MG Morning Breeze: Updates to Skim before Market

November 13, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PKR sheds 2.72 rupees against USD in a week

The Pakistani rupee (PKR) depreciated by 2.178 rupees against the US dollar this week and settled at PKR 287.03. Read more

• Pakistan’s external debt, liabilities reach $128bn

Pakistan’s external debt and liabilities (outstanding) reached $128.09 billion at the end of 1QFY24, an increase of $3.498bn or 2.81% QoQ. Read more

• Overbought KSE-100: A False Alarm or a Warning Signal?

The benchmark KSE-100 index 14-day relative strength index (RSI) has breached the 90 level for the first time since March 2005. Read more

• 24-Karat gold price plunges by Rs3,600 per tola in a week

Domestic bullion witnessed a major setback this week as the price of 24-karat gold declined by Rs3,600 per tola and settled at Rs211,000. Read more

• SECP reduces IPO approval time to 14 days

The SECP has notified a maximum period of 14 working days for granting of regulatory approvals to a listing application and prospectus Read more

• Remittances (finally) grow 10% YoY in October

Greenback is a rare commodity in Pakistan for people and the government. Thus when tough actions – administrative controls over informal means of buying USD and sending them out of Pakistan – bring fruits with the support of sticknomics, jubilations are warranted. Read more

• PSX Closing Bell: Hit For Six

The benchmark KSE-100 index surged by a whopping 1,129.94 points or 2.08% DoD to close the last session of the week at another record high of 55,391.37. Read more

• ECC approves tariff adjustment for K-Electric consumers for 1QFY24

The ECC in its meeting held on Friday approved tariff rationalization for K-Electric consumers in line with the uniform Quarterly Tariff Adjustment guidelines (QTA) issued to NEPRA, applicable to consumption in 1QFY24. Read more

• Weekly inflation increases by 0.73%

The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.73% WoW during the week ended November 08, 2023.Read more

• SAZEW sells 1,004 auto rickshaws in October

Sazgar Engineering Works Limited (SAZEW) sold 1,004 units of Auto Rickshaw during October 2023, which was 2.14% MoM lower than the sales of 1,026 units made in the previous month. Read more

• KIA offers interest-free installment plan for its cars

Lucky Motor Corporation Limited (KIA) is offering an easy and interest-free installment plan for its cars. Read more

• Key Pakistan Market Stats and Economic Indicators

Market Data and Economic Indicators. Read more

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