The State Bank of Pakistan released the Bid Pattern for its PIB Auction. Auction Target is Rs.50 Billion.
The SBP received bids worth Rs.13.05 Billion out of which Rs.9.30 Billion was for 3 Years and Rs.3.75 Billion for 5 Years. No bids were made for the 10 and 20 year PIBs
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July 3, 2020 (MLN): Domestic equities remained range-bound today, after dithering between red and green zone, ultimately fell into bull’s territory with a gain of just 73 points and closed the week at 35,051 points mark. This was 0.2% higher compared to yesterday’s closing.
Over the week, KSE-100 index gained 1,111 points, translating into a WoW increase of 3.3%, despite the terrorist attack at Pakistan Stock Exchange building.
Potential triggers of this optimism were likely clarity over foreign exchange reserve buffer, muted political noise, and smooth approval of federal budget without much resistance, a report by BMA capital mentioned.
Speaking of today’s session, the Index traded in a range of 186.84 points or 0.53 percent of previous close, showing an intraday high of 35,105.16 and a low of 34,918.32.
Of the 90 traded companies in the KSE100 Index 42 closed up 44 closed down, while 4 remained unchanged. Total volume traded for the index was 108.99 million shares.
Sectors propping up the index were Pharmaceuticals with 34 points, Commercial Banks with 32 points, Fertilizer with 28 points, Technology & Communication with 16 points and Insurance with 7 points.
The most points added to the index was by FFC which contributed 24 points followed by SEARL with 23 points, TRG with 21 points, UBL with 21 points and BAFL with 15 points.
Sector wise, the index was let down by Cement with 33 points, Power Generation & Distribution with 13 points, Oil & Gas Marketing Companies with 13 points, Chemical with 2 points and Sugar & Allied Industries with 2 points.
The most points taken off the index was by LUCK which stripped the index of 16 points followed by HUBC with 12 points, OGDC with 9 points, MCB with 8 points and PSO with 7 points.
All Share Volume decreased by 207.32 Million to 175.76 Million Shares. Market Cap increased by Rs.10.43 Billion.
Total companies traded were 346 compared to 381 from the previous session. Of the scrips traded 155 closed up, 172 closed down while 19 remained unchanged.
Total trades decreased by 54,527 to 67,947.
Value Traded decreased by 5.76 Billion to Rs.6.74 Billion
| Company | Volume |
|---|---|
| TRG Pakistan | 23,306,000 |
| Jahangir Siddiqui & Co. Ltd. | 12,745,000 |
| Hum Network | 9,117,500 |
| Worldcall Telecom | 8,769,500 |
| Pakistan Telecommunication Company Ltd | 8,320,000 |
| Unity Foods | 8,058,500 |
| Maple Leaf Cement Factory | 7,598,000 |
| K-Electric | 7,531,500 |
| The Searle Company | 6,261,400 |
| Pak Elektron | 5,204,500 |
| Sector | Volume |
|---|---|
| Technology & Communication | 51,784,600 |
| Inv. Banks / Inv. Cos. / Securities Cos. | 14,822,900 |
| Cement | 13,871,230 |
| Commercial Banks | 13,113,855 |
| Power Generation & Distribution | 9,606,710 |
| Pharmaceuticals | 9,256,050 |
| Vanaspati & Allied Industries | 8,068,100 |
| Food & Personal Care Products | 7,975,500 |
| Chemical | 7,120,680 |
| Engineering | 6,351,700 |
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July 03, 2020 (MLN): Today, gold witnessed an increase in demand as the price of 24 Karat-Gold rose by Rs 200 to Rs 104,800 per tola in the local market. The valuable yellow metal had closed at Rs 104,600 per tola on the previous trading day.
According to the Karachi Sarafa Association, the price of 10-gram gold also increased by Rs 172 to settle at Rs 89,850 against Rs 89,678 on the last trading day.
On the other hand, the silver prices remained flat at Rs 1,050 per tola. Similarly, 10-gram silver stayed stagnant at Rs 900.20.
In the international market, gold prices inched up by only $1 to $1,775 per ounce while silver was pegged at $18 per ounce.
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July 03, 2020 (MLN): The Economic Coordination Committee (ECC) in its meeting held on Friday under the Chairmanship of Abdul Hafeez Shaikh, took up a proposal for policy guidelines with respect to sale price of RLNG.
The ECC was told that given the ring-fenced nature of RLNG and indigenous gas pricing, the sale of RLNG to domestic gas consumers at weighted average domestic tariff/gas sale price on M/s SNGPL network had resulted into accumulative tariff differential/RLNG revenue shortfall of Rs 73.84 billion for the period July-2018 to April 2020. The ECC was further told that this revenue shortfall had occurred after adjustment of RLNG impact on cost neutral basis as per the policy whereby the SNGPL sold indigenous gas as RLNG to its consumers and recovered some of the revenue shortfalls whenever the surplus system gas became available.
The ECC was also briefed that the issue of RLNG revenue shortfall had arisen mainly because of the price differential in domestic gas as 91 per cent of the domestic gas consumers had been paying an average monthly bill of Rs 121 which was many times less than the price of imported RLNG supplied to domestic consumers in the winter months.
The ECC considered the proposal and asked the OGRA to review it, especially the RLNG revenue shortfall as worked out by the SNGPL, and report back to ECC. The ECC also decided to further discuss the issue in a small group in order to develop a consensus-based solution to the issue for a policy decision at the government level to avoid the creation of a circular debt situation in the RLNG sector.
ECC also approved Rs 29.72 billion to provide cash assistance of Rs 12,000 per beneficiary to 3.725 million applicants irrespective of provincial, regional and district quota under the Ehsas Emergency Cash Programme.
Dr. Abdu Hafeez Shaikh allowed the BISP to spend Rs 29.72 billion from its allocated budget of Rs 200 billion for 2020-21 for providing cash transfers to 3.72 million applicants with the instruction that any additional requirement for regular operations of BISP would be also provided during 2020-21.
The decision came after the Poverty Alleviation and Social Safety Division told the ECC that 3.151 million applicants who had applied for assistance through the SMS, were found eligible under the approved criteria but these applicants could not be provided assistance on account of provincial/district quotas.
The ECC was told that the Punjab government had already agreed to provide assistance to 700,000 of the applicants identified through SMS, leaving 2.451 million eligible applicants who could be provided cash assistance @12,000 (Rs 3000 for four months) at a total cost of Rs 29.72 billion.
The ECC also took up and approved a proposal by the Ministry of Information Technology and Telecommunication for NTC’s Budget for the FY 2020-21 (Budget Estimate Revenue Rs 4.59 billion, operating cost Rs 4.38 billion and ADP Rs 1.23 billion) and NTC Budget for FY 2019-20 (Revised Estimates Revenue Rs 3.95 billion, operating cost Rs 3.93 billion and ADP Rs 1.08 billion).
July 03, 2020 (MLN): The Board of Directors of MCB-Arif Habib Savings and Investments Limited, i.e. the Management Company of Pakistan Capital Market Fund, has approved a dividend payout of up to Rs. 0.4533 per unit to its unit holders.
For the Alhamra Islamic Asset Allocation Fund, the Board approved a dividend payout of up to Rs. 0.825 per unit to the unit holders whose names appeared in the register of unit holders at the close of June 29, 2020.
Similarly, for the Alhamra Islamic Stock Fund, a dividend payout of Rs. 0.1168 was announced by the Board.
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