MG Morning Breeze: Updates to Skim before Market

Mettis Global’s October 22 morning roundup covered a range of Pakistani market and business updates, including a 0.47% rise in the KSE-100 to 165,930.98 on Wednesday. The report also noted that petrol fell by Rs2.71 per litre from October 22, while high-speed diesel increased by Rs0.31 per litre.

Several listed companies reported stronger earnings: SEARL’s first-quarter profit rose 30.77% year on year to Rs1.20bn, while RMPL’s nine-month profit increased 11% to Rs5.66bn. NCL’s quarterly profit more than tripled to Rs1.73bn, EPCL returned to profit with Rs399.06m over nine months, and PRL reported Rs13.97bn in first-quarter profit.

The roundup also reported a forced outage at HUBC joint-venture CPHGC’s Unit 1 following a serious transformer fault. Elsewhere, Pakistan’s IT exports reached about $435m in September, gold fell Rs900 to Rs434,536 per tola, and the rupee appreciated 3.08 paisa to Rs276.87 per dollar. It also noted changes to the National Savings profit rates and the removal of BAHL and SYS from the NIT Pakistan Gateway Index.