MG Morning Breeze: Updates to Skim before Market

Mettis Global’s October 28 Morning Breeze gathered updates on Pakistan’s markets, listed companies and policy. The roundup reported that the KSE-100 gained 1,428.74 points to close at 164,467.20, while the rupee edged up to 276.80 per dollar and gold fell Rs1,300 per tola to Rs422,136.

Company results were mixed: CNERGY posted a Rs12.64bn first-quarter profit after a year-earlier loss, while Nishat Power’s profit slipped 7.35% to Rs541.38m. Abbott Laboratories’ nine-month profit rose 24.57% to Rs6.68bn, and Fauji Cement’s first-quarter profit increased 50.87% to Rs4.96bn.

The digest also said a court rejected TRG Pakistan’s suit against the SECP, allowing the regulator’s show-cause proceedings to continue. Separately, a consortium led by Lucky Cement was shortlisted for due diligence on IESCO, and the government revised fuel prices, increasing diesel by Rs2.25 and cutting petrol by Rs3.19 per litre.