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PKR’s Real Effective Exchange Rate Index decreases by 4.3...

Aug 05, 2020 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) decreased by 4.3 percent in June 2020 to a provisional value of 93.02 from the revised value of 97.20 in May 2020.

According to data published by the State Bank of Pakistan (SBP), the REER index has increased by 2.24 percent compared to June 2019.

Similarly the Nominal Effective Exchange rate Index (NEER) decreased by 4.4 percent in June to a provisional value of 59.77 from the revised value of 62.52 in May. On a yearly basis, the NEER Index has decreased by 4.96 percent.

PKR closed June at 168.0506 against the USD showing a depreciation of 3.03 percent compared to its value in May 2020. However, Compared to June 2019 PKR has depreciated by by 5 percent.

REER is a measure of the value of a currency against a weighted average of several foreign currencies, a decrease in REER implies that exports have become cheaper while imports become more expensive therefore, this decrease indicates an increase in trade competitiveness.


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PMEX Commodity Index gains 67 points

August 05, 2020: On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed with a gain of 67 points at 4,898-level. The traded value of Metals, Energy, and COTS/FX was recorded at PKR 11.150 billion and the number of lots traded was 17,618.

The major business was contributed by Gold amounting to PKR 6.549 billion, followed by Silver (PKR 1.615 billion), NSDQ 100 (PKR 897.264 million), Platinum (PKR 884.459 million), Currencies through COTS (PKR 474.325 million), Crude Oil (PKR 261.487 million), DJ (PKR 222.773 million), Natural Gas (PKR 184.323 million), SP500 (PKR 38.010 million) and Copper (PKR 23.302 million).

In agriculture commodities, one lot of Corn amounting to PKR 2.694 million was traded.

Press Release

Closing Bell: Boomerang!

August 5, 2020 (MNL): The KSE-100 index made a strong comeback after delivering a dud yesterday, as it gained around 305 points to close the session at 39,882-mark. It is to be noted that the index is just a few points away from crossing the 40,000-level.

The trading activity was boosted by favorable economic data released in the past few days, especially that of international trade. According to the Pakistan Bureau of Statistics (PBS), the country’s exports during the month of July increased by 25.08 percent to USD 2 billion, as compared to USD 1.599 billion in June 2020. On the contrary, imports in July 2020 decreased by 2.12 percent, clocking in at USD 3.64 billion compared to USD 3.719 billion in June 2020.

Besides this, the market was lifted by the announcements made by several companies throughout the session, some of which include the Medium Term Note (MTN) Program of up to PKR 50 billion by Bank Alfalah Limited, and the approved expansion/diversification plans of subsidiaries by Ghani Global Holdings.

According to the coverage by Aba Ali Habib Securities, the news of an increase in cement dispatches also supported the index to remain largely in the green zone.

The Index traded in a range of 508.98 points or 1.29 percent of previous close, showing an intraday high of 39,935.90 and a low of 39,426.92.

Of the 95 traded companies in the KSE100 Index 64 closed up 30 closed down, while 1 remained unchanged. Total volume traded for the index was 296.17 million shares.

Sectors propping up the index were Cement with 165 points, Oil & Gas Exploration Companies with 55 points, Technology & Communication with 37 points, Textile Composite with 22 points and Oil & Gas Marketing Companies with 17 points.

The most points added to the index was by LUCK which contributed 49 points followed by TRG with 37 points, DGKC with 28 points, MLCF with 25 points and CHCC with 22 points.

Sector wise, the index was let down by Fertilizer with 23 points, Commercial Banks with 21 points, Tobacco with 14 points, Sugar & Allied Industries with 2 points and Inv. Banks / Inv. Cos. / Securities Cos. with 2 points.

The most points taken off the index was by UBL which stripped the index of 17 points followed by ENGRO with 16 points, PAKT with 14 points, BAHL with 14 points and FFC with 13 points.

All Share Volume decreased by 92.04 Million to 501.95 Million Shares. Market Cap increased by Rs.41.78 Billion.

Total companies traded were 405 compared to 422 from the previous session. Of the scrips traded 248 closed up, 139 closed down while 18 remained unchanged.

Total trades decreased by 36,742 to 164,171.

Value Traded decreased by 4.26 Billion to Rs.22.29 Billion


Top Ten by Volume

Maple Leaf Cement Factory38,479,500
Power Cement37,475,500
TRG Pakistan34,578,000
Fauji Foods32,917,000
Hascol Petroleum26,968,500
D.G. Khan Cement Company21,413,500
Pak Elektron20,275,500
The Bank of Punjab19,848,000
Aisha Steel Mills16,827,000
Fauji Cement Company15,916,000



Top Sector by Volume

Technology & Communication62,914,100
Food & Personal Care Products47,495,570
Commercial Banks37,811,142
Oil & Gas Marketing Companies32,600,237
Cable & Electrical Goods21,137,800
Power Generation & Distribution17,499,724
Inv. Banks / Inv. Cos. / Securities Cos.16,912,400



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Gold reaches a new high of $2,041 an ounce

August 5, 2020 (MLN): Gold prices jumped to a new high on Wednesday, pushing further past the $2,000 an ounce amid weaker US dollar, falling Treasury bond yields and expectations of more stimulus package for the pandemic-devastated global economy. 

Gold has rallied on an account of high uncertainty about the long-term effects of the global health crisis. In international market, gold prices climbed to a record high of $2,041 per ounce as US bonds yields hit new lows. Gold prices have surged more than 33 percent this year. Likewise, the other precious metal, silver, surged to $26.80 per ounce. 

On the domestic front, Gold prices scaled a new high of Rs 128,700 per tola, up by Rs 4,800 in line with the global rally. The valuable yellow metal had closed at Rs 123,900 per tola on the previous day. 

The price of 10-gram gold also resumed its ascent and settled at Rs 110,340 against the previous close of Rs 106,224 per 10-gram.

The white precious metal rebounded today in the domestic market after a stable previous session. The 24 Karat- Silver gained by Rs 130 to clock in at Rs 1,630 per tola.  Moreover, 10-gram silver witnessed an increase of Rs 111.46 to close at Rs 1,397.46, as per the Karachi Sarafa Association.

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FBR clarifies report about reform process

Aug 05, 2020: The Federal Board of Revenue (FBR) on Wednesday rebutted a news item appearing in a section of press about a meeting of FBR officers with the prime minister relating to the FBR reforms, terming its baseless.

No such meeting with the prime minister took place, rather a consultative meeting of the FBR officers was held with the officers concerned of the PM Office on the proposed FBR reforms, an FBR press release clarified.

"The FBR officers have not refused to accept the proposed reform structure of FBR as indicated in the news story rather consultative meetings are being held regularly to bring further improvement in the reform structure of FBR and the meeting with the officers of PM Office was a part of that consultative process," it added.


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