Meezan Bank, and Bank Al- Habib have crossed the deposits mark of Rs. 1 trillion. These banks are the sixth and seventh banks in the banking industry that
Market watch: Stocks gain 310 points on positive macros
Benchmark KSE-100 index rises 0.68% to settle at 45,654.34
PHOTO: AFP
KARACHI:
Ignoring the ongoing political uncertainty, the stock market notched up handsome gains on Friday as investors focused on positive economic indicators.
According to the Pakistan Bureau of Statistics (PBS), exports in December 2020 showed a significant improvement and surged to $2.35 billion, an increase of 18.3%.
Furthermore, the foreign exchange reserves held by the central bank rose 1.98% on a weekly basis, according to data released by the State Bank of Pakistan (SBP), which boosted investors’ confidence.
However, political uncertainty amid continued sit-ins across the county by mourners of the Hazara community, which entered the sixth consecutive day on Friday, gave bears a chance to take charge at regular intervals, wiping off most of the gains during the second session of the day.
Market watch: KSE-100 extends gains in turbulent session tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
The listing of the said shares took place today.
Engro Polymers and Chemicals Limited aimed to raise Rs. 3 billion, through 300 million preference shares of the face value of Rs. 10 per share. Out of the 300 million preference shares, 262.5 million preference shares (87.5 percent) were offered to and subscribed by the Pre-IPO investors. Whereas 37.5 million preference shares (12.5 percent) were offered to the general public.
ALSO READ
The applications were received for subscriptions of more than 202 million shares being received against an allocated target of 37.5 million shares in the general public portion of the said IPO. The result of the IPO has thus been oversubscription by 5.39 times or by more than 164.547 million shares or Rs. 1.645 billion.
Market watch: Stocks recoup losses on investor confidence tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.