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PSX register highest weekly gain in a decade after record losses over rupee fluctuation

KARACHI: The benchmark index of the Pakistan Stock Exchange gained 2,537 points during the outgoing week, recovering by 7.5% since fluctuations in the exchange rate and economic uncertainty wreaked havoc in the financial markets. The benchmark KSE-100 index closed the outgoing week at 35,703 points, gaining Rs 400 billion in share values and market capitalisation reaching Rs7,200 billion. The outgoing ... Read More »

PSX gains 123 points amid selling activity

KARACHI: The stock market ended with gain of 123 points on Friday despite selling activity observed at the end of the trading. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,704 points as against 35,581 points showing an increase of 123 points. Analysts at Arif Habib Limited said that the market opened on a positive note today ... Read More »

Pak Rupee recovers another 25 paisas against dollar

KARACHI: The Pak Rupee gained another 25 paisas against dollar for second day on Friday after witnessing massive deterioration during past nine days. The rupee ended Rs151.20 to the dollar from previous day’s closing of Rs151.45 in interbank foreign exchange market. The foreign exchange market was initiated in the range of Rs151.30 and Rs151.50. The market recorded day high o ... Read More »

PSX makes another 944-point gain on positive sentiments

KARACHI: The equity market gainedanother 944 points on Thursday on positive sentiments prevailed on back of state enterprise fund. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,581 points as against 34,637 points showing an increase of 944 points. Analysts at Arif Habib Limited said that it was the third session that KSE100 traded in green and ... Read More »

US dollar slips to 152.50 against Pakistani rupee in open market

KARACHI: The Pakistani rupee registered slight gains against the US dollar in the open market for a second consecutive day on Thursday, recovering after hitting record lows against the greenback earlier this week. The dollar decreased by Rs0.50 from Rs153 in the open market and was being traded at Rs152.50. Meanwhile, in the interbank market, the greenback also while dipped ... Read More »

Pakistan stock market gains over 1,100 points

KARACHI: After days of volatile trading, the Pakistan Stock Exchange (PSX) made a much-needed recovery on Wednesday and gained over 1,000 points. The rise was attributed to reports that the government is mulling the establishment of a market support fund in order to stabilise the exchange. Moreover, as per media reports, a positive response is expected from the Financial Action ... Read More »

Pakistani rupee registers slight gains against US dollar

KARACHI: Pakistan’s rupee registered slight gains against the US dollar on Wednesday. The price of the dollar decreased by Rs0.32 to Rs151.60 in the interbank market, while in the open market it decreased by Rs0.50 to trade at Rs153.50. The rupee reached a record low of Rs151.92 in the interbank market a day earlier to continue a slide that saw ... Read More »

Pakistan Stock Exchange gains 192 points on positive sentiments

KARACHI: The stock market ended with gain on Tuesday continuing the positive sentiments for second consecutive day. The benchmark KSE-100 index closed at 34,442 points as compared with previous day’s closing of 33,250 points with gain 192 points. Analysts at Topline Securities said that second consecutive session closed in positive trajectory, as bourse gained 192 points (0.57 percent), closing at ... Read More »

US dollar rises Rs9.60 in four business days

KARACHI: The US dollar continues its steep incline in Pakistan, reaching a new all-time high in the interbank and open market on Tuesday. With an increase of Rs1.36, the dollar reached Rs151. In the open market, the rate increased to Rs153. In the last four business days, the dollar has risen by Rs9.60 against the Pakistani rupee. The rupee has ... Read More »

Pakistan Stock Exchange gains 84 points after early day losses

KARACHI: The stock market ended with gain of 84 points after recovery from massive loss earlier in the day on Monday. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,250 points as against 33,166 points showing an increase of +84 points Analysts at Arif Habib Limited said that KSE-100 index showed first signs of recovery and that ... Read More »

Dollar reaches Rs152 in open market

KARACHI: The US dollar reached a new record high of Rs152 in the open market on Monday, as the rupee continued its downward spiral following an agreement with the International Monetary Fund. The dollar also saw an increase in the interbank of Rs149.65. On Friday, the dollar reached Rs150, was at Rs147 on Thursday and Rs144 on Wednesday. The rupee ... Read More »

Due to massive selling pressure, PSX index drops over 780 pts

KARACHI: The Pakistan stock market came under massive selling pressure, as it dropped over 780 points to a 38-month low of 32,385 in intra-day trading on Monday. Market analysts said investors extended selling on expectation for key interest rate hike by 100-200 basis points on Monday. The government is set to aggressively increase interest rate under the IMF loan programme. ... Read More »

Dollar reaches Rs151 in open market

KARACHI: The US dollar reached a new record high of Rs151 in the open market on Monday morning, as the rupee continued its downward spiral following an agreement with the International Monetary Fund. The dollar also saw an increase in the interbank of Rs0.93 to Rs148.80. On Friday, the dollar reached Rs150, was at Rs147 on Thursday and Rs144 on ... Read More »

Pak Rupee falls by 4.58pc against dollar in a week

KARACHI: The Pak rupee fell by 4.58 percent against dollar during the last week in interbank foreign exchange market. The fall mainly attributed to IMF loan program which was recently agreed by Pakistan. The dollar reached to record high by end of last weekly trading day on Friday. The interbank foreign exchange market ended Rs148.00 to a dollar. The country ... Read More »

PSX team calls on Hafeez Sheikh amid depressed market sentiment

KARACHI: A delegation of leading businessmen and brokers here on Friday held a meeting with Adviser to Prime Minister on Finance Dr Abdul Hafeez Sheikh and discussed overall macro-economic situation and its impact on capital markets in the country. The delegation, comprising Chairman Pakistan Stock Exchange (PSX) Sulaiman Mehdi, Bashir Jan Mohammad, Arif Habib, Aqeel Karim Dhedhi and Ali Jamil, ... Read More »

KSE-100 falls over 800 points during trading

KARACHI: The benchmark KSE-100 of the Pakistan Stock Exchange on Friday was on a bearish trajectory after the dollar increased in the market. The KSE-100 fell 804.50 points with the index at 33,166.62 points. The US dollar touched a new record high of Rs149 in the interbank market and RS150 in the open market as the rupee continued to slide ... Read More »

Rupee slides further to Rs150 against USD; stock market down 2.4pc in intra-day trade

KARACHI: The rupee continued to fall to record lows on Friday, after the government agreed in principle to a $6 billion loan from the International Monetary Fund (IMF). The rupee, which lost 3.6 per cent on Thursday to close at 146.2 against the US dollar in the interbank market, dropped further on Friday, dealers said, selling at Rs149.50 in the ... Read More »

Gold surges to six-week high at Rs71,700 per tola

KARACHI: Gold prices shot up by Rs600 per tola (11.66 grams) to a six-week high at Rs71,700 in Pakistan after the government let the rupee depreciate by 3.6pc on Thursday. “The rupee depreciation has made import of gold expensive as Pakistan does not produce the commodity and meet local requirement through imports,” All Sindh Saraf and Jewellers Association (ASSJA) President ... Read More »

Rupee hits all-time low of 148.5 against US dollar in inter-bank market

KARACHI: The rupee dropped to an all-time low of 148.50 to the US dollar in the inter-bank market on Thursday. It weakened by over five per cent, or Rs7.10, from Wednesday close of 141.4 in early hours of trade at the inter-bank. Currency dealers are selling dollar at Rs148 and buying at Rs145, a Karachi based dealer said. The drop in rupee comes a ... Read More »

KSE-100 plummets over 700 points in intra-day trading

KARACHI: The latest round of rupee depreciation on Thursday led the stock market to nosedive over 700 points in intra-day trading. The fresh devaluation prompted renewed selling as investors reacted with panic to the latest development. The benchmark KSE-100 Index fell over 650 points below 33,650 points in immediate reaction to the rupee fall, stockbrokers said. The rupee depreciation would ... Read More »