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Bulls recover from a sharp fall.

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17 hours ago

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The benchmark KSE-100 Index hovered at 111,005 points after rising more than 2000 points against the previous closing of 108,896 points, indicating that bullish momentum has returned to the Pakistan Stock Exchange (PSX) a day after a sharp bearish rally.

For the past month or so, the proverbial bulls have been galloping thanks to the cash infusion from the International Monetary Fund’s loan release and more discussions on climate funding.

The impending SBP policy rate-cutting meeting is another factor contributing to the current market mood. On December 16, the Central Bank’s Monetary Policy Committee is anticipated to convene.

Market analysts claim that the government’s decision to form a committee to address the outstanding problem of the Advances to Deposit Ratio (ADR) in the banking industry was the cause of the market’s abrupt collapse. However, the trend didn’t last long.

Following an extraordinary run of gains over the past month or so, the Pakistan Stock Exchange (PSX) reached a historic high of 100,000 points on November 30.

The KSE-100 index achieved one milestone after another in November 2024 amid recurring reports of economic stability, mainly due to the recent loan disbursement by the IMF.

The reassuring agreement with the international lender and Pakistan’s economic czar Muhammad Aurangzeb’s subsequent announcement ruling out a mini-budget boosted investor confidence in recent times.

The State Bank of Pakistan lowered the policy rate by 250 basis points to 15% on November 5.

Inflation dropped more quickly than anticipated and approached its medium-term target range in October, according to the SBP’s relevant committee.

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ADB authorizes a $200 million loan for Pakistan to upgrade its power distribution system.

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A $200 million loan from the Asian Development Bank (ADB) has been authorized to update Pakistan’s power distribution system.

The project intends to improve data management and communication networks and deploy more than 300,000 smart metering equipment.

The project will involve improvements to voltage levels at SEPCO grid stations and monitoring systems for 15,500 transformers. LESCO plans to build or upgrade 25 grid stations with cutting-edge machinery. The initiative will reinforce income security, enhance demand management, and lower power losses, all of which will help to address

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PSX 100-index reaches an unprecedented peak, exceeding 111,000 points.

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The Pakistan Stock Exchange (PSX) reached the significant milestone of 111,000 points shortly after today’s market opening.

The KSE-100 Index ascended by more than 1,000 points in the initial five minutes of trade, achieving a notable increase of 1,044 points to attain 111,014 points.

The increase indicates heightened investor confidence and a robust market sentiment.

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SIFC Initiates Carbon Market Initiative: Pakistan Pursues Green Investment at COP29

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3 days ago

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Pakistan has introduced its inaugural Carbon Market Policy at the 29th Conference of the Parties in Baku to attain climate objectives and encourage green investments.

The policy seeks to enhance investment in the energy, agriculture, and forestry sectors.

Through the initiatives of the Special Investment Facilitation Council, Pakistan has developed a transparent carbon market framework that adheres to international norms.

The policy conforms to international standards and establishes a definite strategic orientation.

Pakistan’s carbon market policy promotes environmental conservation, economic development, and sustainability.
It promotes the use of eco-friendly technologies by enterprises and the reduction of greenhouse gas emissions.

The policy represents a substantial advancement in the worldwide effort to combat climate change. It encourages international investors and organizations to participate in Pakistan’s carbon market.

SIFC aims to mitigate environmental concerns while promoting economic growth via the Global Carbon Market.

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