fbpx

Daily Report: 02 August 2022

Daily Report: 02 August 2022

Spread the love

Pakistan Stock Exchange (PSX) on the second trading day of this week depicted a recovery session on the back of financing assurance by the IMF and the KSE 100 Index climbed +115.65 points to close the benchmark index at 40,191.61 levels.

On the economic front, the IMF representative for Pakistan, claims that Pakistan has finished all prerequisites for loan review. Esther Perez Ruiz says the country has fulfilled the IMF’s last requirement for the combined 7th and 8th review after raising the petroleum development levy (PDL) and the IMF board is set to meet on Aug-24. The stock market which was dwindling prior to this news recovered the negative -313 points, landed in the green zone, and climbed as much as +382 points in intraday trade. On the other hand, the Pakistani rupee (PKR), which has been steadily strengthening against the US dollar during this week, ¬†gained 87 paise more today and was quoted at PKR 238.03/238.53. Moreover, Pakistan’s textile exports fell by 10% month over month in July 2022, reaching $1.54 billion. Similar to this, year over year, textile exports fell by 5% in July 2022 from $1.47 billion in the corresponding month of the prior year.

The market stayed healthy and relatively better partitions were witnessed. Overall 217 million shares traded in KSE All Share Index today, where TPLP,AGL,PRL and CNERGY remained among the top Volume leaders.


Spread the love

Share this post

Leave a Reply


Open chat
hello,
may I help you!!!