【Daily】7 Apr. Brief of Pak BizNews
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KSE 100 44,111.10 ▲ 0.42% KMI 30 71,277.55 ▲ 0.77% KASB Tech Index 289.31 ▲ 1.13%
KASB Market View
· Trading activity however remained low as total daily volumes on ready counter decreased to 108.410 million shares as compared to 115.644 million shares traded Tuesday while total traded value on ready counter declined to Rs 4.270 billion against previous day’s Rs 4.584 billion. · Foreign investors however remained net sellers of shares worth $520,341. Total market capitalization increased by Rs 2 billion to Rs 7.420 trillion. Out of total 324 active scrips, 190 closed in positive and 104 in negative while the value of 30 stocks remained unchanged. · Sectors contributing to the performance include Fertilizer (up 64.4 points), Banks (up 36.0 points), Technology and Communications (up 30.8 points), Power (up 28.7 points) and Investment Banks (up 25.3 points).
National News
Inflation likely to pick up: FY22 growth rate projected to slow to 4pc YoY Pakistan’s GDP growth rate is projected to slow to four percent in fiscal year 2022 from 5.6 percent in fiscal year 2021 and inflation is expected to pick up, averaging 11 percent in fiscal year 2022, says the Asian Development Bank (ADB).
Cement exports: Manufacturers, revenue collection, FX reserves affected badly by decline Steep decline in cement exports is hurting not only the cement manufacturers but also the government’s revenue collection and foreign exchange. There is an immense need to formulate industry-friendly policies to catch-up our cement sales in international markets and increase indigenous consumption of the commodity.
SBP raises Rs679.89bn via T-bills auction, yields soar up to 80bps The cut-off yields on treasury bills were increased by up to 80 basis points in the auction conducted by the State Bank of Pakistan (SBP) on Wednesday. https://mettisglobal.news/sbp-raises-rs679-89bn-via-t-bills-auction-yields-soar-up-to-80bps/
Partial clearance of dues: Govt approves Rs182bn for GPPs The government has approved payment of over Rs 182 billion to clear a part of payment to Government Power Plants (GPPs) of PAEC, Wapda and National Power Parks Management Company Pvt. Limited (NPPMCL) as per payment mechanism already approved for IPPs, well informed sources in Power Division told Business Recorder. https://www.brecorder.com/news/40165782/partial-clearance-of-dues-govt-approves-rs182bn-for-gpps
Cement despatches decline by 6.25% in March Cement despatches declined by 6.25 percent in March 2022. Total Cement despatches during March 2022 were 5.04 million tons against 5.37 million Tons despatched during the same month of last fiscal year. https://mettisglobal.news/cement-despatches-decline-by-6-25-in-march/
SC likely to rule today on Imran blocking his own ouster The Supreme Court said will deliver a judgment which will be in the interest of the nation and will be binding on everyone. https://www.brecorder.com/news/40165786/sc-likely-to-rule-today-on-imran-blocking-his-own-ouster
Gold prices hit all-time high Gold prices on Wednesday hit all-time high on the local market, traders said. Gold prices reached the historic high of Rs 132,800 per tola and Rs 113,855 per 10 grams, up by Rs 800 and Rs 686, respectively. https://www.brecorder.com/news/40165773/gold-prices-hit-all-time-high
Caretaker PM: NA speaker writes to PM Imran, opposition leader to constitute committee National Assembly Speaker Asad Qaiser on Wednesday sought four names each from Prime Minister Imran Khan and Leader of the Opposition Shehbaz Sharif to constitute a parliamentary committee for the appointment of a caretaker prime minister, Aaj News reported
SNGPL, SSGC repair 887km pipelines The Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) have collectively repaired around 887-kilometer faulty pipelines and rectified 1447,342 leakages in line with the government strategy to bring down the Unaccounted for Gas (UFG) ratio. https://mettisglobal.news/sngpl-ssgc-repair-887km-pipelines-2/
Commodities and Currency: 1-Day Change
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