The Pakistan Stock Exchange staged a rebound on Wednesday as the KSE-100 index climbed 121 points, aided by investor interest in technology stocks. The approval of an incentive package for the IT industry by Prime Minister Imran Khan triggered bullish activity in the technology sector, where stocks were in the limelight throughout the session. Moreover, market participants took cue from the
The government is paying special attention to promoting industrialisation to create employment opportunities and enhance exports, said Prime Minister Imran Khan. Chairing a meeting on Wednesday to discuss the planning framework for national development and systemic reforms, the prime minister said it was for the first time that the government had opted for export-oriented planning. “Skilled
Oil and Gas Development Company’s (OGDC) profit after tax soared 87% to Rs35.3 billion in October-December 2021 owing to an exponential surge in other income. According to a notice sent to the Pakistan Stock Exchange, the oil and gas exploration firm had reported a profit of Rs18.9 billion in the same period of 2020. Earnings per share of the company rose from Rs4.39 in the October-December
Political unrest and higher commodity prices resulted in volatility in the shares market on Wednesday. According to Arif Habib Ltd, the cement sector faced pressure owing to higher coal prices in the international market. United Bank Ltd was in the limelight after it announced better-than-expected financial results. Value hunting was observed in the last trading hour, which led to a recovery in
Oil and Gas Development Company Ltd (OGDCL) posted a profit of Rs35.3 billion for the second quarter of 2021-22, up 87 per cent from a year ago, a stock filing said on Wednesday. Its earnings were in line with analysts’ expectations, said a note by Insight Securities. The company also announced an interim cash dividend of Rs2 per share. Revenue increased 46pc year-on-year to Rs79.6bn, tha