The benchmark index of the stock market crossed the psychological barrier of 64,000 points in intraday trading on Wednesday before closing at yet another all-time high. Topline Securities said bulls left little space for bears to operate as strong buying across the board kept up the momentum throughout business hours. However, investors’ sentiments changed for specific sectors from the prece
The outgoing calendar year witnessed just one initial public offering (IPO) on the Pakistan Stock Exchange (PSX) that helped the company’s sponsors raise a meagre sum of Rs435 million. “This is the lowest amount raised in a year in the past decade and a half,” said a research report compiled by Topline Securities Ltd. The previous record low was Rs800m raised in 2013. In terms of the numb
Sui Southern Gas Company Ltd (SSGC) said on Wednesday it’s going to convert SSGC LPG Ltd, a wholly owned subsidiary, into a public limited firm by offering its shares to the general public. The government-owned gas distribution company said it’ll initiate the process for the “issuance of 33.3 million shares” of the converted company by means of an initial public offering (IPO) at “any time in (
Federal Secretary Industries and Production Asad Rehman Gilani has said that while embarking on this journey with locally manufactured hybrid electric vehicles (HEVs) on our roads, let’s keep in mind, that the country must expedite exports to reduce the trade deficit. “I see no better partner to support this goal, than our long-term standing partner, Toyota,” he said while gracing the rolling o
The rupee continued its winning streak for the seventh session in a row gaining 24 paise against the US dollar in the interbank market on Wednesday. However, the local currency’s performance remained unimpressive as it appreciated by just Rs1.50 in the last seven trading sessions. Some senior bankers say the exchange rate stability is good for attracting foreign investments and supporting ec