MG Morning Breeze: Updates to Skim before Market

Mettis Global’s October 27 morning roundup covered a 50-basis-point increase in the SBP policy rate to 12%, higher fuel prices and a rebound in equities. Effective October 27, petrol rose Rs1.54 to Rs379.25 per litre and HSD increased Rs2.16 to Rs395.82. The KSE-100 gained 663.59 points, closing at 163,038.46.

Corporate results were mixed: Bestway Cement’s quarterly profit climbed 24.47% to Rs6.84 billion, while Fauji Foods’ nine-month profit fell 29.56% to Rs665.77 million. Ghani Chemical reported a 48.29% rise in quarterly profit to Rs783.79 million, and Loads Limited’s profit increased 19.22% to Rs92.53 million. The roundup also reported that the SBP bought a net $863 million in the interbank market in July and expects reserves to reach $25 billion by June 2027.