February 10, 2020 (MLN): The KSE-100 index has lost around 466 points in the initial hours of the session and is currently trading at 39,677 points.
It may be pertinent to mention that this is the first time since December 12, 2019, that the index has slipped beneath 40,000 mark.
So far, the Cement Sector (-57 pts) has snatched the maximum points from the index, followed by Oil and Marketing Companies (-56 pts).
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February 25, 2020 (MLN): The Banking sector spread for January 2020 mitigated by 37 basis points (bps) over the month which brings its latest value to 5.70% as compared to prior month's spread of 6.07%. On the other hand, the spread has dilated by 28 bps as compared to the same period last year.
According to the State Bank of Pakistan's monthly data released on Weighted Average Lending & Deposit Rates, the lending rate for all banks (inclusive of zero markup) mitigated by 7 bps as it stood at 12.65%. Meanwhile, the deposit rate expanded by 30 bps over month, thus bringing the latest rate to 6.95%.
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Feb 25, 2020: Alternative Energy Development Board (AEDB) Tuesday arranged 4th progress review meeting on net metering.
The meeting was chaired by AEDB Chief Executive Officer (CEO) Dr Rana Abdul Jabbar Khan, said a press release, NEPRA, DISCOs, GIZ, USAID and AEDB certified vendors/ installers/ service providers attended the meeting and reviewed the progress of net metering in Pakistan.
The AEDB certified vendors/ installers / service providers who attended the said meeting were included JD Aviation Sourcing and Engineering Services, ATS Engineering Sales and Services, Creative Electronics (Private) Limited, K K B (Kaim Khani & Brothers), Maxell Power (Private) Limited, Technology Links (Pvt) Ltd, E-Cube Solutions (Pvt) Ltd, MULTILINE Engineering Co, Siddiq Renewable Energy (Pvt) Ltd, Instant Energy (Pvt) Ltd, Venture Universal Trade (Private) Limited, Zi Solar (Private) Limited, Orient Energy Systems (Private) Limited, Solis Energy Solutions (Private) Limited, Tesla Industries (Private) Limited, REON Energy Limited, Zero Carbon (Private) Limited and M/s National Radio and Telecommunication.
APP
February 25, 2020 (MLN): The upsurge of coronavirus continued triggering a fall in global stocks. Taking inspiration from the previous trading session, the KSE-100 lost 285 points or a decrease of 0.73% on Tuesday and concluded the session at 38,858-level.
The stocks continued its downward path due to inconclusive IMF review and warnings from FATF to authorities to take stern actions for significant progress, as per research note of IMS.
The Index traded in a range of 555.83 points or 1.42 per cent of the previous close, showing an intraday high of 39,249.56 and a low of 38,693.73.
Of the 93 traded companies in the KSE100 Index, 39 closed up 52 closed down, while 2 remained unchanged. Total volume traded for the index was 94.48 million shares.
Sector-wise, the index was let down by Commercial Banks with 116 points, Oil & Gas Exploration Companies with 81 points, Fertilizer with 47 points, Tobacco with 34 points and Power Generation & Distribution with 28 points.
The most points taken off the index was by UBL which stripped the index of 54 points followed by PPL with 52 points, ENGRO with 49 points, HBL with 42 points and MCB with 36 points.
Sectors propping up the index were Cement with 25 points, Inv. Banks / Inv. Cos. / Securities Cos. with 5 points, Engineering with 5 points, Insurance with 4 points and Oil & Gas Marketing Companies with 3 points.
The most points added to the index was by MEBL which contributed 20 points followed by NBP with 13 points, EFERT with 12 points, KOHC with 7 points and MARI with 7 points.
All Share Volume decreased by 19.93 Million to 124.35 Million Shares. Market Cap decreased by Rs.61.91 Billion.
Total companies traded were 336 compared to 345 from the previous session. Of the scrips traded 159 closed up, 162 closed down while 15 remained unchanged.
Total trades increased by 234 to 59,873.
Value Traded increased by 0.45 Billion to Rs.5.96 Billion
| Company | Volume |
|---|---|
| Unity Foods | 10,025,000 |
| The Bank of Punjab | 9,156,500 |
| Hascol Petroleum | 8,651,500 |
| K-Electric | 6,862,000 |
| Maple Leaf Cement Factory | 6,611,000 |
| TRG Pakistan | 5,585,500 |
| D.G. Khan Cement Company | 5,170,500 |
| Fauji Foods | 3,253,500 |
| Worldcall Telecom | 3,071,500 |
| Oil & Gas Development Company | 2,958,100 |
| Sector | Volume |
|---|---|
| Cement | 17,732,300 |
| Commercial Banks | 17,571,100 |
| Technology & Communication | 12,429,500 |
| Oil & Gas Marketing Companies | 11,887,600 |
| Power Generation & Distribution | 10,227,500 |
| Vanaspati & Allied Industries | 10,025,000 |
| Food & Personal Care Products | 5,776,220 |
| Chemical | 5,375,020 |
| Oil & Gas Exploration Companies | 5,252,680 |
| Fertilizer | 3,947,200 |
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February 25, 2020: The Cabinet Committee on Privatization (CCOP) was briefed here Tuesday that the privatization process of SME Bank Limited and Pak Reinsurance Co. Ltd (up to 20% divestment) was moving ahead in a relatively faster manner and was expected to be completed in the required time frame.
The CCOP meeting, which was chaired by Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh, was given an update on the privatization program, according to press statement issued by the Ministry.
On the revival status of Pakistan Steel Mills, the committee directed the Privatization Commission to complete all the standard requirements in a regular but expeditious manner, the statement said and directed it to keep on updating the government on any issues that might surface during the smooth running of the process.
On the proposal of the Privatization of the Guddu Power Plant (747 MW), the Ministry of Privatization informed the committee that it had received EoIs from Financial Advisers and parties had been shortlisted for issuance of request for proposals.
Other issues related to the transaction were also discussed and the CCOP directed that there was a need for further discussion on the project between NEPRA, Power Division and Ministries of Finance and Privatization.
They were directed to come up with a joint proposal in the next meeting of CCOP for moving ahead in the transaction so that it might complete within the given time frame.
For divesting shares of OGDCL, CCOP directed that the matter required further deliberation.
The committee directed that all the relevant stakeholders including the Ministry of Energy to come up with a presentation on the proposal in the next meeting.
The Chair directed that all the processes related to the privatization process may be carried out in a transparent but expeditious manner so that all the targets are achieved within the given time frame.
APP
February 25, 2020 (MLN): Pakistani rupee (PKR) depreciated by 4 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 154.26 per USD, against yesterday's closing of PKR 154.21 per USD.
The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 9 paisa per USD showing an intraday high bid of 154.28 and an intraday Low offer of 154.22.
Within the Open Market, PKR was traded at 154.10/154.60 per USD.
Meanwhile, the currency lost 92 paisa to the Pound Sterling as the day's closing quote stood at PKR 200.19 per GBP, while the previous session closed at PKR 199.28 per GBP.
Similarly, PKR's value weakened by 44 paisa against EUR which closed at PKR 167.49 at the interbank today.
On another note, within the money market, the overnight repo rate towards close of the session was 13.15/13.25 percent, whereas the 1 week rate was 13.20/13.30 percent.
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