MG Morning Breeze: Updates to Skim before Market

Mettis Global’s November 2 morning roundup covered regulatory, monetary and market developments alongside company results. The KSE-100 rose 2.48% over the week to October 30, closing at 166,409.25, while the State Bank issued draft Open Banking Regulations for consultation and the SECP classified 39,704 companies as inactive for prolonged filing failures.

The roundup also noted sharply different earnings results: Bank Makramah recorded a Rs5.78bn loss for the nine months to September, while Atlas Honda’s half-year profit rose to Rs11.53bn and NetSol’s first-quarter profit reached Rs326.64m. OGDC reported first-quarter profit of Rs58.51bn and declared a Rs5 per-share dividend; meanwhile, Hum Network’s quarterly profit fell 87% and Roshan Packages reported a loss. It also reported a Rs2.29 per litre diesel price increase, with petrol unchanged.