• About
  • Advertise
  • Contact
Monday, August 8, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business Economy

PSX weekly review: Current Situation of Pakistan Economy

bySuneela Zulfiqar
July 30, 2022
in Economy, Finance, Main
Reading Time: 2 mins read
0
PSX weekly review: Current Situation of Pakistan Economy
600
SHARES
4.4k
VIEWS
Share on FacebookShare on Twitter

The Pakistan Stock Exchange (PSX) remained volatile during the outgoing futures rollover week, with the benchmark KSE-100 index oscillating between positive and negative territory. The index closed the week flat, with a minor increase of 73 points, or 0.18%, to 40,150 points.

The stock market started the week on a negative note, as political and economic uncertainty kept investors on edge.

RelatedPosts

Pakistan to soon bridge external financing gap of $4 billion: SBP

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

Pakistan’s trade with ASEAN topped $11b in 2022

What is more, the Pakistani rupee continued its precipitous decline against the US dollar (reaching an all-time low of 239.94) amid scepticism over the release of the International Monetary Fund (IMF) tranche.

The increased year-on-year volatility in the current account deficit, which reached $2.3 billion in June 2022, is cause for concern.

Nonetheless, the situation brightened after the finance minister, Miftah Ismail, confirmed that every effort is being made to revive the IMF program.

Additionally, the State Bank of Pakistan’s acting governor spoke in agreement with the finance minister, and squashed fears of any up-coming defaults on global payments.

Besides this, Fitch and Moody’s indicated optimism concerning the dispersal of $1.2 billion from the IMF shortly. Although, S&P Global lowered Pakistan’s credit outlook from neutral to negative, keeping the stock exchange in check.

Other noteworthy occurrences during the week were:

  • ICI Pakistan intending to procure a 75% stake in Lotte Chemical
  • SBP’s foreign currency reserves decreasing $754 million to $8.6 billion
  • Cabinet authorizing Rs3.50 per unit raise in power tariff
  • ECC deciding to increase RLNG rate to $9 per MMBTU for export-oriented sectors
  • ECC endorsing revision in dealer margin of MS (petrol)
  • Hi-speed diesel from Rs4.90 per litre and Rs4.13 per litre to Rs7 per litre.

Foreign buying this week totaled $0.57 million, compared to last week’s net buy of $1.64 million. Buying was seen in technology ($3 million) and textile ($0.64 million) stocks.

Major selling this week came from individuals ($2.04 million) and insurance companies ($1.78 million).

Average volumes this week were 150 million shares (down 8% from last week), while average value traded was $22 million (up 3% from last week).

Tags: KSE-100 indexlatestpakistan economyPakistan Stock Exchange
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

Pakistan to soon bridge external financing gap of $4 billion: SBP

Pakistan to soon bridge external financing gap of $4 billion: SBP

In the face of intense pressure on foreign currency reserves, Pakistan will soon close its $4 billion shortfall in external...

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

RDA With inflows at $188 million, which is significantly less than in June, the inflows under the Roshan Digital Account...

Next Post
Tax receipts rise at the less required rate

Tax receipts rise at the less required rate

Recommended

Arshad Nadeem gets international scholarship for Paris Olympics 2024

Arshad Nadeem gets international scholarship for Paris Olympics 2024

CM Punjab directs to start work on Ring Road Project, Nullah Lai Expressway

CM Punjab directs to start work on Ring Road Project, Nullah Lai Expressway

Pakistan’s Shehroze Kashif becomes youngest climber to summit Gasherbrum II

Pakistan’s Shehroze Kashif becomes youngest climber to summit Gasherbrum II

Finance Minister launches Pakistan’s first digital Mutual Fund aggregator “EMLAAK Financials”

Finance Minister launches Pakistan’s first digital Mutual Fund aggregator “EMLAAK Financials”

Pakistan to soon bridge external financing gap of $4 billion: SBP

Pakistan to soon bridge external financing gap of $4 billion: SBP

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In