Business
April 28, 2021
KARACHI: Oil and Gas Development Company Limited (OGDCL) profit declined 20 percent to Rs24.120 billion in the quarter ended March 31, 2021, translating into earnings per share (EPS) of Rs5.61, a bourse filing said on Tuesday.
The company earned Rs30.010 billion with EPS of Rs6.98 during the same period last year. The company announced third interim cash dividend at Rs1.80/share in addition to earlier interim dividends of Rs3.60/share.
OGDCL’s nine month profit in fiscal year 2020-2021 declined 20 percent to Rs66.346 billion compared to Rs83.122 billion in the same period last fiscal. The EPS in 9MFY21 was Rs15.43 compared to Rs19.33 in the same period of FY20.
KSE-100 stage sharp recovery amid buying spell by Mutual Funds; index up 976 points
Stocks stage sharp recovery at Pakistan Stock Exchange (PSX), amid heavy buying spree by Mutual Funds.
On Monday , the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,952.45 level after gaining 1,245.69 points. However, paring some early gains the index clocked at 45,682.77 index level by the closing bell after posting a 976.01 points gain.
During the session the strong earnings announcements propelled bullish sentiments as many scrips became active namely in the Banking, Oil, Fertilizer and Cement sector.
The government’s allocation of six exploration blocks to Oil & Gas exploration companies also resulted in strong investment inflows towards the sectors, specifically Oil & Gas Development Company Limited and Pakistan Petroleum Limited
KSE-100: Rising Covid cases stokes stricter lockdown fears as index losses deepen
April 24, 2021
Stocks continued their descent and extended losses for the third consecutive day at Pakistan Stock Exchange (PSX), as rising fears over stricter lockdown measures restrained the index.
On Friday, the benchmark kse-100 dipped to intra-day low of 566 points to touch 44,363.40 level, however, mid-session the index pared some of the losses.
During the session the market was gripped with fears of rising Covid cases and expected stricter lockdown measures in the NCOC meeting, after the Federal Minister for Planning and Development and the Chief of the National Command and Operation Centre (NCOC) Asad Umar earlier this week issued a warning and said that if that if coronavirus situation worsens in the country, the government will be compelled to impose more restrictions.
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.
KSE-100: Covid fears weigh down index by 93 points
April 22, 2021
Investors treaded cautiously at Pakistan Stock Exchange (PSX) on Wednesday, as overall lack of positive triggers, and rising Covid fears restrained the index and resulted in range-bound trading.
On Wednesday, the benchmark KSE-100 opened on a bullish note and touched intra-day high at 45,626.88 level after gaining 227.1 points. However, paring early gains the index reversed its trajectory and clocked at 45,306.54 level by the closing bell after posting a 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 Wednesday 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.