PSX loses 44.45 points, closes at 32,806 points

ISLAMABAD - The Pakistan Stock Exchange (PSX) Friday witnessed bearish trend as KSE 100-index closed at 32,806.38 points as compared to 32,850.83 points on the last working day with the negative change of 44.45 points (0.14%). A total of 120,578,701 shares were traded compared to the trade of 204,362,252 shares during the previous day, whereas the value of shares traded during the day stood at Rs4.913 billion as compared to Rs9.405 billion during last trading day. As many as 332 companies transacted shares in the stock market, out of which 101 recorded gain and 209 sustained losses whereas the share prices of 22 companies remained unchanged. The three top traded companies were Hascol Petrol with a volume of 14,338,000 shares and price per share of Rs 14.93, Maple Leaf with a volume of 14,169,000 price per share of Rs 26.72 and Kot Addu Power with a volume of 11,984,500 and price per share of Rs23.22. Unilever FoodsXD recorded maximum increase of Rs441.75 per share, closing at Rs7999, Sapphire Fiber was runner up with the increase of Rs45.24 per share, closing at Rs 653.75. Philip Morris Pak recorded maximum decrease of Rs 156.52 per share, closing at Rs1930.47 whereas prices of Pak Tobacco decreased by Rs58.33 per share closing at Rs1629.67.

Pak exports to Africa up by 10pc in last 10 months

ISLAMABAD - The Prime Minister Adviser on Commerce and Investment, Abdul Razak Dawood on Friday said Pakistan’s exports to African countries have increased by 10 percent from July 1st , 2019 to April 21st, 2020, as compared to the same period during last Fiscal Year. “I would like to commend my team at the Ministry of commerce for the ‘Look Africa Policy Initiative’ under which rice exports increased by 20 percent from $ 500 to $ 600 milliom, tractors from $ 9 to 15 million, clothing from $ 4 to 50 million and bed linen from $ 30 to $ 36 million,” he shared these view on his twitter account. He also announced that Drawback of Local Taxes and Levies (DLTL) refunds of Rs 828 million for non-textile sector had been transferred to State Bank of Pakistan (SBP) and reimbursement would start from today.