March 25, 2020 (MLN): Attock Cement Pakistan Limited has decided to temporarily suspend the plant operations with immediate effect in view of the prevailing lockdown announced by the Gov’t of Sindh and Baluchistan in order to control the spread of COVID-19.
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April 09, 2020: PMEX Commodity Index finally bounced back from the bear market as it gained 487 points to close at 3,765 on Wednesday. The traded value of Metals, Energy and COTS/FX was recorded at PKR 5.047 billion and the number of lots traded was 13,282.
The major business was contributed by Gold amounting to PKR 2.100 billion, followed by Crude Oil (PKR 931.696 million), NSDQ 100 (PKR 570.029 million), DJ (PKR 480.787 million), Currencies through COTS (PKR 412.166 million), SP500 (PKR 161.944 million), Silver (PKR 116.724 million), Natural Gas (PKR 100.946 million), Platinum (PKR 86.027 million), Japan Equity (PKR 81.363 million) and Copper (PKR 5.687 million).
In agriculture commodities, 13 lots of Cotton amounting to PKR 5.849 million were traded.
Press Release
April 09, 2020 (MLN): The capital markets witnessed strong gains on Thursday, racking up 866 points in line with global equity markets while news of IMF to disburse an additional $1.43 billion to Pakistan to support the economic impact of COVID-19 improved investors’ sentiments.
Moreover, the hopes that the talk between OPEC and its allies for output cut and decline in T-Bills yields in yesterday’s auction remained the key upside triggers for the market.
The KSE-100 index closed at 31,837-mark i.e. 2.80% higher than the previous closing.
The Index remained positive throughout the session touching an intraday high of 32,009.88
Of the 97 traded companies in the KSE100 Index, 84 closed up 11 closed down, while 2 remained unchanged. The total volume traded for the index was 172.68 million shares.
Sectors propping up the index were Commercial Banks with 201 points, Oil & Gas Exploration Companies with 150 points, Fertilizer with 102 points, Cement with 94 points and Oil & Gas Marketing Companies with 67 points.
The most points added to the index were by PPL which contributed 52 points followed by FFC with 49 points, OGDC with 45 points, UBL with 45 points and PSO with 40 points.
Sector-wise, the index was let down by Tobacco with 11 points, Close - End Mutual Fund with 3 points and Sugar & Allied Industries with 1 point.
The most points taken off the index were by PAKT which stripped the index of 11 points followed by COLG with 3 points, HGFA with 3 points, GLAXO with 2 points and JDWS with 1 point.
All Share Volume increased by 35.51 Million to 216.51 Million Shares. Market Cap increased by Rs.120.58 Billion.
Total companies traded were 352 compared to 333 from the previous session. Of the scrips traded 276 closed up, 57 closed down while 19 remained unchanged.
Total trades increased by 13,738 to 90,962.
Value Traded increased by 2.65 Billion to Rs.8.55 Billion
| Company | Volume |
|---|---|
| Maple Leaf Cement Factory | 21,403,000 |
| Hascol Petroleum | 21,109,000 |
| Unity Foods | 12,418,000 |
| K-Electric | 11,128,500 |
| Pioneer Cement | 9,279,000 |
| Fauji Cement Company | 8,546,500 |
| Pak Elektron | 7,922,000 |
| The Bank of Punjab | 6,465,500 |
| Kohat Cement Company | 5,868,000 |
| Oil & Gas Development Company | 5,564,474 |
| Sector | Volume |
|---|---|
| Cement | 61,257,391 |
| Oil & Gas Marketing Companies | 27,291,225 |
| Commercial Banks | 16,650,132 |
| Technology & Communication | 14,677,100 |
| Power Generation & Distribution | 14,676,287 |
| Vanaspati & Allied Industries | 12,418,200 |
| Oil & Gas Exploration Companies | 10,180,037 |
| Cable & Electrical Goods | 8,045,300 |
| Food & Personal Care Products | 6,871,150 |
| Engineering | 6,701,900 |
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April 09, 2020 (MLN): Pakistani rupee (PKR) appreciated by 57 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 167.19 per USD, against yesterday's closing of PKR 167.76 per USD.
The rupee saw a volatility free session as very little movement was recorded trading in a range of 65 paisa per USD showing an intraday high bid of 167.75 and an intraday Low offer of 167.20.
Within the Open Market, PKR was traded at 167/168.50 per USD.
Alternatively, the currency lost 95 paisa to the Pound Sterling as the day's closing quote stood at PKR 207.38 per GBP, while the previous session closed at PKR 206.43 per GBP.
On the other hand, PKR's value strengthened by 35 paisa against EUR which closed at PKR 181.71 at the interbank today.
On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.347 billion for 8 days at 11.01 percent.
The overnight repo rate towards close of the session was 10.80/11.05 percent, whereas the 1 week rate was 10.95/11.05 percent.
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April 9, 2020 (MLN): Pakistan Telecommunication Company Limited (PTCL) has announced its financial results for the first quarter of CY20 ended March 31, 2020. As per the results, the company has incurred losses worth Rs 406 million compared to net profits of Rs 1.99 billion of the corresponding period of last year.
The company’s gross profits plunged by around 19% YoY due to a decline in sales revenue by 5% despite a meagre increase of 0.58% YoY in the cost of sales, shrinking gross margins from 29% to 25%.
On the expense front, the administrative and general cost of the company reached to Rs 4.37 billion, up by 7% YoY owing to augmented distribution activities. The company bore selling and marketing cost which hiked to Rs 1.80 billion i.e. 4.47% YoY higher than the same period of last year owing to augmented distribution activities.
Another blow came from high impairment losses on trade debts and contract assets which went up by 86% YoY to Rs 1.14 billion.
On the other hand, other income jumped by around 46% YoY to Rs 2.15 billion.
Meanwhile, the substantial growth was recorded in the finance cost of the company which surged by 69 times YoY to Rs 3.27 billion. However, a tax reversal of Rs 114 million came as a breather in the bottom line.
Consolidated Financial Results for the Quarter ended March 31, 2020 ended ('000 Rupees) | |||
|---|---|---|---|
| Mar-20 | Mar-19 | %Change |
Revenue | 31,825,093 | 33,534,964 | -5.10% |
Cost of services | (23,901,901) | (23,764,414) | 0.58% |
Gross profit | 7,923,192 | 9,770,550 | -18.91% |
Administrative and general expenses | (4,373,912) | (4,075,781) | 7.31% |
Selling and marketing expenses | (1,805,047) | (1,732,766) | 4.17% |
Impairment loss on trade debts and contract assets | (1,138,233) | (609,345) | 86.80% |
| (7,317,192) | (6,417,892) | 14.01% |
Operating Profit | 606,000 | 3,352,658 | -81.92% |
Other income | 2,151,342 | 1,469,732 | 46.38% |
Finance cost | (3,278,828) | (1,940,370) | 68.98% |
(Loss)/Profit before tax | (521,486) | 2,882,020 | - |
Provision for income tax | 114,762 | (884,106) | - |
(Loss)/Profit for the period | (406,724) | 1,997,914 | - |
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April 9, 2020 (MLN): K-Electric Company has appointed Riyadh S.A.A Edrees as Chairman with effect from April 9, 2020, in place of Ikram Ul Majeed Sehgal, who resigned from the position on November 6, 2019.
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