AKD Islamic Daily Dividend Fund Announces Dividend Distribution for January 25, 2024Pakistan Stock Exchange Experiences Mixed Movements in Key Indices

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Karachi, AKD Investment Management Limited has declared a daily dividend distribution for the AKD Islamic Daily Dividend Fund (AKDIDDF) on January 25, 2024. This announcement was made by the Chief Executive on behalf of the Board of Directors of the investment management company.

The dividend, set at Re. 0.0252 per unit, will be distributed to the unit holders who were registered in the unit holder register at the close of January 25, 2024. This distribution marks a significant event for the investors of AKDIDDF, reflecting the fund’s performance and the company’s commitment to providing regular returns to its investors.

This decision underscores AKD Investment Management Limited’s dedication to adhering to its dividend distribution policies and maintaining a consistent reward system for its stakeholders.

Karachi, The Pakistan Stock Exchange (PSE) reported a mixed performance in its latest market report for January 26, 2024. The report highlighted key figures across various sectors, reflecting the dynamic nature of the market.

In the main board, the number of listed companies stood at 524 with a listed paid-up capital of 1,669,727 million. The market capitalisation was reported at 9,359,225,920,149, showcasing the vast scale of the exchange. The traded volume for the day was substantial, amounting to 412,823,322, with a traded value of 16,185,873,014. Among the companies, 99 advanced, 221 declined, and 22 remained neutral, out of a total of 342 companies.

In the realm of debt securities, the PSE listed 13 publicly issued debt securities with a total issue size of 70,000,000,000. There were also 23 privately placed debt securities, commanding a total issue size of 513,013,300,000. Additionally, the market reported 8 listed open-end mutual funds.

The stock exchange’s indices showed varied movements. The KSE-100 index fell by 484.95 points, a 0.75% decrease, closing at 63,813.06. The KSE-All Shares index also experienced a drop of 169.32 points or 0.39%, ending at 43,213.11. Similarly, the KSE-30 index decreased by 164.61 points, a 0.76% decline, finishing at 21,534.17.

The KMI-30 index saw a decrease of 615.46 points, a 0.57% fall, closing at 108,080.89. The BKTi and ACI indices also reported losses of 1.06% and 0.76%, respectively. In contrast, the OGTi index was an outlier with an increase of 81.85 points, marking a growth of 0.49%.

Other indices like the PSX-KMI-All-Shares, PSXDIV20, UPP9, NITPGI, NBPPGI, MZNPI, JSMFI, and JSGBKTI all reported declines, ranging from 0.31% to 1.26%. The HBLTTI, however, recorded a marginal increase of 0.08%.

The day’s trading reflected the ongoing volatility and varied performance across different sectors of the Pakistan Stock Exchange.