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Showing posts from March 19, 2023
Pakistan stocks remained under severe pressure   this week  on political tensions and delays in IMF deal. This week KSE100 Index lost 3.36% (1388 points) closing below 40K at 39,942.  See Chart . Breaking silence  Inte r­national Monetary Fund (IMF)   on Friday tied assurances from the country’s (Pakistan) external partners with the renewal of its package deal.   Read Cash Margin Requirement (CMR)  on import of goods has been removed by the State Bank of Pakistan. This was imposed as the country faced foreign exchange crunch. This was having a choke hold on business activities. SBP reserves have improved recently on lower current account deficit and foreign exchange support from China banks.  Read More. Pakistan's total liquid foreign exchange reserves  crossed the $10 billion mark supported by foreign inflows.  Read Real Estate Investment Trust (REIT) Management Companies have been allowed by the  State Bank of Pakistan for privat...
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The Fed raises rates while considering a pause.

In line with expectations, the Federal Reserve raised interest rates by a 25bps. This is the ninth increase in a year. The Fed is trying to achieve a balance in its declared war on inflation while trying to tackle the emerging banking crisis. 
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Adamjee Insurance Ltd., (PSX:AICL)

AICL,  announced its annual results for the year ending December 2022. AICL announced a cash dividend of Rs. 1.5 per share as its final dividend. This is in addition to the Rs. 1.5 per share announced with the half yearly results, making a total of Rs. 3 per share for the whole year, translating into a cash dividend yield of over 10%.
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Pak Suzuki (PSX:PSMC)

Pak Suzuki (PSX:PSMC)  yesterday announced a whopping annual loss after tax of Rs. 6.33 billion (loss per share Rs. 77) for the year ended 2022.  See notice . Share Price (Rs.) 3 Month 1 Year PSMC 117.85 -3.31% -41.94%
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Commodity giant Trafigura is among the companies that received bags of stones from a London Metal Exchange warehouse instead of the nickel briquettes they purchased. twt . Real Effective Exchange Rate (REER) of Pak Rupee in February this year came at 86.5 as compared to 93.96 in Jan'23.
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