Morning Market Brief 27th April 2022

Technical Overview

The Benchmark KSE100 index have failed to create confirmation of its daily morning star during last session and closed after sliding in downward direction. As of now it's expected that index would show some volatile moves and would try to amend its previous low of 45,500pts if it would not succeed in maintaining above 45700pts. This time major supportive region fall at 45,200pts and 45,000pts from where index would start a sharp reversal if it slide below 45,450pts. Overall it seems that index would take a spike either during current trading session or the next one and would try to target its initial resistant region of 46,200pts. Overall sentiment would remain bullish as long as index is trading above 45,450pts.

N.Korea displays ICBMs at huge parade, vows to boost nuclear arsenal

North Korea will speed up development of its nuclear arsenal, leader Kim Jong Un said while overseeing a huge military parade that displayed intercontinental ballistic missiles and other weapons, state media reported on Tuesday.The parade occurred Monday night during celebrations for the founding anniversary of North Korea's armed forces, state news agency KCNA said. It comes as Pyongyang has stepped up weapons tests and displays of military power amid stalled denuclearisation talks with the United States and an incoming conservative administration in South Korea.U.S. and South Korean officials say there are signs of new construction at North Korea's only known nuclear test site, which has been officially shuttered since 2018, suggesting Pyongyang may be preparing to resume testing nuclear weapons.Read More...

Business News

Five-Week Training Of Civil Judges Ends At KPJA

Pre-service training (PST) of five weeks for the 1st batch of the newly-appointed civil judges/judicial magistrates/Ilaqa Qazis concluded at Khyber Pakhtunkhwa Judicial Academy Peshawar (KPJA).Chief Justice Peshawar High Court (PHC) Justice Qaiser Rashid, who is also chairman of KPJA, graced the occasion as the chief guest. The concluding ceremony was also attended by the Registrar PHC and Principal Officers of PHC, Faculty of Khyber Pakhtunkhwa Judicial Academy and parents of the trainee judges.The DG KPJA in her address felicitated the trainees on the successful completion of the 5-week training. She highlighted that 5 weeks training course devised by the Academy would go a long way in capacity building of the trainee judges.Read More...

Secy Power Division Goes On Ex-Pakistan Leave

Secretary Power Division Syed Asif Hyder Shah has gone on ex-Pakistan leave allegedly of the pressure from the incumbent government.The secretary was allegedly facing severe pressure from the incumbent government over the ongoing power crisis in the country, official source told The Nation.“Syed Asif Hyder Shah, a BS-22, officer of Pakistan Administrative Service, presently awaiting posting on Establishment Division, is granted 21 days leave on full pay (Ex-Pakistan) from the date of availing,” said a notification issued by the Establishment Division.Secretary Power was replaced by Rashid Mahmood, an officer of Pakistan Administrative Service. The government on Monday transferred and posted Rashid Mahmood, a BS-21 officer of Pakistan Administrative Service, posted as Chief Secretary Government of Gilgit-Baltistan as Additional Secretary (Incharge), Power Division.Read More...

State Land Worth Rs72m Retrieved

In compliance with the directions of Punjab Ombudsman Maj (R) Azam Suleman Khan, the administration has retrieved two-kanal state land worth Rs72 million from squatters in the graveyard of Sattu Katla area of the provincial metropolis.A spokesman for the office of ombudsman Punjab said here on Tuesday that administrations concerned of Gujrat and Gujranwala sealed five illegal mini petrol pumps in Sarai Alamgir., while shops involved in illegal decanting of LPG cylinders in Tattle Aali area of Gujranwala had been shutdown along with confiscation of equipments.Read More...

Ground ready for another interest rate hike

he Karachi Inter-Bank Offered Rate (Kibor) on Tuesday reached a 13-year high at 14.1 per cent, reflecting the growing pressure for another interest rate hike to counter a number of factors already challenging the current policy rate.Sources in the financial sector said several factors have collectively made ground for another interest rate hike in the coming days or weeks.Analysts said the cut-off yields on six-months treasury bills (T-bills) are already 160 basis points ahead of the policy interest rate. In the previous auction, six-month T-bills were sold at 13.85pc.Read More...