November 27, 2020 (MLN): The State Bank of Pakistan (SBP) conducted an Open Market Operation on Friday in which it injected Rs.758.50 Billion into the market for 7 Days.
| Amount* | Rate | Bids | |||||
|---|---|---|---|---|---|---|---|
| Tenor | Type | Offered | Accepted | High – Low | Accepted | Offered | Accepted |
| 7D | Reverse Repo (Injection) | 759.500 | 758.500 | 7.08 – 7.01 | 7.03 | 21 | 20 |
| OMO Settlement: same day November 27, 2020 | |||||||
| *Amount in Billions | |||||||
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January 28, 2021 (MLN): Gold prices extended their decline today due to stronger dollar, as the price of gold in the international market dipped further by USD 4 and traded at USD 1,842 per ounce against USD 1,846 per ounce recorded yesterday, while silver was valued at 25.30 an ounce.
Similarly, in the domestic bullion market, the price of 24 karat gold declined by Rs 50 to Rs 112,950 per tola against the price of Rs.113,000 per tola reported in the previous session.
According to the data provided by the All Sindh Saraf Jewellers Association, the price of 10-gram of 24k gold also slid by Rs 44 and was sold for Rs 96,836 at the closing of trade as opposed to Rs 96,880 reported yesterday.
On the other hand, the price of silver tola and 10 grams of silver witnessed an increase of Rs 20 and Rs 17.11 to sold at Rs 1,320 and Rs 1,131.68 respectively, the association reported.
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January 28, 2021 (MLN): Pakistan's Forex Reserves decreased by USD 13.80 Million or 0.07% and the total liquid foreign reserves held by the country stood at USD 20,106.50 Million on Jan 22, 2021.
According to data published by the State Bank of Pakistan (SBP) its reserves decreased by USD 15.40 Million .
| Foreign reserves held by | Jan 22, 2021 | Jan 15, 2021 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 12,998.40 | 13,013.80 | -15.40 | -0.12% |
| Net Foreign Reserves Held by Banks | 7,108.10 | 7,106.50 | 1.60 | 0.02% |
| Total Liquid Foreign Reserves | 20,106.50 | 20,120.30 | -13.80 | -0.07% |
Amount in USD Million
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January 28, 2021: In a very encouraging development for the debt market of Pakistan, an innovative, new debt instrument has been issued and listed on the Pakistan Stock Exchange (PSX) by Bank Alfalah (BAFL). Bank Alfalah has issued a Medium Term Note in the form of Term Finance Certificates (Tranche Series-A) of PKR 11,000 million through the Shelf Registration Program, which have been listed on the Exchange as of today, January 28, 2021.
A Gong Ceremony was held at Pakistan Stock Exchange to mark the listing of the instrument. The gong was struck by the CEO of Bank Alfalah, Mr. Atif Bajwa, amidst the presence of the Members of the PSX Board, the MD & CEO of PSX, Mr. Farrukh H. Khan, and senior management of PSX, SECP and BAFL. Also present at the occasion were the senior management and representatives of Arif Habib Limited & Alfalah CLSA Securities, Joint Lead Managers & Arrangers to the Issue.
In his opening remarks, Mr. Farrukh Khan, the MD & CEO of PSX said, “It is indeed a very welcome and positive development for the debt market of Pakistan that Bank Alfalah has issued & listed its Tranche Series-A TFCs of Rs 11 Bn on the Exchange. Bank Alfalah has always been innovative whereby for the first time a shelf prospectus against the issuance of Rs 50 Bn TFCs has been approved. Bank Alfalah has a presence in both the brokerage and asset management industries and has recently become the first Market Maker of debt securities as well. I am very pleased that they are making their mark yet again on PSX through this innovative debt instrument, which will help provide depth and dynamism to the debt sector of the capital market of Pakistan”.
On this occasion, the CEO of Bank Alfalah, Mr. Atif Bajwa, stated, “Bank Alfalah would like to thank SECP and PSX for their continued efforts in promoting the capital markets of Pakistan. Our debt capital markets are still at a nascent stage and we appreciate the efforts of all the stakeholders to develop this market based on global best practices. Sharing the same vision, we at Bank Alfalah believe that an efficient and well-developed debt market will open up additional avenues for corporates and investors for sources of funding and investments respectively”.
Speaking on the occasion, Mr. Arif Habib, Chairman - Arif Habib Group, stated, “I congratulate Bank Alfalah on the successful issuance of their Medium-Term Note. I also congratulate the SECP and Pakistan Stock Exchange for successfully facilitating issuers. There was a time when we, as Consultants, would approach the SECP or the Stock Exchange for the facilitation of a new issue but, since the last two years, we have not felt the need to make the first call for new issuances. The SECP and the Stock Exchange would already be standing with us to facilitate issuers on the equity and debt sectors of the capital market”.
Congratulating Bank Alfalah on the successful issuance of their new debt instrument, Mr. Sulaiman Mehdi, Chairman of the PSX Board, stated, “It is a proud moment for our capital market that the first tranche of Rs 11 Bn of the debt issued by Bank Alfalah has already been oversubscribed. Bank Alfalah was also the first bank to be the Market Maker in Pakistan. It surely reflects upon their commitment to Pakistan’s debt market and their innovative thinking”. He further stated, “It is for the first time that we are seeing such close coordination between State Bank, SECP, PSX, and the entire financial industry; all are working towards reforms and development of the capital market. I congratulate not only Bank Alfalah but also all the market participants and stakeholders who worked in tandem to bring about this innovative product on the debt market successfully”.
In his congratulatory note, Chairman, SECP, Mr. Aamir Khan, stated, “The launch of the first Medium Term Note Program has come about mostly due to the visionary leadership at Bank Alfalah but it is also heartening to see the combined efforts by all stakeholders in this regard. This issue is a very good omen for the future of debt capital market of Pakistan as recent changes in National Savings Schemes to restrict institutional investors have left the field wide open”. He further stated, “A well-developed corporate bond market is essential for the growth of the economy and currently the size of listed corporate debt market in Pakistan stands at less than 1% of GDP. It is in this backdrop, that Bank Alfalah’s MTN will encourage other market participants to tap the capital markets for their liquidity needs and foster competition in the market”.
In his remarks on the new debt issued by Bank Alfalah, Mr. Shauzab Ali, Commissioner SECP, stated, “While looking at the new debt instrument issued by Bank Alfalah and their record in developing the debt market, I am very happy to note that they have offered so much to the investors and have set high standards as role models for others to follow”.
Mr. Ali Sultan, Group Head - Global Treasury & Capital Markets at Bank Alfalah, added, “We have always strived for innovation and are proud that BAFL MTN is the first time in Pakistan that a shelf prospectus has been approved for issuance of TFCs. We are encouraged to continue with our efforts, given the strong response and oversubscription of the transaction which attracted a diverse investor base including Employee Funds, Foundations, Corporates and non-banking institutions”.
Press Release
January 28, 2021 (MLN): ICI Pakistan Limited (ICI), has secured the Board’s approval for an additional 10,000 TPA expansion of Light Soda Ash after finalization of negotiations with equipment and other suppliers. This will place the total capacity expansion at 135,000 TPA.
To note, on August 20, 2020, the Board of Directors of the Company had approved an expansion proposal of 125,000 tons per annum (TPA) of Light Soda Ash at its Khewra Plant.
This is yet another step towards the Company's growth aspirations by enhancing the total installed capacity of the Soda Ash Plant to 560,000 TPA, the company’s notice to Exchange revealed.
In addition to this, the Board of Directors has also approved a proposal for setting up of a unit at its Plant in Sheikhupura which will produce 100% PET Recycled chip for the manufacture of Recycled Polyester Staple Fibre for use in producing yarn for blended textiles in line with the need of customers to meet the global agenda on sustainability.
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January 28, 2021 (MLN): The KSE-100 index ended the trading session on Thursday with a 292.08 point or 0.63 percent decline to close at 46,166.05.
Despite many companies announcing growth in their earnings today, the benchmark index came under pressure from investors partaking in profit-taking.
According to Arif Habib Limited, one of the major highlights in today’s session was Silkbank, as it recorded a historic high volume of 355 million shares, i.e. the highest traded volume in a single stock since March 4, 2005. This was made possible after Silkbank informed PSX about Fauji Foundation’s intention to acquire a majority stake in it.
The Index traded in a range of 533.66 points or 1.15 percent of previous close, showing an intraday high of 46,646.72 and a low of 46,113.06.
Of the 95 traded companies in the KSE100 Index 29 closed up 65 closed down, while 1 remained unchanged. Total volume traded for the index was 296.48 million shares.
Sector wise, the index was let down by Technology & Communication with 90 points, Oil & Gas Exploration Companies with 67 points, Fertilizer with 56 points, Oil & Gas Marketing Companies with 41 points and Inv. Banks / Inv. Cos. / Securities Cos. with 36 points.
The most points taken off the index was by TRG which stripped the index of 61 points followed by FFC with 36 points, DAWH with 33 points, MCB with 29 points and SYS with 28 points.
Sectors propping up the index were Cement with 48 points, Engineering with 21 points, Power Generation & Distribution with 4 points, Leasing Companies with 1 points and Insurance with 1 points.
The most points added to the index was by LUCK which contributed 30 points followed by UBL with 21 points, HBL with 17 points, ISL with 15 points and AKBL with 10 points.
All Share Volume increased by 233.06 Million to 844.00 Million Shares. Market Cap decreased by Rs.25.09 Billion.
Total companies traded were 405 compared to 421 from the previous session. Of the scrips traded 152 closed up, 236 closed down while 17 remained unchanged.
Total trades decreased by 15,740 to 179,989.
Value Traded decreased by 2.77 Billion to Rs.26.23 Billion
| Company | Volume |
|---|---|
| Silkbank | 354,969,000 |
| K-Electric | 31,212,500 |
| TRG Pakistan | 27,774,000 |
| Aisha Steel Mills | 24,167,500 |
| Fauji Cement Company | 22,009,000 |
| Azgard Nine | 19,704,000 |
| Maple Leaf Cement Factory | 18,508,920 |
| Nimir Resins | 16,592,500 |
| Byco Petroleum Pakistan | 15,094,000 |
| Unity Foods | 14,802,177 |
| Sector | Volume |
|---|---|
| Commercial Banks | 386,045,840 |
| Technology & Communication | 69,675,100 |
| Cement | 66,775,596 |
| Engineering | 58,814,658 |
| Power Generation & Distribution | 46,015,306 |
| Refinery | 30,933,400 |
| Chemical | 28,095,770 |
| Textile Composite | 25,990,180 |
| Oil & Gas Marketing Companies | 18,253,899 |
| Fertilizer | 16,538,974 |
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