MG Morning Breeze: Updates to Skim before Market

October 07, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Pakistan stock market enters strongest season

Pakistan stock market may extend its rally further as it enters its best period of the year, historical seasonal trends suggest. Read more

• Beckoning Losses: TRG at un-Artificial Intelligence

TRG Pakistan Limited announced its FY2024 Annual Result on September 30th, 2024, declaring a massive loss of Rs30.84 billion. Read more

• Foreigners dump another $26m stocks

Foreign investors remained net sellers for the fifth week in a row, dumping $26.06m worth of equities, their biggest selling on a net basis in almost three year Read more

• OGDC’s profit collapse sinks Oil & Gas sector in Q4FY24

Oil & Gas Development Company Limited (PSX: OGDC), the leading Force in Pakistan’s Oil and Gas Exploration sector, posted a substantial drop in its quarterly. Read more

• The Rise of Robo Advisors: Balancing Technology and Personal Investment

Traditionally, investment decisions were made by financial advisors, but the rise of Robo-Advisors is now transforming the industry. Tasks such as portfolio design, diversification, rebalancing. Read more

• World Bank places Pakistan among struggling economies

The World Bank has classified Pakistan as an economy grappling with a challenging business environment characterized by relatively weak regulatory frameworks. Read more

• Weekly Corporate Buzz

Another action-packed week passed on Chundrigar Road, where a series of corporate. Read more

• PSX Weekly Market Roundup

Pakistan stocks surged this week as falling bond yields amid a larger-than-expected drop in inflation and an improvement in economic conditions. Read more

• Weekly Outlook: Fed rate cuts loom

Following the Fed Chairman’s remarks that two more normal sized rate cuts are likely, market pricing for the rate. Read more

• PSX recomposes JS Momentum Factor Index with 7 adjustments

The Pakistan Stock Exchange Limited (PSX) has conducted the JS Momentum Factor Index (JSMFI) recomposition exercise as of September 30, 2024. Read more

• Govt raises ‘Diyat’ value to Rs8.1m

Considering the increase in the silver rate, the federal government has increased the ‘Diyat’ value by Rs1,346 million. Read more

• PKR jumps by over 22 paisa against USD

The Pakistani rupee (PKR) appreciated by 22.44 paisa or 0.08% against the US dollar in Friday’s interbank session to settle the trade at PKR 277.52 per USD. Read more

• Weekly inflation rises 0.44%

Pakistan’s short-term inflation increased by 0.44% compared to last week as of October 03, 2024, while it rose 13.18% over the prior year. Read more

• Fertilizer sales drop 24% in Sep

Fertilizer sales fell 24.2% compared to last year amid weak agronomic conditions during September 2024. Read more

• Gas suspension under IMF agreement to trigger widespread industry closures

The government’s decision to suspend gas supply to Captive Power Plants (CPPs) by 2025 under the IMF agreement could lead to the widespread closure of medium. Read more

• Goodbye LIBOR

LIBOR’s long-running part in global finance has officially come to an end on September 30, 2024, with all 35 settings. Read more

• ECC approves 122% hike for Anti-Rabies Vaccine

ECC approved the proposal to increase the Maximum Retail Price of Anti-Rabies Vaccine (ARV) from Rs891.65 to Rs1,980 per vial of 0.5ml/ dose. Read more

• ECC approves Rs45bn TSG for defence projects

ECC approved a proposal submitted by Defence Division for a TSG amounting to Rs45bn for various already approved projects of defence services. Read more

• NA body seeks complete details of contracts made with IPPs

The National Assembly Standing Committee on Power Division on Thursday sought complete detail of contracts made with Independent Power Producers (IPPs). Read more

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