GIS Auction: 1Y Sukuk yield falls below 11%

MG News | November 06, 2024 at 09:24 PM GMT+05:00

0:00

November 06, 2024 (MLN): The Pakistan Stock Exchange (PSX) conducted an auction today for the sale of Government of Pakistan Ijara Sukuk (GIS) bonds, raising Rs339.15 billion against Rs300bn target for GIS Fixed Rate Discounted (FRD), GIS Variable Rental Rate (VRR), and GIS Fixed Rental Rate (FRR).

The cut-off yield for 1-year FRD fell to 10.99%, down 76 basis points (bps) from last auction.

The cut-off yields for GIS FRR also decreased to 11.5% for the 3-year (-50bps), 12.1% for the 5-year (-43bps), and 11.7% for the 10-year (-104bps).

Moreover, the cut-off yields for GIS VRR stood at 13.2549% for the 3-year (-90bps from reference rate), 13.3959% for the 5-year (-76bps from reference rate), and 13.8227% for the 10-year (-33bps from reference rate).

To note, the reference rate for GIS VRR was 14.1545%

The auction received bids totalling Rs875.22bn, out of which Rs222.71bn were received for GIS FRD, Rs548.7bn for GIS VRR and Rs103.81bn for GIS FRR, respectively.

	Competitive	Non-Competitive	Total
GIS FRD	107,511.9	8,826.6	116,338.5
GIS VRR	201,145	4,199	205,344
GIS FRR	13,700	3,762.4	174,62.4
Net Total	322,356.9	16,788	339,144.9

Amount in PKR Million

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	164,835.11 179.96M	0.54% 886.16
ALLSHR	98,671.27 387.11M	0.57% 556.21
KSE30	49,529.07 116.79M	0.27% 132.30
KMI30	236,636.88 93.10M	0.54% 1269.20
KMIALLSHR	64,016.76 195.30M	0.58% 371.13
BKTi	45,647.27 49.09M	0.03% 15.78
OGTi	34,049.07 8.84M	1.79% 599.54

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	80,955.00	81,725.00 80,040.00	565.00 0.70%
BRENT CRUDE	112.67	114.44 111.88	-1.77 -1.55%
RICHARDS BAY COAL MONTHLY	113.00	0.00 0.00	0.30 0.27%
ROTTERDAM COAL MONTHLY	109.50	111.45 109.50	0.30 0.27%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	103.81	105.48 103.08	-2.61 -2.45%
SUGAR #11 WORLD	15.30	15.43 15.27	0.01 0.07%