Business

KSE-100 gains over 500 points on hopes of IMF programme revival

Published

3 years ago

Farwa

KSE-100 index closes at 41,862.77 points with a gain of 1.25%.
Market players assumed fresh positions at the bourse today.
Shares of 325 companies were traded during the session.

KARACHI: The Pakistan Stock Exchange (PSX) opened the short trading week — after a five-day-long Eid ul Adha holiday — in the green with a gain of over 500 points.

The market players assumed fresh positions in hopes of revival of the stalled International Monetary Fund (IMF) programme which will provide a much-needed breather to the economic crisis of Pakistan.

Depreciation of the Pakistani rupee against the US dollar coupled with political instability owning to the upcoming by-polls in Punjab failed to impact to the investment climate.

The benchmark KSE-100 index traded between hope and despair, which eventually let loose the bulls, and pulled the bourse into the green.

At close, the benchmark KSE-100 index closed at 41,862.77 points with a gain of 518.76 points or 1.25%.

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

A report from Arif Habib Limited noted that the bulls triumphed in the trading session at PSX today. The benchmark KSE-100 index traded in the green zone as value buying was witnessed across the board, although the exploration and production sector remained in the limelight.

“Investors gained confidence over expectation of resumption of the IMF programme. Volumes stayed healthy in the main board,” the brokerage house noted.

Sectors contributing to the performance included banks (+140.4 points), exploration and production (+102.6 points), technology (+71.4 points), cement (+65 points) and oil marketing companies (+35.2 points).

Shares of 325 companies were traded during the session. At the close of trading, 212 scrips closed in the green, 90 in the red, and 23 remained unchanged.

Overall trading volumes rose to 164.82 million shares compared with Thursday’s tally of 99.08 million. The value of shares traded during the day was Rs6.48 billion.

TPL Properties was the volume leader with 14.93 million shares traded, gaining Rs0.94 to close at Rs20.62. It was followed by Sui Northern Gas Pipelines with 13.57 million shares traded, gaining Rs2.80 to close at Rs39.75 and Oil and Gas Development Company with 9.97 million shares traded, gaining Rs3.17 to close at Rs83.63.

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.