LATEST ARTICLES

CPI Inflation declined to 4.9% in November

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Pakistan’s inflation rate has taken a stunning nosedive, hitting 4.9% in November—the lowest since April 2018! This marks a sharp turnaround from the 7.2% recorded last month and an incredible drop from the staggering 29.2% seen in November 2023, as reported by the Pakistan Bureau of Statistics.

With inflation now comfortably within the State Bank’s target range of 5-7%, the economic outlook looks brighter than it has in years. The trend is further highlighted by the average inflation for the first five months of FY25, which stands at just 7.94%, a far cry from the 28.62% seen during the same period last year.

This dramatic improvement signals strengthened economic management, enhanced supply conditions, and potentially a more stable currency. For businesses and consumers alike, the numbers hint at a much-needed respite, laying the groundwork for sustainable growth and renewed confidence in Pakistan’s economic future.

Breaking Barriers: KSE-100 Index Hits Historic 100,000 Points – A New Era for Pakistan’s Market!

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Today, the KSE-100 Index of the Pakistan Stock Exchange (PSX) reached the historic milestone of 100,000 points for the first time in its history, making an intraday high of 100,540 level. This landmark achievement reflects strong investor sentiment and confidence in the market’s potential.

The recent clarity on Pakistan’s political front has significantly boosted investor confidence, triggering strong bullish momentum across various sectors i.e. Cement, Banking, E&P, Tech, OMC, Power and Pharma sectors.

The achievement of 100,000 points marks a turning point in the PSX’s history and signals continued growth, with analysts predicting further upward momentum driven by improving economic conditions and investor confidence.

Rollover Pressure and Political Chaos Drag KSE-100 Down 3,506 Points

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Today’s trading session on the Pakistan Stock Exchange (PSX) saw a notable downturn. The benchmark KSE-100 Index dropped by 3.57%, closing at 94,574 points, reflecting a loss of 3,506 points. The market opened at a high of 99,820 points but experienced a consistent decline, reaching an intraday low of 94,181 points. Trading volumes stood at 518 million shares, with a total value of PKR 31.14 billion.

Th e significant decline in the Pakistan Stock Exchange (PSX) was attributed to a combination of political uncertainty surrounding the ongoing PTI (Pakistan Tehreek-e-Insaf) march and heightened volatility linked to rollover week activity in the futures market.

Sectors-wise, the E&P, Fertilizer, Cement, Power, Pharma, Tech, OMC, and Banking stocks stripped off 2,812 points from the Index. While the Property, Sugar, and Leasing stocks were the positive contributors.

Global Footprint: BOP to establish Wholesale Banking Unit in Bahrain and Representative Office in UAE”

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The Board of Directors of the Bank of Punjab (BOP) has approved the business plan to establish a Wholesale Banking Unit in the Kingdom of Bahrain and a representative office in United Arab Emirates, subject to approval from State Bank of Pakistan (SBP) and other regulators. Following approval from the SBP, the Bank will approach other regulatory authorities to establish a Wholesale Banking Branch in Bahrain and a representative office in UAE.

MARI’s subsidiary secure mineral exploration licenses in the Chagai district of Balochistan.

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The Directorate General Mines & Minerals Balochistan has granted two Exploration Licenses EL-322 and EL-323, and allotted area of 501.03 sq. km and 512.76 sq. km, respectively, for mineral exploration in District Chagai of Balochistan to Mari Mining Company (Pvt) Limited (MMC), which is a wholly owned subsidiary of Mari Petroleum Company Limited (MPCL).

It is pertinent to mention that MPCL established the MMC to undertake mineral mining projects within the Country. The grant of new licenses aligns with MPCL’s strategy to expand its portfolio of mining projects and reflects its commitment to contributing to the growth of Pakistan’s mineral mining sector.

Government Greenlights Tax-Heavy Budget Ahead of Crucial IMF Loan Talks

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Pakistan’s parliament on Friday passed the government’s tax-heavy finance bill for the coming fiscal year ahead of more talks on a new bailout with the International Monetary Fund (IMF) as it seeks to avert a debt default for an economy growing at the slowest pace in South Asia.

The government presented the tax-loaded budget two weeks ago, drawing sharp criticism from opposition parties and other business entities that expressed concern over rising government expenditures and little fiscal room for economic growth.

Finance Minister Muhammad Aurangzeb moved the finance bill in parliament, which was endorsed by the ruling alliance led by Prime Minster Shehbaz Sharif. Pakistan Muslim League-Nawaz (PML-N), the party in command at the centre, saw its main coalition partner, the Pakistan Peoples Party, disagree with some of the budgetary measures before announcing its support earlier this week.

Meanwhile, addressing the National Assembly, the finance minister said that the country’s economic indicators are moving in the right direction.

KSE 100 Skyrockets to Historic 78k Milestone!

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The Pakistan Stock Exchange (PSX) experienced a buying frenzy as the benchmark KSE-100 index surged by over 1,500 points during the opening hours of the first trading session following the Eid holidays on Thursday.

The bullish spell is mainly observed in the Banking stocks i.e. UBL, MCB, HBL, BAHL, MEBL stock.

In a key development, Fitch Ratings on Tuesday called Pakistan’s budget for fiscal year 2024-25 “ambitious”, but stressed that it strengthens prospects for a deal with the International Monetary Fund (IMF). “It is uncertain whether fiscal targets will be hit, but even assuming only partial implementation of the budget, we forecast the fiscal deficit will narrow. This should reduce external pressures, albeit at a cost to growth,” it said in the commentary.

LSMI output surged by 5.8% YoY in April

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In April 2024, Pakistan’s Large-scale Manufacturing Industries (LSMI) production dropped sharply by 8.14%, down from 115.78 in March 2024.

However, on a month-on-month basis, the LSMI output rose by 5.76% year-on-year, reaching 106.35, up from 100.56 in April 2023, according to the Pakistan Bureau of Statistics (PBS).

For the 10-month period ending in April 2024, the cumulative LSMI production has slightly increased by 0.45% compared to the same period last year.

SPI surged by 1.3% WoW

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According to data released by the Pakistan Bureau of Statistics (PBS), the Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.3% WoW during the week ended June 13, 2024, while the SPI rose 23.03% YoY compared to the corresponding period from last year.

During the week, out of 51 items, prices of 19 items increased, price of 08 items decreased and price of 24 items remained stable.

KSE-100 Index soars with record-breaking single-day gain of 3,411 points!

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Bulls added 3,411 points (↑ 4.69%) to the KSE – 100 Index to close at 76,208 level. Trading Turnover was recorded at 636Mn (117% Up) against the Traded Value of PKR 30.75Bn.

The Index remains bullish and recorded the highest points gain in a single session as the Investors welcomed the Budgetary measure in the Finance Bill FY-2024-25.

Sectors-wise, the Banks, E&P, Fertilizer, Cement, Power, Tech, Pharma, OMC, and Inv-Banking stocks added 3,170 points to the Index. While the Textile, Food, and Leasing stocks were the negative contributors.