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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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April 19, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

Foreign investors injected $23.4 million into the Pakistan stock market on Thursday, the highest daily inflow since 2017, according to NCCPL data. Read more

The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $14.4 million or 0.18% WoW to $8.05 billion during the week ended on April 12, 2024, according to the data released by the central bank on Thursday. Read more

Automobile financing in Pakistan continued to drop in March, with the loans dropping to Rs239.44bn, a fall of 1.45% MoM compared to Rs242.95bn recorded in February 2024. Read more

Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp. Read more

The Pakistani rupee (PKR) depreciated by around 4 paisa against the US dollar in Thursday's interbank session as the currency settled the trade at PKR 278.44 per USD, compared to the previous session's closing of PKR 278.4 per USD. Read more

The benchmark KSE-100 index remained rangebound in Thursday's trading session and closed at 70,290.12 showing a marginal decrease of 43.20 points or 0.06%. Read more

Pakistan's revised trade deficit for March clocked in at $2.301 billion compared to a deficit of $1.743bn from the previous month, reflecting a rise of 32% MoM. Read more

Engro Fertilizers Limited's (PSX: EFERT) profits surged 59.4% YoY in the first quarter of 2024, with after-tax profits worth Rs8.8 billion [EPS: Rs6.59]. Read more

The country’s overall nutrient offtake surged 44.9% YoY to 436,000 tons during March 2024 as compared to an offtake of 301,000 tons in the same month last year. Read more

The Central Power Purchasing Agency (CPPA), a subsidiary of the Power Division, has demanded Rs2.94 per unit additional fuel cost for March 2024 to be recovered from consumers. Read more

Broad money (M2), Pakistan's most widely used measure of money supply, dropped by Rs141.4 billion WoW to Rs33.39 trillion as of April 05, 2024. Read more

The government of Pakistan has acquired an additional debt of Rs283.74 billion during the week ended April 05, 2024, which brings its total net borrowing for ongoing fiscal year 2024 to Rs4.08 trillion. Read more

Extending its journey of success, Meezan Bank Limited (PSX: MEBL)’s earnings surged by 64.52% YoY to Rs25.54 billion [EPS: Rs14.19] during the three months ended on March 31, 2024. Read more

The rally in the domestic bullion market cooled today as the price of 24-karat gold dropped by Rs1,700 per tola to Rs250,200. Read more

The government is targeting to raise Rs550 billion during the next three months (April-June) of 2024, through the auction of GOP Ijara Sukuk (GIS) that will be conducted by the Pakistan Stock Exchange Limited (PSX). Read more

Pakistan Telecommunication Company Limited's (PSX: PTC) consolidated losses fell to Rs4.79 billion in the third quarter of FY24. Read more

The trading activity at the Pakistan Mercantile Exchange (PMEX) observed an increase of 5.7% DoD on Wednesday as the traded contracts stood at Rs28.26 billion compared to the previous close of Rs26.73bn. Read more

Mari Petroleum Company Limited (PSX: MARI) has achieved a significant milestone in its exploration endeavours by successfully drilling and testing the third appraisal well in the Ghazij formation, located within the Mari Development & Production Lease (D&PL). Read more

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Posted on: 2024-04-19T07:34:37+05:00