June 11, 2021 (MLN): The State Bank of Pakistan (SBP) announced that it will conduct a 7 day OMO to inject funds into the market.
Quotes timing is: 10:45 PST while result will be announced at: 11:15 PST
Settlement is same day – June 11, 2021
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August 3, 2021 (MLN): After losing its gaining momentum yesterday, the demand for yellow metal witnessed no movement and traded at $1,810 per ounce in the international market amid cautious behavior of investors while waiting for labor market data.
Correspondingly, gold rates in the domestic bullion market remained unchanged and the price of 24 karat per tola gold, 10-gram 24 karat and 10-gram 22 karat was stagnant at Rs110,600, Rs94,822, and Rs 86,920, respectively as per data provided by Karachi Sarafa and Jewellers Association.
Similarly, the price of 24-Karat silver per tola and 10-gram silver observed no change and traded at Rs1,460 and Rs1,251.71, respectively.
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August 3, 2021 (MLN): Despite ongoing PSDP projects and government’s policies to boost construction sector including Naya Pakistan Housing Scheme, the demand for cement has dented by 19.4% YoY in July 2021.
Total Cement despatches in July 2021 were stood at 3.899 million tons against 4.838 million tons the same month of last fiscal year.
This reduction in cement demand is primarily attributable to the Monsoon rains and the pause in construction activities due to Eid-ul-Azha.
Local sales in July 2021 have dropped to 3.45 million tons against 3.95 million tons despatched in July 2020, depicting a decline of 12.66% YoY.
Subsequently, the cement exports recorded a significant decrease of 49% YoY to 452,776 tons in July 2021 compared to 885,255 tons exported in July 2020.
Region-wise data unveiled that domestic cement despatches in the North during June 2021 shrank by 15.81 percent to 2.9 million tons from 3.43 million tons in July 2020. However, the Exports from the North region notably increased by 10.42 percent to 135,618 tons in July 2021 from 122,823 tons in July 2020.
In the South region, domestic cement despatches moved up by 7 percent to 554,442 tons during July 2021 from 517,850 tons in July 2020. Exports from the South, however, witnessed a substantial reduction by 58.4 percent to 317,159 tons in July 2021 from 762,432 tons in July 2020.
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August 3, 2021 (MLN): Following on from the strong upward trend seen yesterday, the domestic equity market maintained this momentum on Tuesday, thanks to positive economic data.
Investors’ sentiments remained buoyant today on an account of the approval by the IMF Board of governors for the USD650billion SDR allocation to boost global liquidity after which Pakistan central bank’s reserves are likely to increase by USD2.8bn by end of August.
Moreover, according to the market closing note by Topline Securities, investors also cheered an improvement in July’s trade deficit by USD590mn MoM that sustained the bull momentum throughout the day.
The KSE-100 Index closed the trading session at 47,758.32, up by 305.07 points or 0.64 percent. It hit an intraday high of 47,807.41.
Of the 96 traded companies in the KSE100 Index, 70 closed up 24 closed down, while 2 remained unchanged. The total volume traded for the index was 143.34 million shares.
Sectors propping up the index were Cement with 63 points, Technology & Communication with 63 points, Commercial Banks with 55 points, Oil & Gas Marketing Companies with 42 points and Refinery with 26 points.
The most points added to the index was by TRG which contributed 51 points followed by HBL with 24 points, MEBL with 21 points, MLCF with 19 points and POL with 17 points.
Sector-wise, the index was let down by Tobacco with 8 points, Fertilizer with 5 points, Miscellaneous with 4 points, Chemical with 3 points and Power Generation & Distribution with 2 points.
The most points taken off the index was by ENGRO which stripped the index of 10 points followed by OGDC with 10 points, HMB with 9 points, PAKT with 8 points and HUBC with 8 points.
All Share Volume increased by 190.87 Million to 443.21 Million Shares. Market Cap increased by Rs.48.27 Billion.
Total companies traded were 482 compared to 486 from the previous session. Of the scrips traded 335 closed up, 120 closed down while 27 remained unchanged.
Total trades increased by 55,007 to 155,960.
Value Traded increased by 6.94 Billion to Rs.16.20 Billion
Top Ten by Volume | |
|---|---|
Company | Volume |
Worldcall Telecom | 36,354,000 |
Telecard | 29,471,500 |
Byco Petroleum Pakistan | 29,391,500 |
TPL Corp | 22,176,500 |
Citi Pharma Ltd. | 16,016,000 |
Treet Corporation | 15,529,500 |
Ghani Global Glass | 13,403,000 |
Unity Foods | 11,572,700 |
Flying Cement Company | 11,072,500 |
Pace (Pakistan) | 8,944,500 |
Top Sector by Volume | |
|---|---|
Sector | Volume |
Technology & Communication | 117,674,149 |
Food & Personal Care Products | 42,467,980 |
Refinery | 38,590,221 |
Cement | 24,887,066 |
Miscellaneous | 24,518,400 |
Chemical | 21,310,470 |
Glass & Ceramics | 21,237,300 |
Oil & Gas Marketing Companies | 18,539,445 |
Pharmaceuticals | 17,011,889 |
Engineering | 15,800,552 |
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August 03, 2021 (MLN): Enduring the losing momentum, Pakistani rupee (PKR) slid by 22 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 163.89 per USD.
The local unit was closed at PKR 163.67 per USD in yesterday’s session.
The continuous depreciation in home currency is owing to the market dynamics despite SBP’s intervention to curb disorderly conditions. Moreover, the expansionary monetary and fiscal policies have stimulated the demand in the economy, as Ali Khizar, Economist said.
While explaining his point of view, he stated that lower car prices and subdued interest resulted in record sales of automobile during the month of July’21 which has further deteriorated the exchange rate.
Meanwhile, the flow of remittances has slowed down after Eid festivities which would create unrest while offsetting import bills, he added.
The rupee witnessed a mild activity in intraday trade as it was traded in a range of 1.00 rupees per USD showing an intraday high bid of 164.50 and an intraday Low offer of 163.60.
Within the Open Market, PKR was traded at 164/164.70 per USD.
According to data gathered by Mettis Global, the local unit has depreciated by 3.87% or PKR 6.34 in the fiscal year-to-date against USD. Similarly, the rupee has weakened by 2.48% or PKR 4.05 in CY21 with the month-to-date (MTD) position showing a decline of 0.89%.
Meanwhile, the currency lost 9 paisa to the Pound Sterling as the day's closing quote stood at PKR 227.98 per GBP, while the previous session closed at PKR 227.89 per GBP.
Similarly, PKR's value weakened by 16 paisa against EUR which closed at PKR 194.73 at the interbank today.
On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.155 billion for 3 days at 7.15 percent.
The overnight repo rate towards close of the session was 7.20/7.40 percent, whereas the 1 week rate was 7.10/7.15 percent.
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August 3, 2021 (MLN): The Oil and Gas Regulatory Authority (OGRA) on Tuesday has withdrawn a notification of August 2, 2021, that showed the country’s leading energy company Pakistan State Oil (PSO) has made the costliest purchase of liquefied natural gas (LNG) cargo at $20.055.
Earlier today, PSO clarified that the company has not awarded any cargo at a given price. The bid received against the required delivery of August 29 & 30, 2021 was high, resulting in a price that was not acceptable to PSO and the tender was scrapped on July 27, 2021. PSO has retendered for the same delivery period on July 29, 2021.
Shortly afterward, OGRA withdrew the notification from a day earlier stating: "As per routine monthly practice, estimated prices of RLNG are computed based on available data at the time of computation.
“Since the Prices are for the month in advance, many pricing components are calculated for determination of Prices on a Provisional basis based on available data at that time, which is later actualized by OGRA based on actual costs incurred,” it added.
However, the authority said that PSO informed it had scraped the cargo with offered price of 27.87% of the Brent, RLNG price notified on 2nd August is no more valid and August RLNG price notification is being withdrawn.
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