The State Bank of Pakistan (SBP) has reported a significant boost in the country’s liquid foreign exchange reserves, which surged by $200 million to reach $15.062 billion as of the week ending July 26, 2024. This increase marks a notable improvement from the $14.862 billion recorded the previous week.
(more…)Month: August 2019
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Share market ends down in mixed trading
KARACHI: The share market ended down by 99 points on Thursday in a mixed trading session.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 31,839 points as against 31,938ts showing a decrease of 99 points.
Analysts at Arif Habib Limited said that the market traded in a narrow range with an oscillation between -158 points and +122 points, and ended the session at -99 points. O&GMCs, Cement and Chemicals traded in red most of the session, whereas Steel continued moving upward, carrying the trend from yesterday.
Large cap Banks and Cement contributed mostly to the downside in Index. Cement Sector led the volumes table with 21.6 million shares, followed by Technology (7 million) and Engineering (5.5 million). Among scrips, MLCF topped the chart with 10.6 million shares followed by TRG (5.3 million) and FCCL (4.8 million).
Sectors contributing to the performance include Banks (-38 points), E&P (-15 points), Power (-14ts), Food (-13 points), and Pharmaceuticals (-11 points).
Volumes increase from 70.2mn shares to 70.7mn shares (+0.6 percent DoD). Average traded value decreased by 23 percent to reach US$ 12.6mn as against US$ 16.4mn.
Stocks that contributed significantly to the volumes include MLCF, TRG, FCCL, UNITY and PAEL, which formed 40 percent of total volumes.
Stocks that contributed positively include FCCL (+11 points), POL (+9 points), PKGS (+8 points), APL (+5 points) and FATIMA (+5 points). Stocks that contributed negatively include PPL (-25 points), MCB (-18 points), BAHL (-15 points), FFC (-11 points) and NESTLE (-10 points).
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Rupee gains 18 paisas in interbank market
KARACHI: The Pak Rupee gained 18 paisas against dollar on Thursday owing to improved inflows of foreign remittances and export receipts.
The rupee closed at Rs159.42 to the dollar from previous day’s closing of Rs159.60 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs159.60 and Rs159.68. The market recorded day high of Rs159.60 and low of Rs159.35 and closed at Rs159.42.
The exchange rate in open market also witnessed gain in the rupee value. The buying and selling of dollar was recorded at Rs158.60/Rs159.60 from previous day’s closing of Rs159.00/Rs160.00 in cash ready market.
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