MG Morning Breeze: Updates to Skim before Market

August 24, 2023 (MLN): The aim of Morning Breeze is to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Auction Result: SBP sells T-bills worth Rs2.07tr

The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs2.07 trillion against a target of Rs2.25tr for 3 and 12 months.

• Banking sector spread decreases by 64bps MoM in July

The banking sector spread for the month of July 2023 has decreased by 64 basis points (bps) MoM to 7.09% as compared to a spread of 7.73% in June 2023.

• PSX Closing Bell: Keeping The Ship Steady

The benchmark KSE-100 index stayed in the red zone throughout most of today's trading session, before getting uplifted by Bank AL Habib Limited (BAHL)’s impressive earning results to close the day flat at 47,418.63 with 0.73 point gain.

• PKR hits new low of 299.635 against USD

The Pakistani rupee (PKR) continued its downward trend on Wednesday, depreciating by 63 paisa against the US dollar in the interbank and settling at PKR 299.635 per USD, compared to the previous session's closing of PKR 299.007 per USD.

• RDA: Inflows reach $6.5bn as of July

Total inflows into Roshan Digital Accounts (RDA) during July 2023 stood at $137 million, bringing the total cumulative inflows into RDA to $6.487 billion.

• PSO pays 75% dividend despite 90% profit drop in FY23

Pakistan State Oil Company Limited (PSX: PSO) experienced a significant fall of 89.75% YoY in its profitability in FY23, clocking in its profit after tax at Rs9.82 billion [EPS: Rs19.85] compared to a profit of Rs95.72bn [EPS: Rs194.35] in the same period last year (SPLY).

• GTYR firmly affirms adherence to regulatory compliance amid allegations

While refuting the recent allegations, the management of Ghandhara Tyre & Rubber Company Limited (GTYR) on Wednesday said that it always adhered to all the compliance and regulatory frameworks applicable to its business enterprise.

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