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CNG stations to remain shut for 48 hours to...

July 09, 2020 (MLN): In order to divert gas to K-Electric and reduce the volume of load shedding, the Sui Southern Gas Company has decided to close CNG stations from Friday to Sunday.

In a letter addressed to Petroleum Pump owners, the company informed that the closure shall be observed from Friday 8 am to Sunday 8 am, i.e. 48 hours.

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Closing Bell: Over the rainbow

July 09, 2020 (MLN): Following the strong upward move seen in previous sessions, equities resumed its momentum by climbing 431 points to close at 36,142-mark as the coronavirus cases appeared to slow down.

Index posted a record trading volume of 2020 on Thursday, which has been the highest since Dec 5, 2019.  

The KSE-100 Index continued its northward journey as the market surged by 2432.54 points in the last 10 straight wins and gained 5% in FY21.

The Index remained positive throughout the session touching an intraday high of 36,190.70

Of the 95 traded companies in the KSE100 Index 61 closed up 32 closed down, while 2 remained unchanged. Total volume traded for the index was 333.34 million shares.

Sectors propping up the index were Commercial Banks with 218 points, Oil & Gas Exploration Companies with 80 points, Power Generation & Distribution with 48 points, Fertilizer with 38 points and Oil & Gas Marketing Companies with 29 points.

The most points added to the index was by HBL which contributed 56 points followed by HUBC with 43 points, PPL with 35 points, BAFL with 31 points and POL with 27 points.

Sector wise, the index was let down by Pharmaceuticals with 20 points, Automobile Assembler with 7 points, Leather & Tanneries with 3 points, Textile Spinning with 2 points and Miscellaneous with 2 points.

The most points taken off the index was by INDU which stripped the index of 9 points followed by SEARL with 8 points, HINOON with 7 points, AICL with 6 points and GLAXO with 5 points.

All Share Volume increased by 149.79 Million to 467.49 Million Shares. Market Cap increased by Rs.66.85 Billion.

Total companies traded were 378 compared to 378 from the previous session. Of the scrips traded 249 closed up, 109 closed down while 20 remained unchanged.

Total trades increased by 30,208 to 153,917.

Value Traded increased by 2.66 Billion to Rs.15.68 Billion

CompanyVolume

Top Ten by Volume

Unity Foods40,652,000
Pak Elektron39,604,500
TRG Pakistan38,452,500
Hascol Petroleum28,387,500
Lotte Chemical Pakistan18,522,500
Maple Leaf Cement Factory16,538,500
Pakistan International Bulk Terminal15,160,000
The Bank of Punjab12,912,000
Bank Alfalah12,840,287
Fauji Foods11,745,500

 

SectorVolume

Top Sector by Volume

Technology & Communication62,196,100
Commercial Banks60,780,151
Oil & Gas Marketing Companies41,066,072
Cable & Electrical Goods40,778,950
Vanaspati & Allied Industries40,659,600
Cement38,455,664
Chemical30,204,911
Power Generation & Distribution21,367,925
Food & Personal Care Products19,018,480
Transport16,895,500

 

 

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Pakistan’s Forex Reserves Increase by USD 819.10 Million

July 09, 2020 (MLN): Pakistan's Forex Reserves increased by USD 819.10 Million or 4.56% and the total liquid foreign reserves held by the country stood at USD 18,790.10 Million on Jul 03, 2020.

According to data published by the State Bank of Pakistan (SBP) its reserves increased by USD 810.60 Million. This increase in reserves is primarily attributed to proceeds of US$1,000 million as GOP loan disbursement from China.

During the week, SBP also made government external debt payments of US$ 231.2 million.

Summary of Holding and Weekly Change

Foreign reserves held byJul 03, 2020Jun 26, 2020Change% Change
State Bank of Pakistan12,041.6011,231.00810.607.22%
Net Foreign Reserves Held by Banks6,748.506,740.008.500.13%
Total Liquid Foreign Reserves18,790.1017,971.00819.104.56%

Amount in USD Million

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Foreign investors take a step back from investing in...

July 09, 2020 (MLN): The foreign investors took a step back from investing in local markets, as the total purchase of securities via Specially Convertible Rupee Accounts (SCRA) stood at Rs.11.1 billion, which is 45.9 percent lower than the prior week.

According to a weekly report on SCRA released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.10.7 billion, which is around 23.5 percent lower than the figures recorded last week.

Consequently, the net purchase of securities for the week ended July 03, 2020, clocked in at Rs.477.68 million, i.e. around Rs.6.15 billion lower than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.9.43 billion while the net sale of securities tumbled by Rs.3.28 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.5.55 billion, while its outflow has been reported at Rs.4.28 billion.

The closing balance of SCRA was recorded at Rs.30.76 billion, which marks a rise of Rs.840.14 million over the week.

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Gold extends gains to a fifth session

July 09, 2020 (MLN): Gold surged again today, extending gains to a fifth straight session despite the rise in the local benchmark stock index. The price of 24 Karat-Gold jumped by Rs 800 to Rs 109,100 per tola in the local market. The valuable yellow metal had closed at Rs 108,300 per tola on the previous trading day. 

According to the Karachi Sarafa Association, the price of 10-gram gold also gained by Rs 686 to settle at Rs 93,536 against Rs 92,850 on the last trading day.

On the other hand, the silver prices remained flat at Rs 1,060 per tola.  Similarly, 10-gram silver stayed stagnant at Rs 908.78.

In the international market, gold prices reached $1,814 an ounce, up by $12 while silver was pegged at $18.95 per ounce.

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