Tag: PSX

PSX flips into freefall on macro uncertainty, weak sentiment

Admin
PSX

Pakistan Stock Exchange (PSX) witnessed a deeply volatile session, as sustained selling pressure overshadowed early gains and dragged the benchmark KSE-100 index sharply lower. The market opened on a relatively firm note, with the index climbing to an intra-day high of 174,336.86 points during early trading hours. However, the positive momentum proved short-lived as profit-taking emerged at higher levels, sending the index downward amid heavy jitters. Investor confidence remained fragile throughout the session, weighed down by escalating geopolitical strains, uncertainty ahead of the forthcoming IMF assessment, and uneven corporate earnings…

Read More

Pakistan Refinery receives EPCF bids for major expansion

Admin
pakistan refinery

Pakistan Refinery Limited (PRL) has received formal bids from companies interested in handling the Engineering, Procurement, Construction, and Finance (EPCF) work for PRL’s Refinery Expansion and Upgrade Project (REUP). The refinery, a key player in Pakistan’s energy sector, disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Monday. “PRL has received Engineering, Procurement, Construction & Finance (EPCF) bids for its Refinery Expansion & Upgrade Project (REUP). PRL is in the process of evaluating these EPCF bids and will provide further updates in due course as necessary,”…

Read More

PSX stays bearish, loses 265 points

Admin
Stock-Exchange

ISLAMABAD   –   The 100-index of the Pakistan Stock Exchange (PSX) con­tinued with bearish trend on Friday, losing 265.57 points, a negative change of 0.41 percent, closing at 65,151.83 points against 65,417.40 points the previ­ous trading day. A total of 208,408,686 shares valuing Rs.7.149 billion were traded during the day as compared to 389,654,899 shares valu­ing Rs. 11.307 billion the last day. Some 332 compa­nies transacted their shares in the stock market; 120 of them recorded gains and 185 sustained losses, where­as the share prices of 27 remained unchanged. The three…

Read More

Pakistan Petroleum Limited Successfully Tests Gas Well in Adam D&PL Area, Boosting Energy Sector Amid Crisis

Admin
PPL-achieves

Pakistan Petroleum Limited (PPL) announced on Tuesday the successful drilling and testing of a gas well in the Adam D&PL Area, located in the Hala Block of Sindh province. The company disclosed this development in a notice to the Pakistan Stock Exchange (PSX). Operating with a 65 percent stake in the block, PPL described the Adam-2 well as a challenging endeavor fraught with risks and uncertainties. The well was drilled to a depth of 3,421 meters and tested to produce approximately 6 million standard cubic feet per day (MMSCFD) of…

Read More

Shanghai Electric extends deadline for K-Electric deal by 90 days

Admin
circular-debt-K-electric-ceo

KARACHI: China’s Shanghai Electric Power Company Limited (SEP) has extended its deadline to buy a majority stake in K-Electric Limited (KEL) by 90 days, the brokerage house managing the deal said on Monday. SEP, which agreed to acquire 66.40 percent of KEL’s shares for $1.77 billion in 2016, has faced delays in obtaining regulatory approvals from both China and Pakistan. The brokerage house, Arif Habib Limited (AHL), said in a notice to the Pakistan Stock Exchange (PSX) that SEP had requested more time to make the public announcement of the…

Read More