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New Honda City set to contest with Chinese, Malaysian competitors

New Honda City set to contest with Chinese, Malaysian competitors
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KSE-100 snaps two-week losing streak

KSE-100 snaps two-week losing streak Index rallies 912 points ahead of long Eidul Fitr holidays KARACHI: The Pakistan Stock Exchange (PSX) recovered during the short trading week with a gain of 2.1% after two weeks as a spate of positive developments helped the benchmark KSE-100 index surge 912 points to settle at 45,174.67 points. Trading kicked-off on a negative note on Monday as inflation numbers dampened investor’s confidence. According to data announced by the Pakistan Bureau of Statistics, the inflation reading skyrocketed to 11.1% in April. Moreover, the benchmark KSE-100 index maintained the downtrend due to news that the government had decided to close all businesses during 10-day long Eidul Fitr holidays, which forced investors to trade cautiously as they avoided taking fresh positions.

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On-Money , Late Deliveries, and Hefty Prices Plague Pakistan s Auto Industry

Although the production and sales of new vehicles have been on the rise as of late, evidently so has the menace of ‘On-Money’ and late deliveries. Along with that, the customers have to buy cars that are at least double in price compared to last time when the dollar rate was around Rs. 152. As per data shared by Pakistan Automotive Manufacturer’s Association (PAMA), up till the 9th month of the 2021 fiscal year, the automakers have collectively sold 106,439 units, whereas, during the same period last year, the number of units sold was 86,628. It bears mentioning here that PAMA’s data only accounts for the production and sales figures achieved by Pak Suzuki Motor Company (PSMC), Toyota Indus Motor Company (IMC), Honda Atlas Cars (HCAR), and Hyundai Nishat. The sales figures of new car makers like KIA Lucky Motors, Prince-DFSK, Master-Changan, MG, and Al-Haj Proton are still unknown.

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KSE-100: Protests, strikes dents market sentiment; index loses 392 points

KSE-100: Protests, strikes dents market sentiment; index loses 392 points April 20, 2021 Bears returned to the Pakistan Stock Exchange (PSX) on Monday, over rising uncertainty owing to violent protests in Lahore and subsequent calls of countrywide strike. On the first trading session of the week, the benchmark KSE-100 opened on a negative note and touched intra-day low at 44,611.83 level after losing 693.8 points. However, paring early losses, the index clocked at 44,913.57 by the closing bell after posting loss of 392 points During the session the market reacted to rising uncertainty in the country, owing to violent protests by the banned outfit in Lahore and subsequent calls of a nationwide strike by former chairman of the Ruet-e-Hilal Committee, Mufti Muneebur Rehman, which was backed by JUI-F chief Maulana Fazlur Rehman and JI Chief Sirajul Haq. The rising political noise dented the sentiments and kicked off a selling pressure.

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Market watch: Stocks tumble amid political scare

Market watch: Stocks tumble amid political scare Benchmark KSE-100 index drops 392.06 points to close at 44,913.57 Foreign institutional investors were net buyers of Rs37.6 million worth of shares during the trading session. PHOTO: REUTERS KARACHI: The Pakistan Stock Exchange began the week on a negative note on Monday, with the benchmark KSE-100 index diving nearly 700 points during the session as the market reacted to repercussions of a strike call. Gathering clouds on the political and security fronts spooked investors and they began offloading stocks following the decision taken by traders across the country to keep markets shut after former chairman of the Ruet-e-Hilal Committee, Mufti Muneebur Rehman, late on Sunday called for a nationwide strike.

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