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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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November 30, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has extended the term for the deposit of $3 billion maturing on December 05, 2023 for another one year. Read more

The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs1.165 trillion for 3,6 and 12 months against a target of Rs900bn. Read more

The Pakistani rupee (PKR) appreciated by around 14 paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 285.39per USD. Read more

The benchmark KSE-100 Index showed some correction today after seven straight sessions of gains, concluding Wednesday's trading session at 60,502 showing a decrease of 228.27 points or 0.38%. Read more

The Pakistan stock market's rally has been fueled by the return of foreign investors' confidence, with overseas traders injecting the highest in Pakistani stocks in four years, worth $26.29 million in November thus far. Read more

The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Pakistan Investment Bond – Floating Rate (PIB-PFL) semiannual and quarterly worth Rs820.85 billion for 2, 3, 5 and 10 years against a target of Rs280bn. Read more

Domestic bullion recorded significant gains on Wednesday as the price of 24-karat gold surged by Rs2,600 per tola to Rs221,000 per tola. Read more

Crescent Steel & Allied Products Limited (PSX: CSAP) has been awarded an additional quantity in its existing contract of 84” and 68” coated steel line pipes API 5L X42M PSL 2 with China Harbour Engineering Company Limited for manufacturing and coating of pipes. Read more

The Board of Directors (BoD) of TPL Life Insurance Limited (TPL Life) has approved the merger of the entire business and undertaking of TPL Life with and into Dar Es Salam Textile Mills Limited (PSX: DSML. Read more

The Board of Directors (BoD) of Avanceon Limited (PSX: AVN) has approved the sale/transfer/dispose of the entire shareholding in its wholly owned subsidiary Empiric AI (Private) Limited (EPL) to Octopus Digital Limited (PSX: OCTOPUS. Read more

A Financial Services Agreement (FASA) was signed on Wednesday between the Privatization Commission and the Financial Advisor for divestment of Pakistan International Airlines Corporation (PIACL). Read more

The government is targeting to raise Rs150 billion during the next three months (November-January) of FY24, through the auction of GOP Ijara Sukuk (GIS). Read more

FrieslandCampina Engro (PSX: FCEPL) still has the potential for further upside as the company maintained volumes despite aggressive price hikes. Read more

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Posted on: 2023-11-30T07:22:55+05:00