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PSX sinks below 41,000 amid political uncertainty

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  • KSE-100 sheds over 300 points as bears resort to stock selling.
  • Depreciation of rupee further dented investor interest.
  • Decent volumes were observed on the mainboard.

Pakistan Stock Exchange (PSX) on Monday lost ground in the face of political uncertainty that grew with the Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s announcement to dissolve Punjab and Khyber Pakhtunkhwa assemblies on December 23.

The benchmark KSE-100 index shed over 300 points as bears resorted to stock selling due to emerging political developments.

The market came under selling pressure, which persisted throughout the trading session, dragging the index below the 41,000- point mark. Depreciation of the rupee against the US dollar further dented investor interest.

Earlier, the session kicked off on a positive note, however, the market dipped within an hour of trade. It remained under selling pressure, touching an intra-day low of 40,814.95 points.

At close, the benchmark KSE-100 index recorded a decrease of 330.66 points, or 0.80%, to settle at 40,970.82.

Arif Habib Limited, in its post-market commentary, noted that the week started on a negative note at the PSX due to the ongoing political uncertainty, which kept investors squaring up their position in the market, with the index shedding 486.53 points during the intraday.

Decent volumes were observed on the mainboard although third-tier stocks remained in the spotlight.

Sectors contributing to the performance included power generation and distribution (-53.5 points), fertiliser (-51.5 points), technology and communication (-51.5 points), exploration and production (-47.1 points), automobile assembler (-33.7 points).

Shares of 317 companies were traded during the session. At the close of trading, 82 scrips closed in the green, 220 in the red, and 15 remained unchanged.

Overall trading volumes rose to 142.57 million shares compared with Friday’s tally of 139.65 million. The value of shares traded during the day was Rs3.81 billion.

Bank AlFalah was the volume leader with 29.01 million shares traded, losing Rs0.07 to close at Rs30.68. It was followed by WorldCall Telecom Limited with 12.44 million shares traded, losing Rs0.04 to close at Rs1.23 and Hascol Petrol with 9.45 million shares losing Rs0.71 to close at Rs6.09.

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In January 2025, RDA inflows reach 9.564 billion USD.

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Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

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FBR lowers Karachi’s built-up structure property valuation rates

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A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.

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Remittances Increase 25.2% in January 2025: $3.0 Billion Inflow

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Remittances from Pakistani workers totalled US$3.0 billion in January 2025, representing a 25.2% increase from the previous year.

The cumulative remittances for July through January of FY25 were 20.8 billion dollars, up 31.7 percent from 15.8 billion dollars during the same period in FY24.

In January 2025, the United States of America contributed 298.5 million dollars, the United Kingdom contributed 443.6 million dollars, the United Arab Emirates contributed 621.7 million dollars, and Saudi Arabia contributed 728.3 million dollars.

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