MG Morning Breeze: Updates to Skim before Market

October 12, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PKR on a winning spree, gains another rupee against greenback

The Pakistani rupee (PKR) appreciated by around 1 rupee against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 279.51 per USD, compared to the previous session's closing of PKR 280.51 per USD. Read more

• Domestic gold rebounds, appreciates by Rs5,500 per tola to Rs205,000

Domestic bullion rebounded on Wednesday after witnessing a major setback in yesterday's session when the market reopened, with 24-karat gold appreciating by Rs5,500 per tola to reach Rs205,000. Read more

• Car sales jump by 8.5% MoM in September

Passenger car sales witnessed an increase of 8.48% MoM in September 2023, clocking in at 6,410 units compared to 5,909 units recorded in the previous month. Read more

• SBP suspends authorization of 5 exchange companies of ‘B’ category

The State Bank of Pakistan (SBP) on Wednesday suspended the authorization of five Exchange Companies of B-category with immediate effect until further notice. Read more

• PSX Closing Bell: Leveraging Gains

The local bourse continued to display strong performance in Wednesday’s trading session, further extending its gains. Read more

• CDNS secures Rs20bn in Islamic Finance in 1QFY24

The Central Directorate of National Savings (CDNS) has secured Rs20 billion in Islamic Finance in the first quarter of the current Fiscal Year from July 01 to September 30, 2023-24. Read more

• PACRA maintains entity ratings of LalPir Power Limited

Pakistan Credit Rating Agency Limited (PACRA) has maintained entity ratings of LalPir Power Limited (PSX: LPL) at "AA" for the long term and "A1" for short term with a stable outlook forecast. Read more

• SIUT Trust offers to purchase PHDL’s Regent Plaza for Rs14.5bn

The SIUT Trust has decided to acquire the property of Pakistan Hotel Developers Limited (PSX: PHDL) hereinafter referred to as Regent Plaza Hotel at Shahrah-e-Faisal, Karachi for a sum of Rs14.5 billion. Read more

•  SAZEW sells 1,026 auto rickshaws in September, down by 5.79% MoM

Sazgar Engineering Works Limited (SAZEW) sold 1,026 units of Auto Rickshaw during September 2023, which was 5.79% MoM lower than the sales of 1089 units made in the previous month. Read more

• SBP aims to raise Rs10.67tr: Auction Calendar Oct-Dec

The government is targeting to raise Rs10.67 trillion during the next three months (October-December) of FY24, through the auction of Market Treasury Bills (MTBs), Pakistan Investment Bonds (PIBs) Fixed Rate, and PIBs Floating Rate. Read more

• PRL breaks previous records of production in September 2023

Pakistan Refinery Limited (PSX: PRL) achieved historic production levels in September 2023, marking a significant milestone. Read more

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