Finance

KSE-100 Index Dips Below 78,000 Amid Lack of Positive Market Triggers On Wednesday, the Pakistan Stock Exchange’s (PSX) KSE-100 Index continued its recent downward trend, closing marginally lower at 77,992.78, a decline of 91.45 points or 0.12%. Despite early gains, the index could not sustain its momentum, reflecting the broader market’s struggle to find positive triggers. The trading session began …

Pakistan State Oil (PSO) Records Impressive Earnings in FY24 The marketing and sales of imported liquefied natural gas (LNG) in Pakistan have turned into a highly profitable venture after the government passed on rising international gas prices to local consumers. This move has enabled state-owned energy companies to avoid further accumulation of circular debt, reduce their reliance on bank borrowing, …

Pakistan Secures $436 Million in Foreign Loans During July 2024 In July 2024, Pakistan secured $436.39 million in foreign loans from various financing sources. This amount represents a sharp decline compared to the $2.890 billion borrowed in the same month of the previous fiscal year (FY24). The Economic Affairs Division (EAD) recently released data detailing the sources and amounts of …

Introduction The International Monetary Fund (IMF) has postponed the approval of Pakistan’s $7 billion bailout package, as it is not part of the IMF Executive Board’s agenda for the upcoming week. This delay adds to the uncertainty surrounding Pakistan’s efforts to stabilize its economy, which continues to struggle with significant financial challenges. IMF Executive Board Meeting Schedule The IMF’s Executive …

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 …

CCP Approves Alfalah Asset Management’s Acquisition of Faysal Asset Management’s Fund Management Rights The Competition Commission of Pakistan (CCP) has approved Alfalah Asset Management Limited’s acquisition of management rights for certain funds currently managed by Faysal Asset Management Limited. This approval follows a Transfer of Management Rights Agreement executed between the two asset management companies. Overview of Alfalah Asset Management …

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 …

SBP Foreign Exchange Reserves Post Marginal Weekly Increase The State Bank of Pakistan (SBP) has reported a slight increase in its foreign exchange reserves for the week ending August 16, 2024. According to the latest data released by the central bank on Thursday, the reserves held by the SBP have risen by $19 million on a weekly basis. The Numbers …

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 …