Mettis Global

KSE-100 market map (Jan 03, 2025) Top gainers during the day were PGLC (+10.02%), BNWM (+10.01%), PSX (+9.77%), EFERT (+9.46%), and MEHT (+7.42%). On the other hand, top losers were PIOC (-6.91%), FCCL (-6.04%), MLCF (-5.29%), KOHC (-4.92%), and DGKC (-4.27%). Read the full story at https://lnkd.in/e_DKTYca

“#UraanPakistan” plan to generate $5bn from freelancing, gig economy The "Uraan Pakistan" 13th Five-Year Plan (2024-2029) aims to generate $5 billion in revenue through #freelancing and the gig economy. The plan sets a target of $10bn for the export of Information and communication technology (#ICT) and high-technology products and services. Read the full story at https://lnkd.in/eyGbrBZ7

PSX Closing Bell: Steady Strides The benchmark KSE-100 Index concluded Friday's trading session at 117,586.98, showing an increase of 467.33 points or 0.40%. The index traded in a range of 2,311.61 points showing an intraday high of 117,891.62 (+771.97) and a low of 115,580.01 (-1,539.64) points. While speaking to Mettis Global, Ali Najib, Head of Equity Sales at Insight Securities said that rumours regarding decartelization in the cement sector put the sector’s stocks onto the firing range as investors opted to book profit in them compelling the whole cement sector to bear selling headwinds. That’s why, #LUCK, #FCCL, #PIOC, #KOHC & #DGKC lost 315 points, cumulatively. Conversely, the fertilizer sector continued to remain a blue-eyed sector where stockholder further strengthened their positions in anticipation of better-than-expected final quarter results along with handsome dividends in them. Therefore, EFERT, FFC & DAWH contributed 849 points to the index, positively, he added. Read the full story at https://lnkd.in/e_DKTYca

#Goldprice in Pakistan rises Rs2,200 per tola. Gold price in Pakistan increased on Friday, with 24-karat gold being sold at Rs276,900 per tola, up Rs2,200. Similarly, 24-karat gold per 10-gram was sold at Rs237,397 after a gain of Rs1,886, according to rates shared by the All-Pakistan Gems and Jewelers Sarafa Association (#APGJSA). The price of 22-karat gold was also quoted higher at Rs217,614 per 10-gram. Read the full story at https://lnkd.in/dYSFUDwP

#PIL faces delays in merger approval. PICIC Insurance Limited (#PSX: #PIL) progress has been notably hindered by the ongoing merger process, with efforts continuing to secure approval from the Sindh High Court and SECP to resume operations. According to the progress report submitted to PSX by PIL. Pakistan Stock Exchange - PSX. Read the full story at https://lnkd.in/dVcaK_FA

#China to boost treasury bonds in 2025 to stimulate growth. China will sharply increase funding from ultra-long treasury bonds in 2025 to spur business investment and consumer-boosting initiatives, a state planner official said on Friday. Beijing is cranking up fiscal stimulus to revitalize the faltering economy, as Reuters reported. Read the full story at https://lnkd.in/d55dwPPn

#Spotgold climbs on policy anticipation, dollar decline. Gold spot prices increased by 0.16% ($4.3) at $2,653.92 per ounce, as of [2:58 pm PST] from the prior day's close of $2,658.23 per ounce. U.S. gold futures rose 0.1% to $2,670.70. Read the full story at https://lnkd.in/dKDrBvpz

#PACRA upgrades the entity ratings of Sindh Microfinance Bank Ltd. The Pakistan Credit Rating Agency Limited [PACRA] has upgraded entity ratings to Sindh Microfinance Bank Limited at ‘A’ for long term and ‘A1’ for short term, with a ‘stable’ outlook forecast. As per an official announcement by the agency, the rating upgrade of Sindh Microfinance Bank reflects its strong financial health, consistent profitability, and robust operational efficiency. Read the full story at https://lnkd.in/dHTGkWWN

#PKR rises by 8 paisa against #USD. The Pakistani rupee (#PKR) increased by 8.07 paisa or 0.03% against the #US dollar in Friday's interbank session to settle the trade at PKR 278.56 per #USD, compared to previous closing of 278.64. Throughout the day, the currency saw an intraday high (bid) of 278.70 and a low (ask) of 278.55. Read the full story at https://lnkd.in/dQUcSr-k

#Tesla reports record sales in China. #US electric vehicle maker Tesla said on Friday that its #China sales rose 8.8% to a record high of more than 657,000 cars in 2024, as Reuters reported. This strong performance came in a competitive market during a year when its annual global deliveries fell for the first time. Read the full story at https://lnkd.in/dZ2nS_94