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Investors take profit after two days of gains | The Express Tribune

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Investors take profit after two days of gains | The Express Tribune


Benchmark KSE-100 index closes up 30 points at 36,265.12. PHOTO: AFP/FILE


KARACHI:

The Pakistan Stock Exchange (PSX) on Tuesday reversed course after two days of notable gains as investors resorted to profit-booking at higher valuations, pulling the benchmark KSE-100 index down by over 1,500 points.

The market’s downturn was primarily triggered by selling in blue-chip shares from fertiliser, energy, banking and technology sectors. The battle for control between bulls and bears continued for almost throughout the day and eventually the latter prevailed.

In the morning, the market got off to a positive start, when it hit the intra-day high of 163,385 points. It remained in the black for only a brief period and dropped quickly. Following continuous fluctuations, the index reached its intra-day low of 161,159 more than an hour before the end of trading.

At close, the KSE-100 index registered a significant fall of 1,521.39 points, or 0.93%, and settled at 161,281.77.

In its review, Topline Securities said bears returned to the stock market as investors booked profits after a two-day rally. “The local bourse witnessed renewed bearish sentiment where investors opted for profit-taking. The KSE-100 index remained under pressure for most of the day, touching the intra-day low of 1,643 points before settling at 161,282, down 1,521 points (0.93%),” it said.

Blue-chip counters including Engro, Mari Petroleum, Bank AL Habib, MCB Bank and TRG Pakistan led the decline, which collectively eroded 543 points from the benchmark index.

Despite the negative close, the overall market activity stayed vibrant, with trading volumes rising to 899 million shares and traded value reaching Rs37 billion, Topline added.

Arif Habib Limited (AHL) reported that Tuesday saw a consolidation phase following two sessions of strong gains. On the KSE-100 index, 17 shares rose while 81 fell with Fauji Fertiliser Company (+1.77%), Pakistan Services (+9.62%) and DH Partners (+10%) contributing the most to index gains. Engro Holdings (-1.6%), Mari Petroleum (-2.06%) and Bank AL Habib (-2.32%) were the biggest index drags, it said.

AHL pointed out that Finance Minister Muhammad Aurangzeb in a virtual speech at the Pakistan International Maritime Expo & Conference said that seafood exports could cross $2 billion in the next three to four years compared to the current exports of $500 million.

Among corporate news, Fauji Cement (-1.75%) and Kapco (-1.44%) will jointly acquire 84.06% of the total issued and paid-up capital of Attock Cement. “The upside is anticipated to resume from the current support zone, which is 160-162k,” AHL remarked.

Overall trading volumes decreased to 899.4 million shares compared with the previous tally of 949.4 million. The traded value of shares stood at Rs37.3 billion.

Shares of 479 companies were traded on the ready market, out of which 133 closed higher, 314 declined and 32 remained unchanged.

WorldCall Telecom led the volumes chart with trading in 78.9 million shares, losing Rs0.04 to close at Rs1.81. It was followed by Telecard Limited with 76.9 million shares, rising Rs0.81 to close at Rs12.68 and K-Electric with 71.6 million shares, gaining Rs0.23 to close at Rs5.52. Foreign investors were sellers of shares worth Rs717.8 million, according to NCCPL.



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Rail modernisation: Railways plans 260 Vande Bharat sleeper rakes; phased rollout with advanced safety, comfort features – The Times of India

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Rail modernisation: Railways plans 260 Vande Bharat sleeper rakes; phased rollout with advanced safety, comfort features – The Times of India


The government has planned to manufacture 260 rakes of Vande Bharat Sleeper trainsets as part of efforts to upgrade long-distance rail travel with advanced safety systems and passenger comfort features, according to Union minister Ashwini Vaishnaw in a written reply in the Lok Sabha.The programme will be executed in phases covering prototype development, testing, trials and series production. The sleeper variant is being developed through a coordinated manufacturing effort involving BEML, Integral Coach Factory (ICF), Chennai and technology partners.

India Reveals First Vande Bharat Sleeper Offering Faster Overnight Travel On Kolkata-Guwahati Line

According to the official statement, the “development of new rolling stocks like Vande Sleeper necessitates a holistic approach, combining technological innovation, strategic planning and manufacturing to ensure a safe, reliable and comfortable travel.”The government said induction of Vande Bharat Sleeper trainsets into passenger services will be carried out in phases based on demand and operational readiness.“The process involves development of prototype, extensive testing and trials followed by series production,” the statement said.The project is part of the broader push to enhance passenger experience while improving operational efficiency and safety standards across the railway network.The new sleeper trainsets are being equipped with multiple advanced safety and passenger-centric features.These include semi-permanent jerk-free couplers and anti-climbers, KAVACH safety systems, and crashworthy coach design complying with EN safety standards. The trainsets will have fire barrier doors, aerosol-based fire detection and suppression systems in electrical cabinets and lavatories, and CCTV coverage across all coaches.The trains will also feature regenerative braking systems for energy efficiency and higher acceleration with a design speed of 180 kmph and operating speed of 160 kmph.Passenger comfort upgrades include centrally controlled automatic plug doors, fully sealed wider gangways, centrally monitored coach systems, and air-conditioning units fitted with indigenously developed UV-C lamp-based disinfection technology to improve hygiene inside coaches.Special provisions have been made for Divyangjan passengers, including dedicated lavatories in driving coaches, along with emergency talk-back units for passenger communication with the train manager or loco pilot during emergencies.



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Car finance: What happened and how much compensation will be paid?

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Car finance: What happened and how much compensation will be paid?



Millions could be entitled to compensation as a result of commission arrangements between lenders and dealers.



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Over 2.5 crore Aadhaar Numbers deactivated by govt due to…

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Over 2.5 crore Aadhaar Numbers deactivated by govt due to…


New Delhi: The Unique Identification Authority of India (UIDAI) has deactivated more than 2.5 crore Aadhaar numbers of deceased persons till date. This is as part of a nationwide clean-up effort to maintain the continued accuracy and integrity of the Aadhaar database, Union Minister of State for Electronics and Information Technology Shri Jitin Prasada in Lok Sabha on Wednesday.

Aadhaar is the world’s largest biometric identity system with approximately 134 crores live Aadhaar holders.

In case of the death of a person, it is essential that his/her Aadhaar number is deactivated to prevent potential identity fraud, or unauthorized usage of such Aadhaar number for availing welfare benefits.

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The State / UT mentioned in the address of an Aadhaar number holder in the Aadhaar database may vary from the State / UT where death was registered.

Measures to prevent potential identity fraud

Government has said that several measures have been taken to reduce the risk of identity fraud and ensure leak-proof delivery of benefits in the country. 

The key measures include: 

Biometric Lock/Unlock feature enables an Aadhaar number holder to “Lock” his biometrics, preventing any unauthorized authentication attempts.

Aadhaar Lock/Unlock feature for an Aadhaar number holder.

Deployment of Face Authentication having ‘Liveness Detection feature’ to prevent spoofing and ensure the physical presence of the beneficiary during transactions.

Offline Verification: Promotion of Aadhaar Secure QR Code, Aadhaar paperless offline e-KYC, e-Aadhaar and Aadhaar verifiable credentials for offline identity verification.

No sharing of Core Biometric information of Aadhaar number holders in any manner by UIDAI.

Secure Data Storage: Mandatory use of Aadhaar Data Vaults by all requesting entities to store Aadhaar numbers in an encrypted format.

Database Sanitization: Regular de-duplication and deactivation of Aadhaar numbers belonging to deceased persons.

Updation of demographic details of an Aadhaar number holder is allowed only as per documents listed by UIDAI.

UIDAI has launched a new Aadhaar app which facilitates sharing of verified credentials by Aadhaar number holder with the Offline Verification Seeking Entities (OVSE) in a secure and seamless manner.

 



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