MG Morning Breeze: Updates to Skim before Market

According to Mettis Global's Morning Breeze, EFU Life Assurance has dropped its plan to buy a 100% stake in Waada Digital (Private) Limited after both parties agreed to call the deal off. The EFUL board made the call with both sides in agreement. Separately, the benchmark KSE-100 closed 1.18% lower at 165,124.41 on Monday, shedding 1,964.86 points as geopolitical tensions triggered broad selling.

On the economic front, Pakistan and the IMF welcomed a staff-level agreement and acknowledged gains in fiscal performance, reserves and inflation. Finance Minister Muhammad Aurangzeb said Pakistan is working to extend debt maturities and aims for a B+ credit rating. Auction calendars released by the State Bank show a target of Rs5.75 trillion from treasury bills and investment bonds between October and December 2026.

The rupee gained 3.04 paisa to close at 276.97 against the dollar, breaking below 277 for the first time since October 2023. Gold fell Rs2,100 to Rs439,936 per tola, while 2D barcodes became mandatory for medicines made or imported on or after Oct. 9. TPL REIT Fund-I said its Saima Mangrove Residences launch in Karachi was heavily oversubscribed.