KSE in a limbo:  Lack of catalysts and a number of uncertainties means market remains range bound.

COVID-19  & the Delta variant still a growing concern though low death rate offers hope.

Pak Rupee depreciation is a headwind for importers

 Reporting season could reflect a better reality given economic activity not stalled as much as feared

KASB Market View

  Growing concerns about delta variant and possible lockdown

Continue recommending building positions in cyclical stocks such as Cement, Textile and Automobile sector which can grow despite uncertainties

National News

Sindh reports 44 Covid-19 deaths as situation continues to worsen

Sindh’s Covid-19 situation continued to worsen as another 44 deaths occurred due to the coronavirus, surpassing the number reported on Wednesday, which was already one of the highest in the province

https://www.brecorder.com/news/40109907/sindh-reports-44-covid-19-deaths-as-situation-continues-to-worsen

Gold price increases by Rs950 to Rs110,500 per tola

ISLAMABAD: The price of 24 karat per tola gold increased by Rs950 and was sold at Rs110,500 on Thursday against its sale at Rs109,550, Karachi Sarafa and Jewellers Group reported.

https://www.brecorder.com/news/40109890/gold-price-increases-by-rs950-to-rs110500-per-tola

Pakistan’s construction sector attracts Rs 1 trillion investment: Farrukh Habib

Minister of State for Information and Broadcasting Farrukh Habib said on Thursday that there had been a massive increase in economic activity in the country due to the revival of the construction sector, which has so far fetched investment of Rs1 trillion.

https://www.brecorder.com/news/40109891/pakistans-construction-sector-attracts-rs-1-trillion-investment-farrukh-habib

Pakistan’s foreign exchange reserves fall to $24.875 billion

Total liquid foreign reserves held by Pakistan stood at $24.875 billion during the week ending on July 23, 2021, according to data released on Thursday by the State Bank of Pakistan (SBP).

https://www.brecorder.com/news/40109900/pakistans-foreign-exchange-reserves-fall-to-24875-billion

3,179 ongoing schemes

LAHORE: The Punjab Finance Department (FD) has released Rs131 billion for the completion of 3,179 approved ongoing development schemes included in the Annual Development Program (ADP) for fiscal year of 2021-22.

https://epaper.brecorder.com/2021/07/30/11-page/895150-news.html

Pakistan to start assembling local EVs this year

ISLAMABAD: Under the clean and green initiatives of the government, Pakistan is going to start local assembling of electric vehicles (EVs) by this year, Minister for Energy Hammad Azhar said on Thursday.

https://www.thenews.com.pk/print/870699-pakistan-to-start-assembling-local-evs-this-year

FBR enhances tax demands to Rs2.6tr from major revenue sectors

ISLAMABAD: The Federal Board of Revenue (FBR) has generated tax demands of Rs2.6 trillion from conducting audits of 18 major revenue spinner sectors, out of which it raised tax demand of Rs650 billion only from the politically-connected sugar sector.

https://www.thenews.com.pk/print/870697-fbr-enhances-tax-demands-to-rs2-6tr-from-major-revenue-sectors

Pakistan purchases four LNG cargoes at highest-ever prices since 2015

ISLAMABAD: The government has procured four liquefied natural gas (LNG) cargoes at the highest-ever rates at $15.19-$15.49 per mmBtu for the month of September. The state-owned Pakistan LNG Limited (PLL) first cancelled the tender of eight cargoes for September and October, arguing that the rates were higher at $13.78 per mmBtu, but now it has procured four cargoes at the highest-ever rates.

https://www.thenews.com.pk/print/870696-pakistan-purchases-four-lng-cargoes-at-highest-ever-prices-since-2015