MG Morning Breeze: Updates to Skim before Market

December 05, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PKR gains 44 paisa against greenback

The Pakistani rupee (PKR) maintained its upward momentum by appreciating around 44 paisa against the US dollar in Monday's interbank session to settle at PKR 284.53, as compared to the previous day's closing of PKR 284.97 per USD. Read more

• PSX Closing Bell: Without Boundaries

The KSE-100 Index kicked off the week with strong bullish momentum, closing at another record high of 62,493.05 with a daily increase of 801.80 points or 1.3%. Read more

• Oil sales surge 9% MoM to 1.37 MTs in November

The sales of oil marketing companies (OMCs) rose by 9% MoM to clock in at 1.37 million tonnes (MTs) in November 2023 compared to 1.26 MTs in October 2023. Read more

• OGDC bids for exploration blocks

Oil and Gas Development Company Limited (PSX: OGDC) participated in the competitive bidding for exploration blocks held by the government on November 30, 2023.Read more

• Gold price in Pakistan holds steady at Rs223,600 per tola

Gold price in Pakistan remained stable on Monday, following a notable surge last week, wherein the price of 24-karat gold rose by Rs7,100 to Rs223,600 per tola. Read more

• Matco Foods launches new dextrose monohydrate plant

Matco Foods Limited (PSX: MFL) has successfully commissioned and commenced operations of its new Dextrose Monohydrate Plant with an annual capacity of 4,000 MT. Read more

• PSX introduces new ‘Appeal Procedures’ for listed companies

The Pakistan Stock Exchange (PSX) has introduced a new clause titled 'Appeal Procedures,' for listed companies to file appeals against enforcement orders. Read more

• Engro refutes rumours of shutting down operations in Pakistan

Engro Corporation Limited (PSX: ENGRO) has categorically rejected media claims regarding the company ceasing its operations in Pakistan. Read more

• VIS reaffirms entity ratings of Sui Northern Gas Pipelines

The VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Sui Northern Gas Pipelines Limited (PSX: SNGP) at ‘AA+’ for long-term and ‘A-1+’ for short term with a stable future outlook. Read more

• inDrive, Vlektra spearhead EV fleet integration in Pakistan

To introduce electric bikes into inDrive's fleet across Pakistan, the leading ride-hailing company has partnered with Vlektra, a pioneering electric vehicle (EV) manufacturer. Read more

• IT minister heads historic IT delegation to Qatar

Dr. Umar Saif, the Caretaker Federal Minister for IT and Telecommunication led the first-ever visit of an IT delegation from Pakistan to Qatar to explore the huge untapped potential in the region to increase Pakistan's IT exports. Read more

• Rising Stock Market – All May Not Be Good for Small Investors

By rising to a new zenith at the end of the trading session, PSX-100 is inscribing a history with the passing of every day. Read more

• Policy Rate Reversal: Sooner or Later!

After a cumulative raise of almost 4,000 bps in the policy rate by nine developed economies, markets worldwide are pricing an end to interest rate hikes. Read more

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