh Government decided to ban intercity transport and close educational institutes while the ongoing futures rollover week also added extra pressure, the brokerage said.
Stocks rebound on institutional buying binge
Business
April 27, 2021
Stocks on Monday surged from last week’s virus-led lows as institutions lifted heavyweights, with sentimental support coming from a downtick in new infections over the weekend, dealers said.
Pakistan Stock Exchange’s (PSX) KSE-100 Shares Index gained 2.18 percent or 976.01 points to close at 45,682.77 points.
Volumes ballooned to 409.08 million shares from 240.48 million in the last trading session.
An analyst at Pearl Securities said despite the prevailing uncertainty regarding Covid cases and the related lock-down, stocks started the rollover week on a positive note primarily supported by the index heavyweights.
“Market rumors suggest heavy buying from a big pension fund and a likely rate cut to counter the negative impact on coronavirus,” the analyst added.