Stocks shows sharp recovery, index gains 533 points

Stocks shows sharp recovery, index gains 533 points: HumSub.TV

Stocks shows sharp recovery, index gains 533 points: HumSub.TV: Stocks show recovery on weekend on the back of value-picking by institutional investors in banks, oil, cement and fertiliser, the PSX shares index gained 533 points or (1.1pc) and to finish at 47,889.37 level.

Major contributors were HBL (gain 3pc), UBL (3.7pc), LUCK (2pc), PPL (3.4pc), and ENGRO (4.4pc) adding 276 points to the gain, brokers said. E&P sector gained to close (1pc) higher as crude oil prices surged to trade above $52/bbl level. This surge in crude oil prices came as a reaction to US air strike on Syrian airbase as it raised concerns to oil supplies disruption in the region.

OGDC (gain 0.85pc) and PPL (2.19pc) were the major index movers from the aforementioned sector. SSGC gained to close on its upper circuit for the second consecutive day on the back the news that company’s Board of Directors has conceptually approved a capital intensive project of worth Rs65 billion for the development of additional 1.2 BCFD capacity pipeline, said analyst at JS Global.

Bestway Cement (BWCL) notified the bourse that they won’t be proceeding with acquisition of Dewan Cement’s (DCL) North Plant due to delay from legal proceeding. The stock rose to its upper limit (5pc) as investors likely viewed the decision to retain the plant as more favourable for DCL shareholders, said dealers at Topline brokerage.

SSGC asked for further extension in laying of FY16 accounts; further the external auditors have raised concerns on going concern assumption of SSGC in the notice. Despite this, SSGC continued to rally (5pc) on the back of capital intensive RLNG pipeline and LPG Air-mix projects.

Overall, volumes increased by 4 percent to 152 million shares, while traded value decreased by 11 percent at Rs7.3 billion/$69 million. DCL was today’s volume leader with more than 21 million shares traded. The cement company gained to close on its upper circuit.

About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.

HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.

Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.

Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.

HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.

HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.

Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.

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