Business

PSX closes range-bound session in green

Published

3 years ago

Farwa

Market manages to close with minimal gain of 174.75 points or 0.43%.
Benchmark KSE-100 index closes at 41,054.68 points.
Shares of 315 companies were traded during session.

KARACHI: The Pakistan Stock Exchange (PSX) Tuesday witnessed a range-bound session despite negative cues that dented sentiments of other financial markets.

The stock market opened in the green, however, it soon succumbed to the selling pressure as the bears staged a comeback and held a firm grip during the session. However, the market managed to close with minimal gains.

At close, the benchmark KSE-100 index closed at 41,054.68 points with a gain of 174.75 points or 0.43%.

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

According to Arif Habib Limited, the PSX observed a positive session due to the expectations of Pakistan’s exclusion from the grey list of Financial Action Task Force (FATF).

The KSE-100 index stayed in the green zone as investors opted for value hunting in the oil marketing companies (OMCs), exploration and production and cement sectors.

The volumes remained sluggish on the main board whereas third-tier stocks witnessed healthy volumes.

Sectors contributing to the performance include Banks (+52.6 points), exploration and production (+43.2 points), OMCs (+32.1 points), technology (+28.4 points) and fertiliser (+15.6 points).

Shares of 315 companies were traded during the session. At the close of trading, 163 scrips closed in the green, 128 in the red, and 24 remained unchanged.

Overall trading volumes rose to 120.12 million shares compared with Monday’s tally of 163.79 million. The value of shares traded during the day was Rs3.36 billion.

Unity Foods Limited was the volume leader with 8.18 million shares traded, losing Rs0.12 to close at Rs20.05. It was followed by K-Electric Limited with 7.42 million shares traded, gaining Rs0.02 to close at Rs2.57 and Hum Network Limited with 7.27 million shares traded, gaining Rs0.08 to close at Rs7.16.

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.