Fertilizer Offtake Numbers
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The PSX-100 witnessed yet another week of strong upwards momentum, advancing 1444.60 points to close at 40,732.25.
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The official fertilizer statistics for the month of Oct’19 have been released by NFDC wherein Urea offtake displayed a mam-moth drop of 74% Y/Y to 119Kt only. Despite start of the Rabi season,
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PSX-100 witnessed a see-saw trading session as investors opted for profit taking, while late buying pushed the index to gain 222 points to settle at 40,665 points. Amid anticipation of future macro-economic stability,
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IMF’s executive board granted approval of an “Extended Fund Facility” (EFF) of USD6.2bn for Pakistan on July 3, 2019.
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