Weekly Promo of Pakistan’s economy

News Image

MG News | February 10, 2020 at 03:36 PM GMT+05:00

0:00

February 10, 2020 (MLN): Pakistan’s economy has entered into a pivotal phase as a number of crucial events and meetings are lined up for this week, which will ultimately set the direction for the stock market.  

It may be noted here that the local market has started the week on a jeer-worthy note, thanks to the Corona Virus epidemic which has swept its way across the Asia-Pacific as well as several other regions. Majority of the Asian markets were in the red on Monday with investors worried about the impact of the new coronavirus outbreak on the global economy. It has also jolted major supply chains for everything from food and household supplies to car and electronics parts.

Another meeting between Pakistan and the International Monetary Fund is slated to take place today, wherein the latter will resume its review of the country’s performance in various aspects, including the Finance Ministry, Commerce Ministry, Sate Bank and Federal Board of Revenue. The outcome of the meeting shall then determine if Pakistan is eligible for the third tranche of the $6 billion bailout package.

A delegation from Pakistan is also scheduled to meet the officials from the Financial Action Task Force (FATF) on February 16, to commence the plenary session. While the expected outcome of the meeting is uncertain, reports has it that Pakistan has made significant progress in complying with the conditions set by the FATF, therefore the chances of Pakistan escaping the blacklist are somewhat there.

The Pakistan Automotive Manufactures Association (PAMA) will be announcing the results for the month of January during the week. According to a weekly preview done by Al Habib Capital Markers, PSMC may witness the largest drop in sales for the month on account of recent hike in prices.

Moreover, an MTB auction which is due to take place on Wednesday will heavily influence the stock market.

The announcement for MSCI Quarterly Index Review is also due to take place on February 12. While no official details have been disclosed yet, an analyst from AKD Securities has told Mettis Global it’s likely that the weights of certain companies will be changed, and Bank Alfalah shall be deleted from the index.

Besides the above-mentioned events, the market will be influenced by a number of economic data scheduled to be released by the State Bank this week. This may include records pertaining to;

  • Trade of Goods and Services
  • Monetary Aggregates
  • Inflation Monitor
  • Worker Remittances
  • Pakistan’s External Debt/Liabilities Servicing
  • Outstanding Domestic Debt of Public Sector Enterprises
  • Pakistan’s External Debt and Labilities – Outstanding
  • Gross External Debt Position by Sector

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,680.00 119,740.00
118,145.00
385.00
0.33%
BRENT CRUDE 73.23 73.52
71.75
0.72
0.99%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.07 70.35
68.45
0.86
1.24%
SUGAR #11 WORLD 16.47 16.58
16.37
-0.12
-0.72%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg