August 28, 2023 (MLN): The aim of Morning Breeze is to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Gold Weekly Review: Bullion shines bright as rupee falls

24-karat gold closed the week at Rs234,500 per tola, marking a weekly surge of Rs8,700 per tola, or 3.84%. Read more

• Tech Beat: Crude Oil’s Path Amid Supply Worries, Rate Dynamics

Crude Oil’s seven-week gains in prices cooled off briefly. Technical analysis indicates a potential reversal signalled by a doji candle at key resistance and a small Head and shoulders pattern. Read more

• Weekly SCRA records net purchase of Rs568m

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs2.75 billion, which is around 42% lower than the figures recorded last week. Read more

• PSX Closing Bell: Losing The Wind In The Sails

The benchmark KSE-100 index ended the week on a negative note, losing 79.55 points or 0.17% DoD to close at 47,671.22. Read more

• PKR depreciates by 5.22 rupees or 1.74% over the week against greenback

The Pakistani rupee (PKR) depreciated by 78 paisa against the US dollar in Friday’s interbank session as the currency settled the trade at PKR 301.003 per USD, compared to the previous session’s closing of PKR 300.225 per USD. Read more

• SBML’s loss rises 2.53x YoY to Rs1.73bn in 1HCY23

Summit Bank Limited (PSX: SBML) has revealed its financial statement for the half year ended June 30, 2023, as per which the bank posted a loss after tax worth Rs1.73 billion [LPS: Rs0.43], depicting a significant rise of 2.53x YoY. Read more

• JS Bank secures 483m shares of BankIslami through public offer

JS Bank has successfully garnered applications for 483 million shares of BankIslami Pakistan Limited (PSX: BIPL), exceeding the original offer size of 276 million shares through a public offer that commenced on August 15, 2023. Read more

• BOK’s profit soars to Rs1.69bn in 6MCY23

The Bank of Khyber (PSX: BOK) has revealed its financial statement today for the half year ended June 30, 2023, as per which the bank posted a profit worth Rs1.69 billion [EPS: Rs1.53]. Read more

• PSMC suffers massive loss of Rs9.68bn in 6MCY23

Pak Suzuki Motor Company Limited (PSX: PSMC) losses expanded substantially to Rs9.68bn [LPS: Rs117.28] compared to a mere loss of Rs17.24 million [LPS: Rs0.21] in the same period last year (SPLY). Read more

• Weekly inflation increases by 0.05%

The Weekly Sensitive Price Indicator (SPI) for the Combined Group inched up by 0.05% WoW during the week ended August 24, 2023, while the SPI increased by 25.34% YoY compared to the corresponding period from last year. Read more

• Mari receives exploration license for mineral exploration in Baluchistan

Mari Petroleum Company Limited (PSX: MARI) has been granted an Exploration License (EL-186) and has been allotted an area of 501 sq. km for mineral exploration. Read more

• Unilever Pakistan delivers stellar 1HCY23 performance, Profits surge to Rs5.2bn

Unilever Pakistan Foods Limited (PSX: UPFL) profitability jumped by 55.22% YoY to clock in at Rs5.2 billion [EPS: Rs814.67] in 1HCY23. Read more

• HMB posts 74% growth in profits, declares 50% dividend

Habib Metropolitan Bank (PSX: HMB) has unveiled its financial results for the first half of the calendar year 2023, as per which the bank made profits of Rs12.14 billion [EPS: Rs11.32]. Read more

• COLG’s profit soars by 77% in FY23, revised EPS clocks in at Rs42.88

Colgate Palmolive (Pakistan) Limited (PSX: COLG) experienced a significant rise of 77.29% YoY in its profitability, clocking in its profit after tax at Rs10.41bn [EPS: Rs99.48] for the year ended June 30, 2023. Read more

• BOP’s profit declines by 36% YoY to Rs3.46bn in 1HCY23

The Bank of Punjab (PSX: BOP) posted a profit worth Rs3.46 billion [EPS: Rs1.02] for the half year ended June 30, 2023. Read more

• Pakistan’s weight in MSCI FM100 Index increases by 34bps to 2.93%

Pakistan’s weight in Morgan Stanley Capital International (MSCI) FM100 Index will be increased by 34bps to 2.93% from 2.59%, MSCI August quarterly review revealed on Friday which will be effective as of the close of 31 August 2023. Read more

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Posted on: 2023-08-28T07:14:33+05:00