【Daily】29 Mar. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Mar 29, 2022

-Daily Market-

KSE 100 43,933.6 ▲ 0.88%

KMI 30 70,911.7 ▲ 1.70%

KASB Tech Index 393.2 ▼ 0.19%


KASB Market View

·       Political uncertainty, higher commodity prices along with weakening currency would continue to dent the investor’s sentiments.

·        Cyclical stocks are expected to come under pressure. While investors will prefer to accumulate value stocks at cheap valuations.


National News


Capital market uplift; $300m aid plan inked with ADB

The government of Pakistan and the Asian Development Bank (ADB) Monday signed Capital Market Development Programme (Subprogram 2) amounting to $300 million.



Petrol and Diesel Prices to Break All Previous Records in April

The Price Differential Claim (PDP) of the Oil Marketing Companies and Refineries is projected to reach Rs. 36.07 per liter for High-Speed Diesel (HSD) and Rs. 19.64 per liter for petrol during the next fortnight if the government decides to maintain the oil prices at the existing level.



Mari Petroleum inject 20 mmcfd of gas in Sui North network

Mari Petroleum Company Limited (MPCL) announce the commencement of first gas from the Tipu compartment of “Goru B” reservoir of the Mari gas field.



PSO’s circular debt hits Rs658bn

The cash flow of the state-owned oil marketing company Pakistan State Oil (PSO) has further aggravated as its circular debt has risen to Rs658 billion with receivables at more than half a trillion rupees and payables at Rs157 billion.



Local rebar prices increase by Rs7,000/ton

The prices of local rebar have been surged by Rs7,000 per ton, taking the new local rebar prices to Rs216,000 per ton and Rs214,000 per ton for deform and Xtreme rebars, respectively.



Urea offtake up 30pc, DAP down 38pc in Feb

Urea fertiliser offtake during February 2022 increased 30 percent, while that of diammonium phosphate (DAP) declined 38 percent because of an unprecedented hike in the prices of these nutrients in international markets, data showed on Monday.



Banks, DFIs approve Rs435bn loans under TERF: SBP governor

Banks and DFIs have approved loans worth Rs 435 billion under the State Bank of Pakistan’s Temporary Economic Refinance Facility (TERF), informed governor SBP Dr Reza Baqir on Monday.



Cement makers seek zero-rating for ease of doing business

Pakistan Cement Manufacturers Association (PCMA) have proposed zero-rating of various duties and taxes for ease of doing business, reducing the cost of production and increasing investment in the sector.



Telecard announces book-building dates for listing of Supernet Ltd

Telecard’s subsidiary Supernet Limited (SNL) has received clearance from Pakistan Stock Exchange (PSX) for the book building dates for its proposed listing, the company’s filing on the bourse showed today. Accordingly, the book-building dates have been set as Tuesday, April 12, 2022, and Wednesday, April 13, 2022, the notice said.



SECP authorizes Burj Modaraba to float first green energy modaraba of Rs1bn

The SECP’s Registrar Modaraba, with approval of the Religious Board, authorized the floatation of Burj Clean Energy Modaraba (an Islamic Financial Institution) managed by Burj Modaraba Management Company (Private) Limited, under the Modaraba Ordinance, 1980.



SECP approves first debt ‘Exchange Traded Fund’ for listing on PSX

The Securities and Exchange Commission of Pakistan (SECP) has approved Pakistan’s first debt Exchange Traded Fund (ETF) for listing on the Pakistan Stock Exchange (PSX) Limited.


Commodities and Currency: 1-Day Change

Gold: USD 1,925 ▼ 0.73%

Silver: USD 25.09 ▼ 0.41%

Crude Oil: USD 104.50 ▼ 1.38%

USD-PKR: Rs 182.55/USD ▲ 0.47%

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