KARACHI: The net profit earned by the top 100 performing companies listed on the Pakistan Stock Exchange (PSX) surged 51%, reaching a new record high of over Rs1.5 trillion in the year ended December 2023. The major causes of depreciation in the domestic economy, namely high inflation rates, high interest rates, and rupee depreciation, provided a strong basis for different sectors to maintain a
KARACHI: Bulls held sway over the Pakistan Stock Exchange (PSX) on Wednesday as bullish momentum returned which helped the KSE-100 index gain nearly 500 points after Moody’s ratings agency maintained a stable outlook on Pakistan’s credit rating. Earlier, the trading session began with a dip but soon bulls took over on optimism about the rating outlook. The market got further boost from anoth
KARACHI: After posting losses overnight, the stock market on Wednesday resumed its upward drive due to political clarity and strong corporate results as investors opted to do some cherry-picking at attractive levels. Topline Securities Ltd said the equities remained bullish almost throughout the session thanks to further clarity with regards to formation of new government in the centre. The
ISLAMABAD: Pakistan and Saudi Arabia have agreed to work towards increasing investment in key sectors, paving the way for sustainable economic growth and prosperity. The agreement reached between the two countries during a recently concluded visit of the Federal Minister for Commerce, Industries and Production, Investment, Interior and Overseas Pakistanis, Dr Gohar Ejaz to Saudi Arabia, where h
LONDON: Bitcoin hit $60,000 on Wednesday for the first time in more than two years, as a flurry of capital into new US spot bitcoin exchange traded products fuelled a 42% price rally in February, which would mark its largest monthly gain since December 2020. Bitcoin was last up 6% at $60,131, its highest since November 2021, when it hit a record just below $70,000. Bitcoin was also heading for