MG Morning Breeze: Updates to Skim before Market

September 08, 2023 (MLN): The aim of Morning Breeze is to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Domestic gold tumbles Rs23,300 per tola in 4 days amid robust PKR

Domestic bullion continued its downward trajectory on Thursday as the price of 24-karat gold dropped by Rs5,800 per tola, closing at Rs216,500. Read more

• PKR gains 2 rupees in interbank, 6 rupees in open market against USD

The Pakistani rupee (PKR) appreciated by 2.04 rupees against the US dollar in Thursday's interbank session as the currency settled the trade at PKR 304.944 per USD. Read more

• SBP reserves fell by $70m in a week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) diminished by $70 million or 0.89% WoW to $7.78 billion during the week ended on September 01, 2023. Read more

• Petrol prices likely to rise by Rs9.70 per litre

Petrol and High-Speed Diesel (HSD) prices are likely to increase by Rs9.70 and Rs11 per litre respectively due to a significant rise in the ex-refinery price. Read more

• PSX Closing Bell: Struggling to Gain Traction

The Pakistan stock market witnessed a somewhat volatile session on Thursday, as the KSE-100 index tested the 46,000 level during the session but failed to sustain it and sold off sharply in the later part of the day. Read more

• Govt refutes rumours of Rs5,000 Note ban, vows to crack down on fake news spreaders

The government of Pakistan will take action against individuals spreading such fake news to incite chaos. Read more

• Interloop Limited posts 63% YoY profit growth in FY23, announces 20% cash dividend

Interloop Limited (PSX: ILP) experienced a notable 63.21% YoY increase in profitability in FY23. Read more

• SAZEW breaks records with astounding 8.4x YoY profit surge in FY23

Sazgar Engineering Works Limited (SAZEW) displayed remarkable financial prowess as the company reported a staggering 8.4x YoY surge in profits to Rs995 million. Read more

• Maple Leaf Cement posts Rs5.77bn profit in FY23, up 26.74% YoY

Maple Leaf Cement Factory Limited (PSX: MLCF) witnessed an increase in profitability in FY23, up by 26.74% YoY. Read more

• IMF, World Bank forge stronger alliance to confront global challenges

The International Monetary Fund (IMF) and the World Bank will further strengthen coordination to address the global challenges. Read more

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