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PSX dip 281 points amid economic concerns

KARACHI: The Pakistan Stock Exchange (PSX) experienced a volatile session on Tuesday amid a dearth of market triggers, the possibility of FATF blacklisting, lack of clarity on rupee depreciation and concerns over surging inflation. On the economic front, the Petroleum Division has sought an increase of up to 200pc in the prices of gas for domestic consumers (expected to take ... Read More »

Gold reaches record high at Rs79,200 per tola

KARACHI: The value of gold in Pakistan has hit a record high, as the per tola price of the yellow metal reached 79,200 on Monday after an increase of Rs600. The price of 10-gram gold also witnessed an increase of Rs1,069 and was traded at Rs68,029. The price of 10-gram gold was recorded at Rs66,958 on Saturday. Go ld prices ... Read More »

KSE-100 loses 700 points amid lack of support fund

KARACHI: The Pakistan stock market dropped over 750 points in intra-day trade on Monday, due to the absence of the market support fund. “Absence of the market support fund turned around the sentiment to negative,” Arif Habib Limited Head of Equity Sales Saad bin Ahmed told media. The Economic Coordination Committee (ECC) of the Cabinet approved the market support fund ... Read More »

Gold hits six-year peak: Local prices surge to Rs78,100 per tola

KARACHI: Domestic one tola and 10 gram gold prices o hit fresh peak of Rs78,100 per tola and Rs66,958 per 10 grams, respectively, as international bullion prices surpassed $1,400 before retreating, still holding near a six-year high on the US central bank’s dovish stance on monetary policy. Locally, gold prices saw a surge of Rs800 per told and Rs686 per ... Read More »

Pak Rupee gains 13 paisas against dollar

KARACHI: The Pak Rupee gained 13 paisas against dollar on Friday owing to improved inflows of remittances and lower demand for import payments. The rupee ended Rs156.83 to the dollar from previous day’s closing of Rs156.96 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs156.80 and Rs156.90. The market recorded day high of ... Read More »

Gold hits new peak of Rs77,300

KARACHI: Local gold prices touched an all-time high of Rs77,300 and Rs66,272 per tola and 10-gram, respectively, after international rates soared to five-year peak on Thursday. The yellow metal surged to $1,386.42 per ounce before settling at $1,383.04 gaining $28 per ounce in the intraday trade — the highest since March 2014 triggered by a sharp decline in the dollar. ... Read More »

KSE-100 snaps three-day losing streak, gains 340 points

KARACHI: After a three-day bearish spell, the stock market turned bullish on Thursday and finished trading with a significant rise of 340 points as investors cherry-picked stocks. Positivity in the market was led by news of a modest contraction in the current account deficit. In its report, Aba Ali Habib Securities stated investors’ confidence was boosted following both sides in ... Read More »

PSX ends flat amid uncertainty on budget approval

KARACHI: The stock market ended flat on Wednesday amid uncertainty on approval of the federal budget 2019/2020. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 34,656 points from previous day’s closing of 34,682 points, losing 26 points. Analysts at Topline Securities said that during the trading session index depicted a flattish trend closing in at 34,656 points ... Read More »

Pak Rupee weakens by 16 paisas on import payments

KARACHI: The Pak Rupee weakened by 16 paisas against dollar on Wednesday owing to higher demand for import and corporate payments. The rupee ended Rs156.97 to the dollar from previous day’s closing of Rs156.81 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs156.85 and Rs156.95. The marked recorded day high of Rs157.00 and ... Read More »

KSE-100 sheds another 487 points due to bearish sentiments

KARACHI: Continuing with the recent declining trend, the Pakistan Stock Exchange (PSX) ended the session on Tuesday in the red. Indices drove in reverse direction from the word go while the volumes sank further. Foreign investors closed as net sellers on Monday with a net outflow of $2.13 million. On the economic front, Pakistan signed three loan agreements worth a ... Read More »

PSX slips 404 points as four-day winning streak ends

KARACHI: The four-day winning streak came to an end as the stock market succumbed to selling pressure and dropped to finish in the red zone. Following a volatile opening, the KSE-100 index maintained a downward trend making an intra-day low of 462 points. Investors resorted to booking profits on post budget uncertainty and lack of institutional support. Participants also awaited ... Read More »

SBP will intervene in case of excess volatility: Governor Raza Baqir

KARACHI: State Bank of Pakistan (SBP) Governor Reza Baqir while addressing a press conference on Monday expressed confidence in the country’s economic future, and provided assurance that the “two main causes of our instability are being effectively addressed in a credible manner”. Baqir’s press conference comes days after the budget was presented in the National Assembly. In the days leading ... Read More »

Pak Rupee falls further as dollar hits 157 in interbank trade

KARACHI: The Pakistani currency maintained its downturn for a seventh straight session, hitting a low of over Rs157 against the US dollar in the interbank market on Monday. Since the morning, it moved both ways within a range of Rs156.50 to Rs 157.07. Latest updates showed the rupee stood at Rs156.96, up by Rs1.12 from Friday’s closing rate of Rs155.84. ... Read More »

US dollar continues its upward trajectory against Pakistan rupee

KARACHI: The start of the trading week saw the US dollar continue to gain strength against the Pakistani rupee. The US dollar weakened by Rs1.16 against the Pakistani rupee in the interbank market on Monday to be traded at Rs157. However, the US dollar decreased in the open market by Rs0.80 to be traded at Rs156.70 During last week, the ... Read More »

Dollar weekly gained by Rs7.24 in interbank market

KARACHI: The price of dollar in the interbank market rose by Rs7.24 during the week. In the business week, dollar reached its peak rate at Rs156. The US dollar rose by Rs2.94 in the interbank market to reach Rs155.84. In interbank market, Euro gained by Rs9.54, reaching Rs175.61. As for Pound Sterling, it was of Rs 197.03 by gaining Rs9.11. ... Read More »

Dollar hits historical high at Rs157 intraday in interbank market

KARACHI: The value of the US dollar against the rupee touched another all-time high for the second consecutive day, reaching approximately Rs157 in the interbank market during intraday trading on Friday. The greenback was being traded at about Rs156.50 in the open market. In the last two days, the local currency has lost Rs5 against the dollar setting a new ... Read More »

US dollar continues to rise, reaches Rs155 in open market

KARACHI: The US dollar continued its upward trajectory against the Pakistani rupee on Friday. In the open market, the dollar increased by Rs2.50 to reach Rs155. The US dollar rose by Rs2.25 in the interbank market to reach Rs155.15. On Thursday, the Pakistani rupee continued to weaken against the US dollar, shedding Rs1.33 in the interbank market. Following the rise ... Read More »

PSX gains 465 points on buying activities

KARACHI: The stock market gained 465 points on Thursday as buying activities remained dominant during the day on positive sentiments. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,403 points as against 34,660 points showing an increase of 465 points. Sectors contributing to the performance include Fertilizer (+110 points), Banks (+86 points), Cement (+72 points), Power (+54 ... Read More »

Dollar gains Re1 to reach Rs153 in open market

KARACHI: The value of the US dollar against the rupee continued to strengthen, with the greenback reaching Rs153 in the open market on Thursday afternoon. The US dollar climbed Re1 each in the interbank and the open market. Its value strengthened to Rs152.95 in the interbank market. Currency dealers held the financial year end responsible for the situation. According to ... Read More »

PSX appoints Rafique Umer as acting CEO

KARACHI: The Board of Directors (BoD) of the Pakistan Stock Exchange (PSX) has appointed Muhammad Rafique Umer as the acting chief executive officer of the PSX. A notice signed by the PSX Chairman Sulaiman Mehdi on Wednesday stated that following acceptance of Morin’s resignation dated May 28, the board had “with due concurrence of the Securities and Exchange Commission of ... Read More »