MG Morning Breeze: Updates to Skim before Market

September 25, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Tech Beat: KSE100 poised to test 47,000

The benchmark KSE-100 index is poised to test the 47,000-47,200 resistance level in the coming days as long as 46,000 holds. Read more

• PKR strengthens by 5.09 rupees against US dollar in a week

The Pakistani rupee (PKR) sustained its upward trajectory throughout the week, appreciating by 5.09 rupees against the US dollar in the interbank session to settle at PKR 291.76 per USD, compared to the previous week's closing of PKR 296.85 per USD. Read more

• SBP expands SDRP with new Diamond category

A new 'Diamond' category has been added in addition to the existing three categories in the Sohni Dharti Remittance Program (SDRP), namely 'Green,' 'Gold,' and 'Platinum.’ Read more

• PSX Closing Bell: Seeing Green in the Charts

The stock market continued its upward trajectory, building on the bullish momentum from the previous day with the benchmark KSE-100 index closing at 46,421.15, marking a gain of 219.03 points or 0.47% DoD. Read more

• SECP notifies amendments to NBFC rules

The Securities and Exchange Commission of Pakistan (SECP), with the approval of the federal government, has notified amendments to the Non-Banking Finance Companies. Read more

• MUGHAL declares Rs3.20 DPS despite a 36% drop in profits

Mughal Iron and Steel Industries Limited (PSX: MUGHAL) has reported a profit of Rs3.48 billion [EPS: Rs10.37] for the fiscal year 2023. Read more

• Fatima Fertilizer approves Rs7.66bn equity investment in REITS

The shareholders of Fatima Fertilizer Company Limited (PSX: FATIMA) in the annual general meeting (AGM) held on September 22, 2023. Read more

• MoC calls for tougher measures against smuggling via Afghan transit trade

In order to tighten the reign of increasing smuggling-prone items imported by Afghanistan in transit through Pakistan, the Ministry of Commerce (MoC) has requested the Federal Board of Revenue (FBR) to take stricter measures. Read more

• Weekly SPI surges by 38.66% YoY

The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.93% WoW during the week ended September 21, 2023, while the SPI surged by 38.66% YoY compared to the corresponding period from last year. Read more

• TPLI acquires Pakistani branch of NHIC

The acquisition of the net assets of the Pakistani Branch of New Hampshire Insurance Company (NHIC) by TPL Insurance Limited (PSX: TPLI) has been sanctioned by the Honorable High Court of Sindh vide an Order dated September 13, 2023. Read more

• BAHL to set up an exchange company with Rs1bn paid-up capital

The Board of Directors of Bank AL Habib Limited (PSX: BAHL) has approved the establishment of an Exchange Company with an initial paid-up capital of up to Rs1 billion. Read more

• Weekly SCRA records net sale of Rs720m

The gross sale of securities during the week was recorded at Rs3.58 billion, which is around 32.31% lower than the figures recorded last week. Read more

• Govt launches Centralized Gateway Portal

In a groundbreaking development for Pakistan's financial sector, the Centralized Gateway Portal was officially launched today at the CDC House in Karachi. Read more

• Pakistan, USA continue to seek ways to enhance cooperation

The U.S.-Pakistan Business Council (USPBC) will continue to engage with the government of Pakistan to seek mutually beneficial ways of enhancing cooperation, President of USPBC. Read more

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