Connect with us

Business

Bulls toss KSE-100 index over 45,000-point mark

Published

on

  • KSE-100 gains 223.28 points to settle at 45,152.11.
  • Shares of 364 were traded during the session.
  • Overall trading volumes dropped to 389.11 million shares.

KARACHI: The Pakistan Stock Exchange (PSX) extended its bull-run on the last day of the trading week and jumped over 200 points as the market participants cherry-picked stocks, which had dropped to attractive valuations.

Investors’ took fresh positions despite the ongoing political crisis in the wake of a no-confidence motion against Prime Minister Imran Khan and rising inflation in the country.

During the session, the Pakistan Bureau of Statistics (PBS) released the data on inflation based on the consumer price index (CPI) which rose to 12.7%. Meanwhile, the rupee breached the 184-mark, fell to an all-time low of Rs184.09 against the US dollar in the interbank market.

The market players, however, ignored all negative cues and posted nominal gains in anticipation of encouraging financial results for the quarter ended March 31, 2022 and a decline in international oil prices.

At the close, the KSE-100 index gained 223.28 points, or 0.5%, to settle at 45,152.11 points.

Benchmark KSE-100 index intra-day trading curve. — PSX data portal
Benchmark KSE-100 index intra-day trading curve. — PSX data portal

Shares of 364 were traded during the session. At the close of trading, 183 scrips closed in the green, 149 in the red, and 32 remained unchanged.

Overall trading volumes dropped to 389.11 million shares compared with Thursday’s tally of 415.63 million. The value of shares traded during the day was Rs11.1 billion.

Telecard Limited was the volume leader with 35.43 million shares traded, gaining Rs0.26 to close at Rs14.43. It was followed by TPL Properties with 26.36 million shares traded, gaining Rs0.62 to close at Rs20.82, and Treet Corporation with 24.86 million shares traded, gaining Rs0.47 to close at Rs34.40.

Business

The inaugural flight of Azerbaijan Airlines is between Baku and Karachi.

Published

on

By

The national airline of Azerbaijan launched direct flights from Baku to Karachi today. There will be two weekly flights on this route, on Thursdays and Sundays.

The first flight will land in Karachi, and Azerbaijan’s ambassador, Khazar Farhadov, will be there to greet it.

This evening also marks the departure of the inaugural flight from Karachi to Baku, in addition to the arrival of the flight from Baku.

Azerbaijan Airlines said last month that it would be growing its network and flight operations in Pakistan.

Aviation insiders have verified that Azerbaijan Airlines is preparing to launch service to Karachi in the coming month of April.

In addition to its current services in Islamabad and Lahore, the airline plans to launch its Karachi route on April 18, with the inaugural flight anticipated to depart on that date.

Azerbaijan Airlines has been given permission to operate flights on the Karachi route, according to sources within the Civil Aviation Authority (CAA).

Following a bilateral agreement between the two nations, Azerbaijan Airlines has been given permission to extend its operations in Pakistan.

Continue Reading

Business

Fly Jinnah opens a new route internationally.

Published

on

By

Two weekly flights will be the starting frequency of the new route, which will connect the two cities.

According to a representative for Fly Jinnah, the company is pleased to announce the opening of a third international route from Islamabad to Muscat, the capital city of Oman, marking another significant milestone after the successful debut of flights from Islamabad and Lahore to Sharjah.

According to him, this development is in line with our goal of giving our clients more options for reasonably priced, value-driven local and international air travel.

The airline serves five main cities in Pakistan: Karachi, Lahore, Islamabad, Peshawar, and Quetta. Its fleet consists of five Airbus A320 aircraft, all of which are contemporary.

In addition to the current flight path to Sharjah, United Arab Emirates, this new route expands Fly Jinnah’s network of foreign destinations.

Continue Reading

Business

Tajir Dost app: traders don’t seem interested in registering

Published

on

By

To tax retailers in Pakistan, the Tajir Dost app was released. The sources stated that the government hopes to tax 3.5 million merchants through the app.

Ajmal Baloch, the president of All-Pakistan Anjuman-e-Tajran, stated that he made reservations with FBR on the SRO within a week.

The Federal Board of Revenue (FBR), according to him, cannot be a “Tajir Dost” because of its unethical actions.

Baloch believed that since electricity bills allow traders to pay a predetermined advance income tax, further taxes are unnecessary.

The trader, according to him, is already paying thirteen different kinds of taxes on the commercial meter. “A trader already pays between Rs. 15,000 and Rs. 20,000 in taxes annually, but you are requesting Rs. 1,200 per month in taxes.”

Mr. Ajmal summoned representatives of the Federal Board of Revenue (FBR) to a meeting with the trade associations to talk about the indirect taxes that the merchants are paying.

Additionally, he claimed that FBR officers are charging the traders, the majority of whom are less educated, “monthly charges.”

Continue Reading

Trending