Daily Report: 07 March 2022RT Securities
Pakistan Stock Exchange (PSX) broke its bearish trend on the fourth day of this week, surged by +11.60 points on the back of soaring Intl. commodity prices to close the KSE100 Index at 44,525.72 levels.
On the economic front, Pakistan’s merchandise trade deficit for February 2022 was $3.1 billion, down from $3.4 billion the previous month, indicating a decrease of 9.7% MoM as imports fell by 2.3 percent. On the other hand, Brent oil prices rose beyond $118 a barrel on Thursday, as trade disruption and transportation challenges caused by Russian sanctions over the Ukraine crisis stoked supply concerns, while US crude stocks inventory plunged to multi-year lows. Investors seem concerned about the ongoing global strains and ballooning commodity prices.
Overall 188 million shares traded in KSE All Share Index today, where TRG,OGDC,FCCL and FLYNGR1 remained among the top Volume leaders.