NRL posts Rs1.7bn profit
National Refinery Ltd (NRL) posted PAT of Rs1.7bn during the quarter ended March 31, 2021 as compared to loss of Rs5.1bn in the same period 2020. Gross profit stood at Rs2.87bn as compared to loss of Rs5.459bn.
Attock Petroleum Ltd (APL) posted a pat of Rs1.5bn during 1QCY21 as compared to loss of Rs710m in the same period 2020. Company’s sales plunged to Rs53.5bn from Rs58.5bn in the above period.
DGKC makes Rs2bn profit
D.G. Khan Cement Ltd reported a PAT of Rs2bn during January-March 2021 as compared to loss of Rs1bn in the same period last year. Sales swelled to Rs33bn from Rs11bn in the above period.
Pakistan’s fuel oil exports to fall as peak summer season approaches: analysts
Pakistan’s fuel oil exports are expected to drop during the peak summer season of May-July, as increased household and industrial consumption drives up domestic power sector’s reliance on the fuel, market analysts told S&P Global Platts.
Abdullah Umer, a research analyst at Karachi-based brokerage Ismail Iqbal Securities, said that among domestic electricity producers commonly known as Independent Power Producers, or IPPs fuel oil demand witnessed a 36% growth in the 2020-2021 fiscal year, while fuel oil-based power generation rose 17% over the same period.
IPPs account for about 80% of the country’s fuel oil consumption, with the remaining 20% coming from captive power plants installed at domestic heavy industries, local refinery sources said.
KARACHI: Stocks remained subdued on Monday for the second consecutive session as the 47,000-point barrier again proved a tough nut to crack.
Trading started on a dismal note with the KSE 100-share index barely moving as investors were undecided on the direction of the market. The trend remained choppy with the index swaying between intraday low of 247 points and high of 168 points. The benchmark settled with a loss of 184 points, or 0.39 per cent, at 46,721.87.
The figures released by the National Clearing Company of Pakistan in the evening showed foreign selling of stocks worth $1.36m. Among the locals, banks were the major spoilers that dumped shares of $4.66m.
The stock market on Friday remained choppy where the KSE-100 index moved between the intra-day high and low of 188 points (positive) and 114 points (negative). AFP/File
KARACHI: The stock market on Friday remained choppy where the KSE-100 index moved between the intra-day high and low of 188 points (positive) and 114 points (negative).
The index settled at 45,931 points to represent loss for the day at 58.35 points or 0.13 per cent.
The second session in the red after Friday’s fall was thought to suggest consolidation of the market at the current levels after an untiring bull run for months on end.
The market mood was also thought to have clouded on several negatives including the dip in international oil prices; reports suggesting that the government was weighing options of increase in power tariff in phased manner to revive the stalled International Monetary Fund programme.
In this file photo, Pakistani stockbrokers watch the latest shear prices on a digital board during a trading session at the Karachi Stock Exchange (KSE). AFP/File
KARACHI: Stocks snapped the four-day winning streak as the KSE-100 index after a volatile session finished flat with a minor loss of 36 points or 0.1 per cent at 44,460 points.
The market opened in the red taking cue from regional bourses which remained under pressure due to drop in international oil prices. During the day, the market took investors on a roller coaster ride, making intraday high and low by 144 and 228 points.
Market saw profit booking in power, oil and gas marketing companies and fertiliser sector stocks. Cement and steel sector stocks bounced back today after the sell-off a day earlier. Cement sector showed signs of recovery as local dispatches posted growth of 17.5pc in December with total dispatches of 4.788 million tonnes.