PSX’s 100 index to crosses the 76,000 points
The 100-index of the Pakistan Stock Exchange continued with bullish trend, jumping 3,410.73 points, a positive change of 4.69 percent, reaching all time high at 76,208.16 points against 72,797.43 points the previous day.
Mehfooz
PSX Holds Gong Ceremony on Listing of Fast Cables Ltd.
Pakistan Stock Exchange (PSX) held a gong ceremony to celebrate the listing of Fast Cables Limited (FCL). Fast Cables is a manufacturing company producing electrical cables and conductors in Pakistan. Fast Cables’ is the fifth listing via an IPO on Pakistan Stock Exchange in the fiscal year 2023-24.
PSX Presents Federal Budget 2024-25 Proposals for Economic Growth and Employment Generation in Pakistan
Pakistan Stock Exchange (PSX) has submitted a series of important tax proposals to the Ministry of Finance (MoF) and the Federal Board of Revenue (FBR) for consideration in the federal budget for the fiscal year 2024-25. The measures recommended are revenue positive and will encourage resource allocation towards productive and documented sectors of the economy. This is important for economic growth and employment generation in Pakistan.
PSX Lists International Packaging Films Ltd. with a Gong Ceremony
A gong ceremony was held at Pakistan Stock Exchange (PSX) to celebrate the listing of International Packaging Films Limited (IPAK). IPAK is a company pioneering and specialising in manufacturing of the five-layer Biaxially Oriented Polypropylene (BOPP) films used for the purpose of packaging. Specifically, it can be used for food and beverages packaging, garment bags and bagging overwrap, as well as printing pouching and strip packaging among other types of packaging.
PSX Introduces Text-to-Speech Feature on its Website
Pakistan Stock Exchange (PSX) proudly announces the launch of its new Text-toSpeech feature on its website, specifically tailored for the blogs and articles section. This audio enhancement aims to significantly improve accessibility and convenience for users browsing specific content available on PSX website.
PSX Issues the ESG Primer for Listed Companies
PSX has taken yet another major step in realising its vision of ESG readiness for listed companies by issuing the PSX Primer on Environmental, Social & Governance (ESG). The sector agnostic Primer on ESG is a detailed booklet and first of a series of publications meant for guiding listed companies on reporting on ESG. The PSX Primer enables listed companies to understand ESG opportunities and risks, and educates stakeholders on the usage of ESG data while providing guidance to listed companies on producing a Sustainability Report. This is in line with the roadmap and guidance framework of the SECP to promote and encourage ESG reporting among listed companies.
Editor
State Bank declared three days holidays for banks
The State Bank of Pakistan will remain closed from 10th to 12th April, 2024 (Wednesday to Friday)
being public holidays on the occasion of Eid-ul-Fitr.
PSX marks listing of Bank Islami Pakistan’s Ehad Sukuk II with a Gong ceremony
Pakistan Stock Exchange (PSX) held a gong ceremony at the Exchange to mark the listing of BankIslami Pakistan Limited’s Islamic financial instrument of Ehad Sukuk II, a fully paid up, rated, perpetual, unsecured, subordinated, non-cumulative and contingent convertible Mudaraba Sukuk. The issue size was of PKR 1,000 million, out of which Sukuks of PKR 850 million (85% of issue size) were issued to the pre-IPO investors and Sukuks of PKR 150 million (15% of issue size) were offered to the general public by way of Initial Public Offering. The issue price or par value of each Sukuk is PKR 5,000, with an expected profit rate of 1 month KIBOR + 2.5% per annum to be paid out monthly. The instrument has a perpetual tenor. The purpose of the Issue was to raise capital towards the issuer’s Additional Tier I for Capital Adequacy Ratio as per guidelines set by the State Bank of Pakistan.
PSX lists Mahaana Islamic index exchange traded fund
Pakistan Stock Exchange has listed the Mahaana Islamic Index Exchange Traded Fund (MIIETF) managed by Mahaana Wealth Limited (MWL). The commencement of trading of units of MIIETF has taken place with effect from March 11, 2024. The ETF aims to track the performance of Mahaana Islamic Index (MII30) whereby the Index shall be periodically rebalanced and reconstituted in order to provide long term appreciation and dividend yield to investors. The Index is designed to measure the performance of top 30 Shariah compliant companies selected from KMI All share index constituents based on the free float market capitalization, having at least average daily value traded of PKR. 10 million in last 12 months.
PSX turns around to bullish trend, gains 297 points
The 100-index of the Pakistan Stock Exchange turned around to bullish trend, gaining 297.25 points, a positive change of 0.46 percent, closing at 64,646.85 points against 64,349.60 points the previous trading day.
Adil Aziz