Stocks Observer. com

KARACHI: Oil and Gas Development Company Limited (OGDCL) floated a tender on Friday inviting private sector participation in the fast-track realisation of additional local LPG production of up to 500 metric tonnes per day from Kunnar Pasakhi Deep, Tando Allah Yar, and Sinjhoro fields. It is estimated that the additional local production of 500 metric tonnes per day will create 5,000 job opportunities, provide energy for half a million households not having access to natural gas grid, encourage investment in Pakistan and provide assurance and substantial revenues for OGDCL. The LPG Association of Pakistan (LPGAP) has strongly welcomed the initiation of the process to realise 500 metric tonnes per day of additional local LPG production in Pakistan on a fast-track basis.

KARACHI: The Karachi stock market witnessed a bearish trading session on Friday as investors went for profit-taking. Analysts said that the 100-share index failed to sustain its positive momentum on the last trading day of the week despite opening in the green zone amid high liquidity cost and limited availability of CFS, which remained a major concern for investors. The Karachi Stock Exchange (KSE) 100-share index shed 53.35 points or 0.89 percent to close at 5,969.09 points as compared to 6,022.44 points traded in the previous session. The KSE 30 index also lost 118.44 points and closed at 6,132.50 points as compared with 6,250.94 points of the previous session. The KMI 30 index decreased by 204.42 points to close at 7,875.11 points as against 8,079.53 points of the previous session. The market turnover fell 16.17 percent and traded 229.95 million shares as compared to 235.73 million shares traded in the previous session. The overall market capitalisation decreased by 0.85 percent an...