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Daily Report: 05 August 2022

Daily Report: 05 August 2022

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Pakistan Stock Exchange on the last trading day of this week depicted bullish momentum on the back of improved macros and surged +670.87 points despite the long weekend to close the KSE100 Index at 42,096.24 levels.

On the economic front, the country’s total liquid foreign exchange reserves decreased by $206 million or 1.42 percent WoW during the week to $14.2 billion. In addition to this, the Sensitive Price Index (SPI) recorded an increase to 38.63% YoY for the week ended 4th Aug 2022. On the other hand, the dollar struggled to recover on Friday after suffering its biggest two-week fall as investors remained on edge in anticipation of the highly awaited US employment report and amid escalating recession fears. The US dollar index, which evaluates the dollar’s value in relation to a basket of other currencies, fell overnight by 0.68 percent, the highest since July 19, and it most recently traded at 105.79. Moreover, the federal minister of finance and power, Mr. Miftah Ismail, and revenue, the federal government postponed the fixed tax regime on electricity bills for a year.

The cement sector attracted investors’ interest as the recent bear spell in the market has opened up unprecedented valuation discounts. Overall 407 million shares traded in KSE All Share Index today, where CNERGY,PRL,WTL and TPLP remained among the top Volume leaders.


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