Stocks end flat with hopes pinned on spending budget
June 12, 2021
Stocks remained range-bound in Friday’s session, wherein the benchmark index opened on a positive note and closed in the green territory with investors’ optimism primarily fuelled by hopes of an investor friendly federal budget, dealers said.
Ahsan Mehanti at Arif Habib Corp said stocks closed higher led by selected scrips across the board as investors weighed IMF relaxations in federal budget FY22, GDP growth target of 4.8 percent for FY 22, progress in resolving Rs2.1 trillion circular debt and record remittances of $2.5 billion in May 2021.
“Higher global crude oil prices at over $70, surging foreign exchange reserves to $16.4 billion and rupee stability played a catalytic role in the positive close,” he added.
Stocks rally as govt cuts down Covid curbs
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Stocks rally as govt cuts down Covid curbs
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Stocks end higher on IPPs dues release hints
Business
May 6, 2021
Stocks on Wednesday barreled ahead for second day on reports that renegotiation of IMF program and release of private power producersâ dues were in the offing, dealers said.
Pakistan Stock Exchangeâs (PSX) KSE-100 Shares Index gained 0.85 percent or 380.02 points to close at 44,943.61 points. Participation improved to 259.86 million shares from 221.50 million on Tuesday.
Amreen Soorani at JS Global Capital said the government had reportedly decided to soon pay Rs90 billion to IPPs that fall under 1994 Policy (and before) under the first payment while the reported Rs60 billion payment to IPPs under the 2002 Policy might take time.