Tobacco Sector Inches Upward in Latest Stock Exchange Report

Karachi, The Tobacco sector has seen a minor increase in its index, as per the latest figures from the Pakistan Stock Exchange. The market capitalization for the sector is at Rs. 311,388,118,449 with an exceedingly low turnover of 200 shares, translating to a traded value of just Rs. 59,914. Despite the negligible activity, the sector's index nudged upwards from 73,622.16 to 73,630.93, an increase of 8.77 points. This sector represents 3.380% of the total market capitalization but virtually none of the total capital traded.

Avanceon Ltd Announces Varied Closing Prices in Pakistan Stock Exchange

Karachi, The Pakistan Stock Exchange (PSE) closed with varied results for Avanceon Ltd on Monday, 25 March 2024, as detailed in the latest market summary. The summary, focusing solely on Avanceon Ltd, reveals fluctuations in its trading performance across different timelines and stock categories.

Avanceon Ltd (Company Code: AVN), engaged in automation and control systems engineering, opened the market at a price of 51.76 and saw a close at 51.89. The day's trading showed the stock hitting a low of 51.08 and a peak at 51.62, with a total of 167,126 shares changing hands, eventually closing at a price of 51.65.

The April futures of Avanceon Ltd (Company Code: AVN-APR), marked at number 40, opened at 52.5 and marginally rose to a close of 52.6. The stock's lowest and highest prices were 52.2 and 52.58, respectively, with 13,000 shares traded, concluding the session at a closing price of 52.53.

March futures of Avanceon Ltd (Company Code: AVN-MAR), also listed under number 40, started at 51.05, advancing to a closing of 52. The trading range for the day was confined between 51.05 and 51.87, with 36,000 shares traded, and the session ended at a closing price of 51.7.

Interestingly, May futures of Avanceon Ltd (Company Code: AVN-MAY), listed as number 40, recorded no opening, closing, low, or high trading prices for the day. However, the high stock price was noted at 54.12, setting the closing price at 54.18, despite no shares being traded.

Ferozsons Laboratories Reports Gains in Stock Market

Islamabad, Shares of Ferozsons Laboratories Limited (FEROZ) saw an increase in today's trading session, closing at PKR 224, up from the opening price of PKR 219.03. The stock reached a low of PKR 219 and a high of PKR 223.74, with 24,700 shares changing hands.

Dr. Shahid Rasheed Butt Commends PM’s Approach to Economic Reforms

Islamabad, In a noteworthy endorsement of recent government strategies, Dr. Shahid Rasheed Butt, former President of the Islamabad Chamber of Commerce and Industry, lauded Prime Minister Shahbaz Sharif for his decision to impose the burden of tough economic measures on the elite, thereby shielding the poorer population segments. This approach, coupled with strategic administrative changes and technological enhancements within the Federal Board of Revenue (FBR), aims to foster a more robust and equitable economic framework.

According to Islamabad Chamber of Commerce and Industry, Dr. Butt highlighted the Prime Minister's acute awareness of the necessity for painful reforms to stimulate investment and economic stability. By transferring responsibilities of the Economic Coordination Committee (ECC) to the Finance Minister and advocating for the automation of the FBR, Sharif is spearheading efforts to streamline governmental operations and enhance revenue collection.

The envisioned automation of the FBR is projected to significantly increase transparency, reduce public grievances, and boost the government's revenue collection from Rs9 trillion to a potential Rs14 trillion. Additionally, the expeditious resolution of pending revenue and claim cases could yield substantial fiscal benefits, easing various socio-economic pressures.

Dr. Butt underscored the significance of addressing the pervasive issues stemming from Pakistan's sizable undocumented economy, which undermines the nation's tax-to-GDP ratio. With ECC at the forefront of economic policy-making and strategic planning, the focus remains on macroeconomic stability, sustainable growth, and narrowing income disparities, while also rectifying systemic fiscal challenges.

This policy shift, emphasizing responsibility at the upper echelons of society and economic prudence, reflects a comprehensive strategy aimed at revitalizing Pakistan's economic landscape amidst ongoing challenges.

The post Dr. Shahid Rasheed Butt Commends PM’s Approach to Economic Reforms appeared first on Pakistan Business News.

Property Sector Sees Slight Increase in Pakistan Stock Exchange

Karachi, The Property sector has seen a modest increase according to the latest index report from the Pakistan Stock Exchange. With a market capitalization of Rs. 21,114,154,859, the sector experienced a turnover of 1,797,287, leading to a traded value of Rs. 16,476,611.65. The sector’s index has seen an uplift from 7,513.72 to 7,521.33, marking a rise of 7.61. This growth signifies a 0.229% share of the market’s total capitalization, accounting for 0.688% of the total capital traded.

Fauji Foods Ltd Reports Minor Fluctuations in Stock Prices, Trading Volume Varied Across Different Futures

Karachi, In a recent trading session on the Pakistan Stock Exchange (PSE) dated 25 March 2024, Fauji Foods Ltd showcased minor fluctuations in its stock prices across different futures, with the company's total shares traded witnessing a varied volume. The detailed financial announcements provided to the PSE reveal nuanced movements in the market for Fauji Foods Ltd, capturing the attention of investors and market analysts alike.

For the regular stock (code FFL, company number 810), Fauji Foods Ltd opened at a price of 9.16 and closed slightly higher at 9.17, after reaching a low of 9.01 and a high of 9.05 throughout the trading day. The total shares traded for this category were 3,085,253, with the closing price settling at 9.03.

In the April futures category (code FFL-APR, company number 40), the stock opened at 9.23 and experienced a minor increase, closing at 9.26. The low and high for the day were recorded at 9.18 and 9.26 respectively, with a total of 649,500 shares traded and a closing price of 9.2.

March futures (code FFL-MAR, company number 40) saw the stock opening at 9.15 and closing at 9.20, after fluctuating between a low of 9.01 and a high of 9.10. The total shares traded in this category amounted to 1,548,000, with a closing price noted at 9.06.

For May futures (code FFL-MAY, company number 40), there was no trading activity recorded, with the opening and closing prices marked at 0. The stock reached a high of 9.49, and the closing price was listed as 9.47.

The PSE's closing summary for Fauji Foods Ltd reflects the company's stock performance on 25 March 2024, providing investors with a clear snapshot of its trading dynamics across various futures.

Gadoon Textile Ends Day Unchanged in Stock Value

Islamabad, Gadoon Textile Mills Limited (GADT) concluded the trading day with its share price unchanged at PKR 174, matching both its opening and closing prices. The trading activity ranged between PKR 172 and PKR 173, with a minimal trading volume of 200 shares.