MG Morning Breeze: Updates to Skim before Market

Mettis Global’s October 29 morning roundup covered a broad set of market and company updates. Pakistan raised petrol by Rs1.85 per litre and high-speed diesel by Rs1.75, while the KSE-100 gained 1,269.55 points to close at 165,736.75; the rupee also edged stronger against the dollar to PKR 276.77.

Among reported results, Engro Holdings’ nine-month profit fell 41.68% to Rs48.42bn, while Fauji Fertilizer’s rose 13% to Rs71.02bn. Bank of Khyber and National Bank of Pakistan reported profit declines of 52% and 26%, respectively. Colgate-Palmolive Pakistan agreed to buy a Port Qasim facility and related assets, subject to regulatory approval, while Otsuka Pakistan approved a production-line change that will leave machinery idle.

Other updates included the State Bank raising minimum capital requirements for banks and DFIs, and collecting Rs1,913.25bn through an MTB auction. Gold rose Rs3,500 per tola to Rs425,636, while international oil prices climbed amid regional supply concerns. The roundup also reported company results across multiple sectors and a new PSX listing commencing trading.