Karachi, The Pakistan Stock Exchange (PSX) commemorated the listing of BankIslami Pakistan Limited's Ehad Sukuk II, an innovative Islamic financial instrument, aiming to bolster the bank's capital and provide investors with Shariah-compliant investment opportunities.

According to Pakistan Stock Exchange Limited, a gong ceremony was conducted to celebrate the successful listing of Ehad Sukuk II, representing a significant milestone in Islamic finance within the country. The Sukuk, valued at PKR 1,000 million, saw a robust response from investors, with an 85% pre-IPO issuance to institutional investors and the remaining 15% made available to the public, resulting in an oversubscription of 56.23%.

The instrument's objective was to augment BankIslami's Additional Tier 1 capital to align with the State Bank of Pakistan's capital adequacy requirements. It offered an attractive expected profit rate pegged to the 1-month KIBOR plus 2.5% per annum, paid monthly, underscoring its appeal to investors seeking regular income.

The subscription process highlighted the efficacy of the PSX and CDC e-IPO system, which facilitated a streamlined application process, receiving an enthusiastic response and substantial funds exceeding the initial offering.

The event was attended by key figures, including BankIslami Pakistan Limited's President and CEO Mr. Rizwan Ata and PSX's MD and CEO Mr. Farrukh H. Khan, who acknowledged the Sukuk's contribution to diversifying the financial instruments on the PSX and fostering the growth of Islamic finance in Pakistan.

Mr. Rizwan Ata expressed his satisfaction with the market's reception of the Sukuk, noting it as a testament to BankIslami's commitment to promoting ethical financial solutions and supporting economic prosperity through Islamic banking principles.

The successful listing and the active participation of investors in the Ehad Sukuk II IPO demonstrate the growing interest and confidence in Shariah-compliant financial products, signaling a positive outlook for Islamic finance in Pakistan's capital markets.

Karachi, The Pakistan Stock Exchange (PSE) has showcased a significant transformation in its market dynamics over the last six months, according to the latest financial announcements provided to the PSE. The data, covering the period from September 2023 to February 2024, reveals trends in listed capital, market capitalization, share turnover, and performance indices including the KSE 100 and KSE All Share Index.

In September, the exchange observed a listed capital of 6,885,570.255 million rupees, with a market capitalization of 3,447.734 million rupees. The turnover of shares in the ready market was recorded at 1,621.924 million, alongside future contracts turnover at 46,232.590 million shares. The KSE 100 Index stood at 31,158.710, with the KSE All Share Index at a similar level.

The following month, October, saw an increase in listed capital to 7,551,772.884 million rupees and a significant jump in market capitalization to 8,404.818 million rupees. The turnover of shares also increased to 2,531.777 million in the ready market and to 51,920.270 million in future contracts. This month marked a noticeable rise in the KSE 100 Index to 34,558.220 and the KSE All Share Index as well.

November further accelerated the upward trend with a listed capital of 8,729,523.266 million rupees and a market capitalization reaching 14,056.434 million rupees. The ready market saw a turnover of 3,686.656 million shares, and future contracts surged to 60,531.270 million shares. The indices also rose, with the KSE 100 reaching 40,324.280 and the KSE All Share Index following closely.

December concluded the year on a high note with the highest listed capital of 9,062,902.809 million rupees and a market capitalization of 21,165.662 million rupees. The turnover in the ready market reached its peak at 5,347.305 million shares, with future contracts at 62,451.040 million shares. The indices recorded were 41,916.270 for the KSE 100 and similarly high for the KSE All Share Index.

In January, slight adjustments were observed with a listed capital slightly higher than December at 9,073,759.924 million rupees, though the market capitalization decreased to 11,737.426 million rupees. The turnover of shares in the ready market was 4,167.581 million, and future contracts turnover was 61,979.180 million shares. The KSE 100 Index slightly adjusted to 41,892.680.

February saw a slight increase in listed capital to 9,225,160.480 million rupees, with a decrease in market capitalization to 7,190.089 million rupees. The turnover of shares in the ready market decreased to 2,884.350 million, with future contracts at 64,578.520 million shares. The KSE 100 Index increased to 42,840.890, indicating a positive trend in the KSE All Share Index as well.

Karachi, The Pakistan Stock Exchange (PSE) experienced a varied performance across its indices and market segments on March 20, 2024. The day concluded with mixed movements in the major indices, reflecting slight gains and losses across different sectors.

The Ready Market saw a balanced day with 173 companies advancing, 146 declining, and 23 remaining unchanged out of a total of 342 listed companies. In the Future Market, 148 companies recorded gains, 160 reported losses, and 5 remained unchanged, totaling 313 companies.

Key indices demonstrated varied trends. The KSE30 Index slightly increased by 10.75 points to 21,731.67, representing a 0.05 percent rise. The KSE100 Index saw a more notable increase, adding 229.20 points to close at 65,731.79, up by 0.35 percent. The KSE All Share Index went up by 165.71 points, reaching 43,694.59. However, the KMI30 Index experienced a decrease, closing at 110,589.00 after a drop of 127.94 points. Other indices such as the BKTI and OGTI also showed mixed results, with BKTI rising by 34.44 points and OGTI falling by 69.18 points.

Turnover in the Ready Market reached 341,843,546 shares, up from the previous session, with a traded value of 11,844,306,615 rupees. Future Market turnover was reported at 103,670,000 shares. Market capitalization also saw a slight increase, ending the day at 9,288,960,422,313 rupees.

Significant turnover was noted in companies such as B.O. PunjabXD, WorldCall Telecom, The Organic Meat Co., K-Electric Ltd., and Kohinoor Spinning, among others. B.O. PunjabXD led the volume with a turnover of 45,010,786 shares, closing at 5.28 rupees per share.

Nestle Pakistan Limited stood out with an increase of 90.00 rupees in its stock price, closing at 7,510.00 rupees. On the downside, Rafhan Maize Products Company Limited saw a decrease of 424.49 rupees, closing at 8,575.01 rupees. Other notable movements were observed in the stock prices of Philip Morris (Pakistan) Limited and Siemens (Pakistan) Engineering.

The day's trading activity reflected the dynamic nature of the market, with various sectors showing divergent performance trends.