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Business Recorder
a day ago
- Business
- Business Recorder
PACRA's shares trading to commence from Monday
LAHORE: The gong ceremony for marking the listing of Pakistan Credit Rating Agency (PACRA) will be held on the Growth Enterprise Market (GEM) Board of PSX, here at Pakistan Stock Exchange Regional Office on Monday (June 30). According to PSX sources, trading in PACRA's shares will commence on June 30 and will follow the T+2 settlement cycle, with the first settlement scheduled for Wednesday, July 2, 2025. The market lot for trading has been set at one share of Rs1 each, as per the notice issued by PSX. It may be added that the PACRA's shares have already been declared eligible securities by the Central Depository Company of Pakistan Limited (CDC), and all transactions will be cleared through the National Clearing Company of Pakistan Limited (NCCPL). The NCCPL has assigned the company code 'GEMPACRA' for trading purposes. Moreover, the opening price of the shares has been fixed at PKR 15.05 per share, as determined through the Book Building process. CDC Share Registrar Services Limited has been appointed as the share registrar for the company. The PACRA will be listed under the 'Miscellaneous' sector in the Daily Quotation of the Exchange. Copyright Business Recorder, 2025
Business Recorder
14-05-2025
- Business
- Business Recorder
Equities extend gains in Pakistan
KARACHI: The Pakistan Stock Exchange (PSX) extended its upward momentum for the second consecutive day as investors weigh Pak-India ceasefire talks fostering stability. The benchmark KSE-100 Index increased by 1,278.16 points or 1.09 percent to close at 118,576 points on Tuesday compared to 117,298 points on Monday. The intraday trading index also touched a high level of 120,067 points and low level of 116,860 points. Overall, some 684 million shares were traded down from 733 million a day earlier. Analysts said the bullish momentum from the previous session carried forward, fuelled by robust institutional buying particularly from local mutual funds, as indicated by NCCPL data. This positive sentiment propelled the benchmark index to an impressive intraday gain of 2,769 points. The key drivers of the rally included heavyweight stocks such as PPL, OGDC, LUCK, PSO, and MARI, which collectively contributed 1,177 points to the KSE-100 index's upward trajectory, they added. On Tuesday, BRIndex100 opened at 12,403.25 points and finally closed at 12,643.50, which was 240.25 points or 1.94 percent higher than previous close. Total volume at BRIndex100 was 601.262 million. BRIndex30 also gained 1,731.67 points or 4.87 percent to settle at 37,292.95 points with a total volume of 402.802 million shares. Ahsan Mehanti of Arif Habib Corp said stocks closed higher as investors weigh Pak-India ceasefire talks fostering stability and FM assurance on the thin fiscal impact of conflict. The rupee stability on easing geo political tensions & IMF loan approval, upbeat global equities and surge in global crude oil prices played a catalyst role in bullish close at PSX, he added. The overall share trading volume market decreased from 732 million to 684 million shares. However, the share trade value increased to Rs 52.58 billion on Tuesday compared to Rs. 22.204 billion a day earlier. The market capitalization increased by 189 billion to reach Rs. 14.016 trillion. WorldCall Telecom was the volume leader with around 42 million shares and closed at Rs 1.26 followed by Maple Leaf that closed at Rs 75.92 with 41 million shares. Sui South Gas ranked third with share trading of 35.7 million shares and it closed at Rs 32.79. PIA Holding Company LimitedB and Lucky Core Industries Limited the top gainers increasing by Rs 850.88 and Rs 97.35 respectively to close at Rs 9,359.63 and Rs 1,557.37, while Rafhan Maize Products Company Limited and Nestle Pakistan Limited were the top losers declining by Rs 154.22 and Rs 90.58 respectively to close at Rs 8,911.00 and Rs 7,074.09. BR Automobile Assembler Index closed at 22,336.18 points, rising by 64.45 points or 0.29 percent, with a turnover of 6.99 million shares. BR Cement Index surged to 10,140.61 points, posting a strong gain of 332.88 points or 3.39 percent, on a turnover of 125.32 million shares. BR Commercial Banks Index declined to 34,288.59 points, down 378.15 points or 1.09 percent, with 59.82 million shares traded. BR Power Generation & Distribution Index ended at 19,663.66 points, slipping by 78.19 points or 0.4 percent, with a turnover of 43.47 million shares. BR Oil & Gas Index gained 570.64 points or 5.04 percent to close at 11,882.96 points, on 123.67 million shares turnover. BR Technology & Communication Index finished at 4,867.14 points, adding 51.82 points or 1.08 percent, with 77.05 million shares traded. Analysts at JS Global said the KSE-100 Index surged 2.4 percent in intraday trading, continuing its three-session rally and nearing its all-time high of 120,796 points. The bullish sentiment follows signs of de-escalation in India-Pakistan tensions, which previously weighed on the market. Additionally, the IMF's financial support, including a fresh $1.4 billion under the Resilience and Sustainability Facility, has boosted investor confidence, they added. Copyright Business Recorder, 2025
Business Recorder
13-05-2025
- Business
- Business Recorder
Green Sukuk auction on 16th
KARACHI: The first inaugural issuance of GoP Ijarah Green Sukuk (GIGS) amounting to Rs 30 billion under the Sustainable Investment Sukuk (SI Sukuk) Framework is scheduled for Friday (May 16) through the PSX auction system. In a landmark development for sustainable finance, last week the Government of Pakistan had approved the issuance of the country's first-ever Green Sukuk under the SI Sukuk Framework. According to PSX announcement, all Broker Clearing Members (BCMs), Non-Broker Clearing Members (NBCMs) and Professional Clearing Member (PCM) of National Clearing Company of Pakistan Limited (NCCPL) are eligible to participate in the Auction for their proprietary accounts, investors and funds under their management. The auction will be conducted as per the auction mechanism currently in place at PSX for issuance of GoP Ijarah Sukuk (GIS). Green Sukuk makes debut with Rs20-30bn issue All participants shall use their same credentials (User ID, Password and PIN Code) for this auction as were used in 30th Apr, 2025 auction for investor mapping/cash assignment and bidding. In case of any amendment in the Participants' Admin user details, participants may provide the updated details to PSX/NCCPL. BCM participants are required to provide instrument wise 10 percent Advance Committed Amount and inform PSX/NCCPL. The investors registered by the participants in 20th GIS auction dated 30th Apr, 2025 shall remain in the auction system and participants are only required to map the instruments and assign cash where applicable. The Cabinet Division already granted its approval on April 15, 2025, with the issuance being led by the Ministry of Finance (MoF). Accordingly, the Ministry of Finance (MoF), Debt Management Office (DMO) in collaboration with Securities & Exchange Commission of Pakistan (SECP) and Pakistan Stock Exchange Limited (PSX), last week announced the inaugural issuance of Green Sukuk. The first inaugural issuance of Green Sukuk amounting to Rs 30 billion, will be executed through an auction process facilitated by the Pakistan Stock Exchange (PSX), the Central Depository Company(CDC), and the National Clearing Company of Pakistan Limited (NCCPL) collectively known as Capital Market Infrastructure Institutions (CMIIs). The proceeds raised against the SI Sukuk has to be utilized for funding or refinancing of Green, Sustainable and Social projects falling within the following broad categories. These categories are not exhaustive and SI Sukuk may also be issued for utilization on projects falling outside these categories provided the same have been approved by the Project Evaluation and Selection Committee on the basis of assessed environmental benefits and the objective of this Framework. Structured in full compliance with Shariah principles, the Green Sukuk aims to raise funds for projects that support environmental sustainability, including renewable energy initiatives and green infrastructure development. The auction will follow the existing mechanism implemented by PSX, with detailed guidelines and timelines to be announced separately. Copyright Business Recorder, 2025
