Tag: Human Resource Development
July 30, 2021 (MLN): Pakistan Stock Exchange (PSX) on Friday witnessed a volatile trading day with the benchmark index swinging between negative and positive territory in search of a clear direction before succumbing to the selling pressure in the second half of today’s trade.
Accordingly, the KSE-100 index concluded the day with a 257.04 point or 0.54 percent decline to close at 47,055.29.
The trading activity was knocked by the announcement of the Sindh govt to impose a strict lockdown in Karachi till August 8 in order to curb the surging infection ratio.
The Index traded in a range of 720.81 points or 1.52 percent of the previous close, showing an intraday high of 47,641.96 and a low of 46,921.15.
Of the 95 traded companies in the KSE100 Index, 33 closed up 60 closed down, while 2 remained unchanged. The total volume traded for the index was 156.53 million shares.
Sector-wise, the index was let down by Technology & Communication with 54 points, Fertilizer with 45 points, Cement with 35 points, Commercial Banks with 27 points and Textile Composite with 17 points.
The most points taken off the index was by TRG which stripped the index of 47 points followed by FFC with 44 points, HBL with 39 points, LUCK with 23 points and PPL with 17 points.
Sectors propping up the index were Inv. Banks / Inv. Cos. / Securities Cos. with 9 points, Engineering with 8 points, Chemical with 3 points, Insurance with 3 points and Paper & Board with 1 points.
The most points added to the index was by EFERT which contributed 12 points followed by MEBL with 11 points, PSX with 10 points, HMB with 9 points and SCBPL with 8 points.
All Share Volume increased by 22.65 Million to 399.09 Million Shares. Market Cap decreased by Rs.25.79 Billion.
Total companies traded were 407 compared to 405 from the previous session. Of the scrips traded 139 closed up, 252 closed down while 16 remained unchanged.
Total trades increased by 11,036 to 139,388.
Value Traded increased by 1.50 Billion to Rs.13.77 Billion
|Byco Petroleum Pakistan||38,439,000|
|Pakistan International Bulk Terminal||16,995,000|
|Technology & Communication||119,452,169|
|Food & Personal Care Products||37,295,876|
|Oil & Gas Marketing Companies||14,931,499|
|Inv. Banks / Inv. Cos. / Securities Cos.||13,508,856|
|Power Generation & Distribution||13,135,643|
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July 30, 2021 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.03% during the week ended Jul 29, 2021 while the SPI increased by 12.2% compared to the corresponding period from last year.
According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 150.7 compared to 150.65 on Jul 22, 2021 while the index was recorded at 134.31 a year ago, on Jul 29, 2020
Out of the 51 monitored items, the average price of 23 items increased, 6 items decreased whereas 22 items registered no change during the week.
The weekly SPI percentage change by income groups showed a mixed trend with SPI ranging between -0.09% and 0.15%.
The Lowest Income Group witnessed a weekly decrease of 0.02% while the highest income group recorded an increase of 0.15%.
On an yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 11.31% and 15.52%.
Yearly SPI for the Lowest Income Group increased by 15.52% while the highest income group recorded an increase of 11.73%.
The average price of Sona urea stood at Rs.1755 per 50 kg bag which is 0.57% higher than last week’s price and 6.95% higher when compared to last year.
Meanwhile, average Cement price was recorded at Rs.654 per 50 kg bag, which is 0.46% higher than the previous week and 17.41% higher than prices last year.
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July 30, 2021: Chairman Businessmen Group (BMG) and Former President Karachi Chamber of Commerce & Industry (KCCI) Zubair Motiwala, who attended the provincial coronavirus taskforce meeting at CM House on Friday, said, “We strongly opposed the lockdown strategy to deal with the pandemic as we believe that the only workable solution for minimizing the number of covid cases is to forcefully get the people vaccinated and ensure strict implementation of SOPs instead of imposing lockdown.”
“In this regard, we stressed that the government should carry out aggressive vaccination campaign and take assistance from Pakistan Army if needed in order to compel the masses to get vaccinated at the earliest”, he added while sharing the details of the meeting which was chaired by Chief Minister Sindh Syed Murad Ali Shah and also attended by Sindh Minister for Information Syed Nasir Hussain Shah, Sindh Minister for Industries and Commerce Jam Ikramullah Dharejo, Chief Secretary Sindh Syed Mumtaz Ali Shah, Senior Vice President KCCI Saqib Goodluck, IG Sindh, DG Rangers, politicians, representatives of business community and prominent doctors.
Zubair Motiwala mentioned that it was also evident from presentation given during the meeting that 428 people lost their lives in the month of July, of which only 46 were vaccinated and were of old age who were suffering from chronic diseases which was an ample proof that vaccine was the only weapon to defeat this pandemic
He informed that Chief Minister agreed that the delivery service of restaurants will continue while the export-oriented industries and all their allied industries would also continue to operate.
Chairman BMG stressed that the small traders and shopkeepers have been facing a lot of problems due to lockdowns and limited business hours and many businesses were at the verge of total collapse. Hence, the government should try its best to minimize the grievances being faced by these shopkeepers and also the public otherwise, the people, instead of dying due to diseases caused by coronavirus, would die themselves because of poverty, unemployment, mental stress, hunger or starvation.
He said, “These are challenging times and every member of the civil society is facing problems due to COVID crises. Perhaps, it is time when the government should think about extending monetary help to citizens especially the small shopkeepers who are now in net debt position and even paying rents to owners of their business premises has really become difficult.”
Senior Vice President KCCI M. Saqib Goodluck suggested at the meeting that the number of COVID-19 Vaccination Centers have to be enhanced all over the city and made operational at Union Council (UC) level so that the people could get vaccinated in a hassle -free environment as it has been observed that many people were reluctant to visit the existing overcrowded vaccination centers.
July 30, 2021 (MLN): The Board of Directors of JS Investments Limited has approved the merger of JS Value Fund (the merging scheme) with and into JS Growth Fund (the surviving scheme).
According to the notice issued to Exchange, the management company of the subject funds also approved this merger.
However, it is subject to the approvals by the unit holders of the schemes, Securities and Exchange Commission and other regulatory requirements.
The net assets of JS Value Fund (JS VF) will be transferred to JS Growth Fund (JS GF) on the effective date to be announced by the management company in due course. As a consideration, the unit holders of JS VF will be issued units of JS GF based on the swap ratio of the effective date of merger.
The management company believes that the merger will give the unit holders of surviving scheme to benefit from economies of scale due to lower expense ratio, resulting in fulfilling the investment objectives and policies more economically and efficiently.
As per the notice, the investment amount of all the unit holders will remain unaffected except for the impact of capital gain tax, where applicable. The units of the surviving scheme will be issued to the unit holders of the merging scheme (as a consideration) in accordance with the swap ratio to be determined on the basis of the net assets of each of the schemes on the effective date,
The management company in due course will be presenting the subject scheme of merger to seek approval of the respective unit holders of these schemes in their separately convened meetings.
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July 30, 2021 (MLN): After witnessing the stable ground yesterday, Pakistani rupee (PKR) on Friday ended the trade at 162.43 per USD, its highest close since October 16, 2020 and 54 paisa lower than the last session's closing of PKR 161.89 per USD.
According to Asad Rizvi, the former Country Treasurer of Chase Manhattan Bank, the depreciation in home currency has occurred due to escalated import bill and decline in foreign exchange reserves.
The rupee traded within a very narrow range of 70 paisa per USD showing an intraday high bid of 162.55 and an intraday Low offer of 161.90.
During the week, the currency has lost 11 paisa against the greenback, as the previous week was concluded at PKR 162.32 per USD.
Within the Open Market, PKR was traded at 162/163 per USD.
The local unit has depreciated by 3% or PKR 4.9 in the fiscal year-to-date against USD. Similarly, the rupee has weakened by 1.6 or PKR 2.6 in CY21 with the month-to-date (MTD) position showing a decline of 3%, as per data compiled by Mettis Global.
Meanwhile, the currency lost 1 rupees to the Pound Sterling as the day's closing quote stood at PKR 227.01 per GBP, while the previous session closed at PKR 226 per GBP.
Similarly, PKR's value weakened by 1.1 rupees against EUR which closed at PKR 193.29 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.1.9 trillion for 7 days at 7.08 percent.
The overnight repo rate towards close of the session was 7.15/7.30 percent, whereas the 1 week rate was 7.07/7.10 percent.
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