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Trading volumes drop to 20-month low at PSX

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  • Political unrest, rupee depreciation add to woes of local investors.
  • KSE-100 index sheds 286.44 points to settle at 43,366.89.
  • Shares of 334 companies were traded during the session.

 KARACHI: Trading volumes at the Pakistan Stock Exchange (PSX) dropped to a 20-month low on Monday with 115 million shares changing hands during the trading session.

Overall trading volumes declined to 115.11 million shares compared with Friday’s tally of 149.29 million. The value of shares traded during the day was Rs3.64 billion.

The lacklustre performance at the bourse was witnessed due to rising political unrest in the country in the wake of a no-confidence motion against Prime Minister Imran Khan.

Moreover, the depreciation of the Pakistani rupee against the US dollar — which dropped to an all-time low of Rs178.98 — coupled with rising commodity prices in the international market added fuel to the downtrend.

Investor interest was mostly witnessed in the fertiliser sector over increasing urea prices where Engro Fertiliser, Fauji Fertiliser and Fauji Fertiliser Bin Qasim closed on a higher note

At the close, the benchmark KSE-100 index shed 286.44 points, or 0.66%, to settle at 43,366.89 points.

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

Arif Habib Limited in its post-market commentary noted that a range-bound session was observed today due to political unrest.

“The market opened in the green zone and stayed volatile throughout the day,” it said, adding that mainboard activity remained dull.

On the flip-side, activity continued to remain side-ways as the market witnessed hefty volumes in the third-tier stocks. The brokerage house stated that in the last trading hour, across the board selling was witnessed which led the index to close in the red zone.

Sectors contributing to the performance included exploration and production (-57.7 points), banks (-56.7 points), cement (-56.5 points), technology (-52.2 points) and power (-29 points).

Shares of 334 companies were traded during the session. At the close of trading, 79 scrips closed in the green, 242 in the red, and 13 remained unchanged.

Flying Cement was the volume leader with 11.6 million shares traded, losing Rs0.10 to close at Rs0.16. It was followed by Pak Elektron with 8.14 million shares traded, gaining Rs0.18 to close at Rs2, and Ghani Global Holdings with 7.02 million shares traded, losing Rs0.64 to close at Rs14.68.

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

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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.

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In January 2025, RDA inflows reach 9.564 billion USD.

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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.

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

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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.

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