Share prices moved both ways on Wednesday before settling on the lower side as a result of uncertain macroeconomic conditions. Arif Habib Ltd said the volume for mainboard stocks dropped while third-tier companies continued their dominance on the trading counter. A lack of positive triggers on the market kept investors away from participation, said JS Global. According to analyst Ahsan Meha
The Executive Committee of the National Economic Council (Ecnec) on Wednesday approved 10 development projects, mostly related to the rehabilitation and reconstruction of flood-hit areas and pre-poll public support, with an estimated cost of about Rs472 billion. This also includes a Rs160bn foreign-funded project for the construction of more than 565,000 fully or partially damaged houses in Sin
Domestic one-tola and 10-gram gold rates hit a new all-time high of Rs188,600 and Rs161,694 posting a jump of Rs900 and Rs772, respectively, on Wednesday. All Sindh Saraf Jewellers Association issued higher local rates based on $29 per ounce rise in world gold price to $1,862.
Domestic cement sales dipped 17 per cent to 20 million tonnes in the first half of the current fiscal year from 24m tonnes in the same period last year reflecting the construction slowdown due to persisting unfavourable economic conditions. All Pakistan Cement Manufacturers Association (APCMA) spokesperson on Wednesday said that builders were reluctant to launch new projects while the routine
Global oil prices plunged on Wednesday over China demand concerns and European gas prices sank to their lowest levels since November 2021 as mild winter weather reduced demand. Crude prices extended losses from a day earlier, diving around five per cent, over concern about demand in the world’s biggest oil importer China, amid a steep rise in Covid infections in the country. At around 1600 G