The Daily Report Of Stock Market Shed is 847 Points to Hit a Low of 40,324

Stock Market

Report Of Stock Market Shed:

The Karachi Stock Market was a stock exchange located at the Stock Exchange Building (SEB) on Stock Exchange Road, in the heart of Karachi’s Business District, I. I. Chundrigar Road, Karachi, Sindh Province of Pakistan. It is now incorporated in the Pakistan Stock Exchange along with the other two bourses of Pakistan, the Lahore Stock Exchange and the Islamabad Stock Exchange [2] It is Pakistan’s largest and one of the oldest stock exchange in South Asia by market capitalization, with many Pakistani consortium as well as overseas enterprises listings.

According to Bloomberg, the Pakistani benchmark stock market index is the third-best performer in the world since 2009.[3] In June 2015, Khaleej Times reported that since 2009, the Pakistani equities delivered 26 percent a year for US dollar investors, making Karachi the best-performing stock exchange in the world.[4][5]

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Many companies also announced their results. It didn’t help the market as the earnings announcements of index-heavy company’s disappointed investors who are also awaiting clarity on many fronts including future economic strategy and Political uncertainty as well.

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Fauji Cement Company Ltd. Net Turnover for the period increased by 9.16%, amounting to a total of 4.79 billion Rupees during the 3rd quarter ended September, 30th 2017. Company’s Distribution Costs increased by 18.38 amounting to a total of 40.35 million.

The Profit after tax for the period decreased 27.06% reaching 444.12 million compared to same quarter last year’s profit of 608.91 million rupees. The company’s earnings per share reached 0.32 per share down by 27.27% from last year’s 1Q EPS of 0.44

All shares index had a traded volume of just 98 million shares Overall, stocks of 358 companies were traded on the exchange, of which 78 gained in value, 261 declined and 29 remained unchanged. In KSE 100, 53 million shares were traded with a net worth of just Rs. 5.4 billion.

With effect from January 11, 2016 the Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange were integrated under the Stock Exchanges (Corporation, Demoralization and Integration) Act, 2012 to form the Pakistan Stock Exchange Limited as the only stock exchange in Pakistan.

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