MG Morning Breeze: Updates to Skim before Market

March 25, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Weekly Market Roundup

The benchmark KSE-100 index recorded a weekly gain of 335 points, or 0.52% to close at 65,152, as insurance companies largely absorbed the selling pressure throughout the week. Read more

• PKR gains 60 paisa against USD in a week

The Pakistani rupee (PKR) appreciated by 60 paisa this week against the US Dollar to settle at PKR 278.14 per USD, compared to the previous week's closing of PKR 278.74 per USD. Read more

• Weekly Corporate Buzz

MG's Weekly Corporate Buzz provides the reader with a concise recap of the latest corporate news. Read more

• Domestic 24-Karat gold retreats Rs4,200 to Rs228,200 per tola

The domestic bullion retreated on Friday, with the price of 24-karat gold losing Rs4,200 to Rs228,200 per tola in line with international gold prices. Read more

• CDNS raises profit rates on majority National Saving Schemes

The Central Directorate of National Savings (CDNS) has raised the profit rates on majority of its National Savings Schemes, with the hike going as much as 24 basis points (bps). Read more

• World Bank grants $149.7m for Pakistan’s digital economy

The World Bank’s Board of Executive Directors has approved $149.7 million in financing for Pakistan to support two projects; the Digital Economy Enhancement Project (DEEP) and the Sindh Barrages Improvement Project (SBIP). Read more

• Qatar Fund aims to expand investments in Pakistan’s power generation

The Qatar Fund for Development (QFFD) on Saturday showed its interest in increasing the footprint of QFFD in the power generation and housing sectors in Pakistan. Read more

• Pakistan, Saudi Fund ink $107m deals for hydropower projects

Pakistan and the Saudi Fund for Development (SFD) signed two loan agreements on Friday for the Shounter Hydropower Project (48 MW) worth $66 million and the Jagran IV Hydropower Project (22 MW) worth $41m. Read more

• Weekly inflation decreases by 1.13%

The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 1.13% WoW during the week ended March 21, 2024, while the SPI rose 29.06% YoY compared to the corresponding period from last year. Read more

• OMO Result: SBP injects Rs8.18tr

The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah-compliant Modarabah-based Open Market Operation (OMO), in which it cumulatively injected a total of Rs8.18 trillion into the market. Read more

• Foreign investors buy Rs4.16bn worth of securities via SCRA

The net purchase of securities for the week ended March 15, 2024, clocked in at Rs4.16bn, as compared to a net purchase worth Rs2.53bn recorded last week, according to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan. Read more

Copyright Mettis Link News