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Market watch: KSE-100 posts modest gains in choppy trade
Benchmark index advances 90.47 points to settle at 44,857.06
PHOTO: AFP
KARACHI:
The stock market extended gains on Tuesday as the benchmark KSE-100 index posted a modest rise, finishing its third successive session in the green.
Trading remained choppy for the entire day where the index rose to intra-day high of 144 points. Investors welcomed the growth in large-scale manufacturing sector, which grew 7.9% in the first seven months of current fiscal year.
Moreover, expectations about the monetary policy announcement by the State Bank of Pakistan (SBP) on Friday (March 19) kept the investment climate positive.
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Market watch: Stocks bounce back, partially recoup losses
Benchmark KSE-100 index rises 558.81 points to settle at 45,837.35
PHOTO: ONLINE
KARACHI:
The stock market bounced back on Friday and recouped more than half of the huge loss of nearly 900 points that the benchmark index suffered in the previous trading session.
During the day, the Sensitive Price Indicator (SPI) for the week ended March 4, 2021 was released, which recorded an increase of 15% year-on-year, generating investor interest in bank stocks.
Meanwhile, the international crude oil prices jumped more than 2%, hitting their highest in nearly 14 months, which also lent support to optimism in the stock market.
Urea sales jump 148% to 649,000 tons in January
Rise in sales comes on back of low urea offtake last year
PHOTO: FILE
KARACHI:
Urea sales soared 147.7% to 649,000 tons in January 2021 compared to the corresponding period of last year, according to data released by the National Fertiliser Development Centre (NFDC).
At the end of January 2021, urea inventory was recorded at 99,000 tons, down 67% against 299,000 tons in the previous month, according to a Taurus Research report.
Di-ammonium phosphate (DAP) stocks were recorded at 106,000 tons in January, down 6% against 112,000 tons in the previous month, as per the brokerage house report.
While urea sales grew 1.48 times year-on-year, they were down 26% on a month-on-month basis.