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Author: Faisal Shahnawaz

  • Stocks gain 35 points amid profit taking

    Stocks gain 35 points amid profit taking

    KARACHI: The stocks gained 35 points on Wednesday amid across the board profit taking observed during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,916 points as against previous day’s closing of 45,881 points, showing an increase of 35 points.

    READ MORE: Rupee strengthens by 40 paisas to dollar in interbank

    Analysts at Arif Habib Limited said that the market opened on a positive note today and managed to remain positive during the day.

    Index went up to 339 points and closed 35.12 points although activity remained ranged bound today with sluggish activity and profit taking was witnessed once again today across the board. However, market witnessed good volumes in 3rd tier Stocks.

    READ MORE: SBP to issue Rs100 coin on UET’s 100th anniversary

    Although activity continued to remain sideways as foreign flows in banking sector was expected.

    Sectors contributing to the performance include E&P (+53.4 points), Fertilizer (+21.1 points), Textile Composite (+10.6 points), Power (+10.1 points) and Inv. Banks (+5.4 points).

    READ MORE: Today’s currency exchange rates in PKR – Jan 12, 2022

    Volumes increased from 339.1 million shares to 514.4 million shares (+51.7 per cent DoD). Traded value also increased by 8.8 per cent to reach US$ 60.2 million as against US$ 55.3 million.

    Stocks that contributed significantly to the volumes include WTL, UNITYR3, HASCOL, CNERGY and TELE.

  • Rupee strengthens by 40 paisas to dollar in interbank

    Rupee strengthens by 40 paisas to dollar in interbank

    KARACHI: The Pak Rupee (PKR) strengthened by 40 paisas against the dollar on Wednesday in interbank foreign exchange market. The rupee ended Rs176.23 to the dollar from previous day’s closing of Rs176.63 in the interbank foreign exchange market.

    It was second consecutive day when the rupee made gain. The local currency recovered around 45 paisas during the past two days.

    Currency experts said that positive sentiments were prevailed during the day that helped the local unit to make gain. They said that the mandatory requirement of realizing export receipts helped inflows in the market.

    The State Bank of Pakistan (SBP) on January 05, 2022 issued directives to realize their export receipts within 120 days from date of shipment instead 150 days.

    The experts however said that the falling foreign exchange reserves big challenge for the rupee stability in coming days.

    The official foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $170 million to $17.686 billion by week ended December 31, 2021 as compared with $17.856 billion a week ago.

    Dollar falls five paisas against PKR in interbank
  • SBP issues KIBOR rates on January 12, 2022

    SBP issues KIBOR rates on January 12, 2022

    KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as of January 12, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.7010.20
    2 – Week9.7610.26
    1 – Month9.8410.34
    3 – Month10.2110.46
    6 – Month11.2111.46
    9 – Month11.2611.76
    1 – Year11.3111.81
    SBP issues KIBOR rates on January 11, 2022
  • SBP to issue Rs100 coin on UET’s 100th anniversary

    SBP to issue Rs100 coin on UET’s 100th anniversary

    To mark the 100th Anniversary of establishment of University of Engineering & Technology (UET), Lahore, the Government of Pakistan has decided to issue a commemorative coin of Rs.100.

    (more…)
  • Customers’ exchange rates on January 12, 2022

    Customers’ exchange rates on January 12, 2022

    Karachi, Pakistan – On Wednesday, the State Bank of Pakistan (SBP) released the official exchange rates for January 12, 2022, providing customers with valuable information based on the weighted average rates of commercial banks.

    (more…)
  • Bitcoin to Pak Rupee on January 12, 2022

    Bitcoin to Pak Rupee on January 12, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs7,550,820.36 on January 12, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,555,926.61 on January 11, 2022.

    The rate of Bitcoin in US Dollar (USD) is $42,744.53 on January 12, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $42,773.89 on January 11, 2022.

    Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Bitcoin to Pak Rupee on January 11, 2022
  • Ripple to Pak Rupee on January 12, 2022

    Ripple to Pak Rupee on January 12, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs135.74 on January 12, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs135.74 on January 11, 2022.

    The rate of Ripple in US Dollar (USD) is $0.76 on January 12, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.77 on January 11, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Ripple to Pak Rupee on January 11, 2022
  • Dogecoin to Pak Rupee on January 12, 2022

    Dogecoin to Pak Rupee on January 12, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs27.30 on January 12, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs26.82 on January 11, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.15 on January 12, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.15 on January 11, 2022.

    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

    Dogecoin to Pak Rupee on January 11, 2022
  • SBP issues KIBOR rates on January 11, 2022

    SBP issues KIBOR rates on January 11, 2022

    KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as of January 11, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.7310.23
    2 – Week9.7710.27
    1 – Month9.8410.34
    3 – Month10.2310.48
    6 – Month11.2211.47
    9 – Month11.2511.75
    1 – Year11.3011.80
    SBP issues KIBOR rates on January 10, 2022
  • Stocks remain volatile amid rising Omicron cases

    Stocks remain volatile amid rising Omicron cases

    KARACHI: The stocks observed volatile trading on Tuesday owing to surge in the cases of Omicron – the new variant of COVID-19.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,881.1 points as against previous day’s closing of 45,887.6 points, showing a decrease of 6.5 points.

    READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

    Analysts at Arif Habib Limited said that the market remained volatile today due to rapid surge in the Covid-19 cases as within the past 10 days positivity rate has jumped from 1.08 percent to 3.66 percent showing an increase of 338.9 percent since the start of the New Year.

    READ MORE: Headline inflation rises by 12.3% in December 2021

    Profit taking was witnessed across the board. However, rally in banking sector was observed due to the expectation of foreign inflows. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

    Sectors contributing to the performance include Cement (-31 points), E&P (-28 points), Technology & Communication (-20 points), Power (-10 points) and Tobacco (-10 points).

    READ MORE: Tax exemptions worth Rs343 billion withdrawn through mini-budget

    Volumes decreased from 356.9 million shares to 339.1 million shares (-5.0 per cent DoD). Traded value also decreased by 17.9 per cent to reach US$ 55.2 million as against US$ 67.2 million.

    Stocks that contributed significantly to the volumes include WTL, HASCOL, UNITYR3, TRG and HUMNL.

    READ MORE: Retail price of sugar may be abolished for sales tax