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Daily Report: 14 April 2022

Daily Report: 14 April 2022

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Pakistan Stock Exchange (PSX) on the fourth trading day of this week underwent bullish momentum and KSE 100 Index climbed +318.93 points to close the benchmark index at 46,484.43 levels.

On the economic front, Workers’ remittances continued their record run of inflow above $2 billion per month since June 2020, and recorded $2.8 billion inflows in March 2022 alone. This is the biggest monthly level in the history of worker remittances. In terms of growth, remittances climbed by 28.3 percent month over month and 3.2 percent year over year in March 2022, with Pakistan receiving $2.2 billion in the previous month and $2.7 billion in March 2021. Moreover, The International Monetary Fund’s executive board approved the formation of a new facility today to assist low-income and vulnerable middle-income countries deal with longer-term issues such as climate change and pandemics. On the other hand, the Reserve Bank of Pakistan (SBP) today began an Open Market Operation, pumping Rs 163.5 billion into the market at a rate of 12.28 % for one day.

Oil prices were modestly lower this morning after a huge spike earlier in the week as traders weighed a larger-than-expected build in US oil reserves against tighter global supply. Brent futures were trading at $108.38 a barrel, down 38 cents, or 0.35 %.Investor participations remained upbeat and overall 494 million shares traded in KSE All Share Index today, where CNERGY,WTL,FLYNG and TELE remained among the top Volume leaders .


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