Business

KSE-100 boosted by upbeat economic data surpasses 42,000 mark

Published

2 years ago

Farwa

KSE-100 index settles at 42,001.34 points with an increase of 0.33%.
Remittance receipts motivate investors to assume fresh positions.
Bullish investor spirits helped the index end the day on a positive note.

KARACHI: The Pakistan Stock Exchange (PSX) resumed its upward march on Tuesday aided by strong economic cues and encouraging remittance data.

Resultantly, the KSE-100 index breached the psychological barrier of 42,000 points.

Investors weighed sentiments on encouraging remittances reading, which clocked-in at $2.7 billion in August 2022. The strong receipts motivated investors to assume fresh positions.

The KSE-100 index spiked as soon as trading began and gained nearly 200 points, however, the momentum was broken as investors resorted to profit-booking that erased a few of the gains by the end of the session. Bullish investor spirits helped the index end the day on a positive note.

At close, the benchmark KSE-100 index settled at 42,001.34 points with an increase of 139.05 points, or 0.33%.

Benchmark KSE-100 index intra-day trading curve. — PSX data portal

Arif Habib Limited in its post-market commentary noted that another range-bound session was witnessed at the PSX today.

“The market opened in a positive zone and continued to trade in a consolidated range as investor’s participation remained dull throughout the day due to weakening Pakistani rupee against the US dollar,” it said.

However, in the last trading hour value buying was noticed.

Sectors contributing to the performance included banks (+75 points), automobile assemblers (+35.7 points), cement (+33.5 points), power (+22 points), and textile (+8.5 points).

Shares of 324 companies were traded during the session. At the close of trading, 145 scrips closed in the green, 151 in the red, and 28 remained unchanged.

Overall trading volumes soared to 118.51 million shares compared with Monday’s tally of 161.42 million. The value of shares traded during the day was Rs3.87 billion.

Hascol Petroleum was the volume leader with 10.21 million shares traded, gaining Rs0.21 to close at Rs6.81. It was followed by K-Electric with 6.92 million shares traded, losing Rs0.01 to close at Rs3.21 and Quice Food Industries with 5.41 million shares traded, gaining Rs0.66 to close at Rs4.53.

Business

The total amount of Pakistan’s liquid foreign reserves is $15.95 billion.

Published

3 days ago

Farwa

As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.

Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.

Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.

The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.

Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.

Business

In January 2025, RDA inflows reach 9.564 billion USD.

Published

2 weeks ago

Farwa

Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

Business

FBR lowers Karachi’s built-up structure property valuation rates

Published

2 weeks ago

Farwa

A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.