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Pak rupee further depreciates by 64 paisa, hit Rs160.50 against dollar

KARACHI: The Pakistani currency on the back of deteriorating macroeconomic indicators, continue to lose ground and cumulatively depreciate against the US dollar. The rupee further lost its value by 64 paisa against the US dollar and hit Rs160.50 in the interbank market at the early trade hours on Tuesday. Within just two days, the rupee lost its value against the ... Read More »

Gold price soars by Rs 1000, traded at Rs82,600 per tola

LAHORE: The per tola price of 24 karat gold soared by Rs1000 and was traded at Rs82,600 as compared to the last closing at Rs 81,600. According to the Karachi Sarafa Association, the price of 10-gram gold also witnessed an increase of Rs 858 and was traded at Rs 70,800 against Rs 69,942. The price of silver remained constant and ... Read More »

Pakistan Stock Exchange plunges on policy rate uncertainty

KARACHI: The stock market plunged by 714 points on Monday owing to uncertainty on monetary policy that is scheduled to be announced tomorrow. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,958 points as against 33,672 points showing a decline of 714 points. Analysts at Arif Habib Limited said that the market witnessed a significant decline of ... Read More »

US dollar gains Rs1.11 in interbank market

KARACHI: The US dollar gained Rs1.21 against the Pakistani rupee in the interbank market on Monday. With the increase, the US dollar was being sold at Rs160 in the interbank market. The US dollar also witnessed an increase of Rs0.75 in the open market where it was being sold at Rs160.50. Last week, Pakistan received the first tranche of a ... Read More »

PSX likely to remain range bound due to announcement of monetary policy next week

KARACHI: The stock market to remain range bound next week. Investors are expected to have a cautious stance keeping in view monetary policy announcement on July 16, 2019, analysts at Arif Habib Limited said. The analysts said that the State Bank of Pakistan (SBP) may increase a 100 basis points in view of aggravating inflationary pressure. The benchmark KSE-100 index ... Read More »

PSX ends down by 203 points on lack of investor’s confidence

KARACHI: The stock market ended down by 203 points on Friday due to lack of investors confidence. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,672 points as against 33,875 points showing a decline of 203 points. Analysts at Arif Habib Limited said that the market remained lackluster today, following the trend seen in recent past sessions. ... Read More »

KSE-100 of PSX gains 35 points amid low volumes

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 35 points on Thursday to close at 33,875 points as against previous day’s 33,840 points. Analysts at Arif Habib Limited said that KSE-100 index has been on a losing streak with continuous slide in both volume and index level. Yesterday, the volumes reached an 8-yr low of 40 million, ... Read More »

Pak Rupee depreciates by 61 paisas against dollar

KARACHI: The Pak Rupee ended down by 61 paisas on Thursday owing to demand for import and corporate payments. The rupee closed at Rs158.49 to the dollar as compared with previous day’s closing of Rs157.88 in interbank foreign exchange market. The foreign currency market was initiated at Rs158.40 and Rs158.70 in interbank foreign exchange market. The market recorded day high ... Read More »

Gold price surges to Rs80,900 per tola

KARACHI: The gold market witnessed another price swing at Rs80,900 per tola (11.66 grams) on Wednesday, following a surge in prices of the precious metal in international market, ahead of US policy rate adjustment. All Sindh Saraf and Jewellers Association (ASSJA) announced the increase after gold price shot up approximately $15 to $1,410 per ounce in the international market. The ... Read More »

KSE-100 closes flat amid volatile trading

KARACHI: Amidst volatile trading and thin market participation, the Pakistan Stock Exchange (PSX) closed Wednesday’s session flat. Foreign investors closed the previous session as net buyers with a net inflow of $1.68. As per the State Bank of Pakistan’s data, overseas Pakistanis remitted $1.65 billion in the month of June 2019 as compared to $2.32 billion in the preceding month, ... Read More »

Pak Rupee falls by 50 paisas despite IMF first tranche

KARACHI: The Pak Rupee ended down by 50 paisas against dollar on Wednesday despite a tranche of $991.4 million received under IMF loan program. The rupee closed at Rs157.88 to the dollar from previous day’s closing of Rs157.38 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs157.45 and Rs157.65. The market recorded day ... Read More »

Pakistan Stock Exchange gains 113 points amid low volumes

KARACHI: The stock market gained 113 points on Tuesday amid low volume and selling pressure. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,856 points as against 33,743 points showing an increase of 113 points. Analysts at Arif Habib Limited said that the market went up today by 308 points but unable sustain the selling pressure and ... Read More »

Pak Rupee ends down by six paisas against dollar

KARACHI: The Pak Rupee ended down by six paisas against dollar on Tuesday due to higher demand for import and corporate payments. The rupee ended Rs157.38 to the dollar from previous day’s closing of Rs157.32 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs157.50 and Rs157.75 against the dollar. The market recorded day ... Read More »

KSE-100 loses nearly 450 points on investor concerns

KARACHI: Marking a poor start to the week, the benchmark KSE-100 index fell on Monday as investors grew more concerned that economic slowdown in the country would be longer than expected. The market opened upwards but the uptrend lost momentum soon with mounting selling pressure as the opposition’s anti-government campaign drove the market down in later hours. Concern over the ... Read More »

Dollar gains 40 paisa in interbank, closes at Rs157.32

ISLAMABAD: The exchange rate of dollar soared by 40 paisa in interbank and was traded at Rs157.32 as compared to the last closing at Rs156.92, State Bank of Pakistan (SBP) reported on Monday. However according to Forex association of Pakistan the buying and selling rates of dollar in open market were recorded at Rs156.50 and Rs157.50. The SBP further reported ... Read More »

Pakistan Stock Exchange likely to stay positive during upcoming week

KARACHI: Pakistan Stock Exchange (PSX) likely to remain positive in upcoming week owing to IMF package approval and appreciation in Pak Rupee value. Analyst at Arif Habib Limited said that the market to remain positive in the upcoming week in lieu of the IMF package approval and recent appreciation of PKR against green back which will lift investors sentiments. However, ... Read More »

KSE-100 sheds another 380 points

KARACHI: Bearish sentiments surrounded the Pakistan Stock Exchange (PSX) on the last trading session of the week, as indices bled all day long amid low market turnover. Foreign investors, on the other hand, turned out as net buyers on Thursday with a net inflow of $2.95 million. According to the latest data released by the State Bank of Pakistan, foreign ... Read More »

Pakistan Stock Exchange plunges despite IMF loan approval

KARACHI: The share market ended down on Thursday despite positive outcome of loan approval by IMF for Pakistan. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,570 points as against 34,897 points showing a decline of 326 points. Analysts at Arif Habib Limited said that ‘buy the rumor, sell the news’ proved true again today, when yesterday’s ... Read More »

Hubco raises Rs7b through right shares

KARACHI: The largest independent power producer of Pakistan, Hub Power Company Limited (HUBCO) has issued right shares and raised an amount of Rs7 billion from Pakistan Stock Exchange (PSX), a statement said on Thursday. The Right Share is priced at Rs50 per share and the company has issued 140 million shares, as decided by the Board of Directors of Hubco. ... Read More »

PSX gains 589 points on successful IMF deal expectations

KARACHI: The stock market gained 589 points on Wednesday on positive expectations of IMF deal conclusion. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,897 points as against 34,307 points showing an increase of 589 points. Analysts at Arif Habib Limited said that KSE-100 index increased again by around 631 points during the session that was contributed ... Read More »