MG Morning Breeze: Updates to Skim before Market

December 27, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• CPI Preview: Inflation to soar past 30% in December

December’s inflation is expected to surge above the 30% mark, as the impact of the recent gas price hike and the unfavourable base effect continue to weigh on the consumer price index (CPI).  Read more

• PKR continues to rise, adds 16 paisa against USD

The Pakistani rupee (PKR) appreciated by 15.82 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 282.37 per USD, compared to the previous session's closing of PKR 282.53 per USD. Read more

• PSX Closing Bell: House Always Wins

The benchmark KSE-100 index wiped out 2,534 points or 4.11% to close at 59,171 on Tuesday, marking the largest single-day drop in absolute terms (points) ever recorded. Read more

• Gold price inches up by Rs300 per tola

The 24-karat gold price in Pakistan on Tuesday increased by Rs300 per tola to Rs219,600. Read more

• TPL REIT Fund I to be listed on PSX

The Board of Directors (BoD) of TPL REIT Management Company Limited (TPL RMC) has accorded its approval for the listing of TPL REIT Fund I on the Pakistan Stock Exchange Limited (PSX). Read more

• Habib Sugar Mills to buy back 15m shares

The Board of Directors (BoD) of Habib Sugar Mills Limited (PSX: HABSM) has approved and decided to recommend the purchase/ buy-back of up to 15 million issued ordinary shares of the face value of Rs5 each. Read more

• MTS unavailable on December 28: NCCPL

The Margin Trading System (MTS) will not be available on December 28, 2023, however, the MTS Release session shall remain available on the said date. Read more

• Banking sector spread decreases by 9bps MoM in November

The banking sector spread for the month of November 2023 has decreased by 9 basis points (bps) MoM to 7.63% as compared to a spread of 7.72% in October 2023. Read more

• High Court gives green light to AEL-SIL merger, share allocation

The Lahore High Court has approved the scheme of restructuring/arrangement for the merger of AEL Textile Limited (PSX: AEL) with and into Stylers International Limited (SIL). Read more

• IPO joins hands with PITB for digital transformation

The Intellectual Property Organization (IPO) and Punjab Information Technology Board (PITB) on Tuesday joined hands and signed a Memorandum of Understanding (MoU) for the digitalization and automation of IPO- Pakistan. Read more

• Higher shipping freight rates to offset costs of re-routing from Suez

Re-routing ships around Africa and away from the Suez Canal following attacks on commercial vessels in the Red Sea adds costs for shipping companies. Read more

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