MSCI May’24 Index Review: Pakistan weight at 3.7%
In its latest Index Review, MSCI announced changes in its global indices constituents, effective June 1, 2024. The National Bank of Pakistan (NBP) has been added to the MSCI FM…
PSX is set to witness Fast Cables IPO
Pakistan Stock Exchange (PSX) is set to witness another IPO in 2024, with book building scheduled for May 15-16, 2024. Fast Cables is offering 128mn shares with floor price of…
MSCI Semi-Annual Index Review: Pakistan’s weight is expected to increase
MSCI is scheduled to release its results of the May 2024 Semi-Annual Index Review today (i.e. May 14, 2024). Announcement is expected to be made available shortly after 11 p.m.…
Pakistan Stock Exchange Index likely to reach 87k by Dec 2024, 106k by Jun 2025
We have revisited our target PE for Dec 2024 after incorporating Pakistan’s successful completion of US$3bn stand-by agreement with IMF and initiation of talks for a new IMF program, Extended…
IPAK Book Building starts today (8th May)
International Packaging Films Limited IPO's book-building phase will be held on May 08 and 09, 2024. High-net-worth individuals and institutional investors will subscribe to 70.1 million shares. The book-building phase…
A review of PSX performance during April 2024
Robust momentum weighting on the IMF program and prospects of investment from friendly countries KSE-100 observed a healthy momentum during Apr'24, which took the index to the highest-ever level of…
KSE-100 reaches an all-time high of 70,910 points
Market Commentary During the week, the market experienced a mixed sentiment, yet ultimately concluded on a positive note, closing at the highest-ever index of 70,910 points. The positive momentum was driven…
Breaking all barriers! PSX crossed 70k level
The market maintained its upward trajectory throughout the 2-day working week, (due to Eid-ul-Fitr holidays), settling at an all-time high level above 70,000 points. The positive sentiment stemmed from the…
Engro Corp sells EPQL, a 69% stake, and will receive after-tax dividends of PKR30.7bn (c.PKR57.2/sh).
Engro Corporation, in a recent notification, announced that it has entered into a definitive agreement with Liberty Power Holding (Pvt.) Limited to sell its entire energy vertical, including Engro Power…
Engro signs a share purchase agreement with the consortium to sell thermal energy assets.
Engro Energy Limited, a wholly owned subsidiary of Engro Corporation Limited, has entered into a Share Purchase Agreement with Liberty Power Holding (Pvt.) Limited and consortium for the sale of…
KSE-100_Low volumes witnessed
The index opened on a positive note and faced a volatile trading sessions. The local bourse posted a high of 299pts, a low of 264pts and concluded with a loss…
The market expects a cut in interest rates in the final quarter of the fiscal year.
Week remained bullish with the benchmark index breaking its previous closing highs and exceeding the 67k level. Overall, the first four trading days cumulatively added around 2k pts, with the…
Secure Logistics Group Ltd’s book building starts on 27th March
Secure Logistics Group Ltd IPO's book-building phase will be held on March 27th and 28th. High-net-worth individuals and institutional investors will subscribe to 100% of the issue size (50 million…
Systems Limited 4QCY23 earnings arrive at PKR 5.3/share.
Systems Limited (SYS) announced the financial result for CY23 whereby the company posted a PAT of PKR 8,689mn (EPS: PKR 29.8) against a PAT of PKR 6,629mn (EPS: 22.8) during…
Al-Ghazi Tractors reported a 4QCY23 NPAT of PKR829mn, Payout skipped.
Al-Ghazi Tractors (AGTL) reported a 4QCY23 NPAT of PKR829mn (EPS: PKR14.30), declining 16% QoQ but improving from a loss incurred last year. This brings the CY23 EPS to PKR45.06, reflecting…
Wilmar unit to make further investment in Pakistan-listed Unity Foods
Wilmar Pakistan Holdings Pte. Ltd. ("WPH", a wholly owned direct subsidiary of Wilmar International Limited), Unity Wilmar Agro (Private) Limited ("UWA", a 52% subsidiary of WPH) and certain shareholders of…
Markets expect a rate cut of 100bps, could potentially stimulate positive market sentiment.
PSX's outlook Ongoing discussions with the IMF focus on securing the SBA's second tranche. On successful conclusion, Pakistan will receive the third tranche of the SBA, totaling USD 1.1 bn.…
PSX: Outlook and recommendations
On the political front, forming a government at the centre via a coalition of major victorious political parties will keep the investor sentiment positive. Moreover, the government and SBP have…
PSX saw record corporate profitability in 2023 despite the economic slowdown
Profits of key companies listed at PSX have remained fabulous despite the economic issues faced by Pakistan. In calendar year 2023, 83 companies (88% of market capitalization) of KSE 100…
Nishat Chunian Power’s profitability in 1HFY24 rose by 32% YoY
Nishat Chunian Power Limited (NCPL) announced its 1HFY24 financial result today, where the company posted a profit after tax (PAT) of PKR 2,425mn (EPS: PKR 6.60), up by 32% YoY…
PSX saw another year of record profitability, surpassing PKR 1.5trn
The profitability of the KSE-100 index continues to soar to new heights, posting a robust growth of 51% YoY in CY23. The growth in profitability during the period was attributable…
Nestlé Pakistan achieved all of its sustainability targets for 2023
Nestlé Pakistan ended the year on a positive note, with an increase of 23.4% in its revenue as compared to FY 2022. The results were shared after the Board of…
A voyage beyond 62,000 points level at PSX
Market Commentary The market momentum remained buoyant, surpassing 62,000 points again from 59,000 points last week. The elated sentiment comes amid an agreement between winning political parties to form a…
News about Pakistan Cables selling its plots in Karachi triggered share prices.
Pakistan Cables Limited has uploaded important material information to the Pakistan Stock Exchange (PSX), which triggered the script price in the second half of trading, even touching the upper lock…
PSX: Strong Tuesday session now sets up a test of 62K
According to Arif Habib Ltd Sales, following an agreement to form a govt following almost 2-weeks of deadlock, the KSE-100 rallied to close near the HoD and +1.81% DoD. OGDC…