Market Analysis

Oil Prices Drop Amid Persistent Demand Concerns and Supply Risks in Libya On Wednesday, global oil prices fell by around 1%, primarily driven by ongoing concerns over weakened demand from China and the possibility of a broader economic slowdown. Despite these factors exerting downward pressure on prices, the losses were somewhat cushioned by significant supply risks emanating from the Middle …

The Hub Power Company Limited (HUBC) has reported robust financial results for the fiscal year 2024 (FY24), with consolidated earnings reaching PKR 70,018 million (Earnings Per Share: PKR 54.0), marking a 22% year-on-year (YoY) increase compared to PKR 57,554 million (EPS: PKR 44.4) in FY23. Despite a 14% YoY decline in profitability during the fourth quarter of FY24 (4QFY24), where …

Market Overview On Friday, the Pakistan Stock Exchange (PSX) witnessed continuous fluctuations, with the KSE-100 index ending the day flat despite some volatility. The market was under pressure due to the nearing end of the corporate earnings season and the futures rollover, which influenced investor sentiment. Trading Session Highlights The trading day started positively, with the KSE-100 index reaching its …

Market Commentary Pakistan Weekly Market Update: The week commenced with slight market pressure due to Pakistan’s absence from the IMF Executive Board’s schedule for August 2024, leading to concerns about the disbursement of the expected tranche. However, optimism returned midweek when the Finance Minister announced progress in negotiations with the IMF, suggesting the possibility of securing approval from the IMF …

Introduction and Overview Engro Corporation Limited, one of Pakistan’s leading conglomerates with diversified interests in various sectors including fertilizers, petrochemicals, energy, and food, has recently disclosed its financial performance for the first half of calendar year 2024 (1HCY24). The results have been a mix of achievements and challenges, signaling complex dynamics within the business environment. For 1HCY24, Engro posted a …

Oil prices saw a slight decline on Wednesday after an unexpected rise in US crude inventories and a reduction in concerns over potential disruptions in the Middle East. Market Movement Brent Crude Futures: Fell by 41 cents (0.5%), reaching $80.28 per barrel by 1436 GMT. US West Texas Intermediate (WTI) Crude Futures: Dropped by 55 cents (0.7%), settling at $77.77 …

State Bank of Pakistan (SBP) Governor Jameel Ahmad has expressed optimism about the country’s economic outlook, attributing the positive shift to effective measures implemented by the government and central bank. His message, delivered by Executive Director Muhammad Haroon Rasheed during Independence Day celebrations at the SBP, outlined significant improvements in macroeconomic indicators. Decline in Inflation and Reduction in Current Account …

Overview of the New Budget Pakistan’s economic outlook is currently marred by fiscal challenges, as detailed in the Lahore School of Economics’ recent report. For the fiscal year 2024-25, the budget has been significantly expanded, with expenditures rising from Rs14.5 trillion to Rs18.9 trillion. This increase is largely driven by the government’s ambitious target to boost tax revenue from Rs9.4 …

In a significant financial milestone, The Hub Power Company (HUBCO) has reported its highest-ever Profit After Tax (PAT) of PKR 17.1 billion in the first quarter (1Q) of its fiscal year. This remarkable increase in profitability can be attributed to several factors, including the expansion of its portfolio and favorable currency exchange rates. Record-Breaking Earnings: HUBCO’s achievement of PKR 17.1 …