Daily Report: 17 June 2022RT Securities
Pakistan Stock Exchange continued its positive momentum on the last trading day of this week, surged +410.60 points to close the KSE 100 Index level at 42,140.76.
On the economic front, the country’s total liquid foreign exchange reserves dropped by $233.5 million, or 1.53% WoW, to $14.94 billion in the week ending June 10, 2022, the lowest level since July 19, 2019, compared to $15.17 billion the week before. Besides that, the Financial Action Task Force (FATF) will hold a press conference today at 7:30 p.m. to announce the outcome of the meeting and whether Pakistan will be removed from or kept on its increased monitoring list, also known as the “grey list,” but the government is optimistic that the outcome will be in Pakistan’s favour. Furthermore, the Pakistani rupee (PKR) has continued to lose ground in the interbank market, plunging to 208.75 per US dollar during intraday trade, down 1.08 rupees from the previous close of PKR 207.67 per USD.
Importantly, the Sensitive Price Index (SPI) increase to 27.82 percent year over year during the week ending June 16th, 2022. The KSE All Share Index saw a total of 282 million shares traded today, with CNERGY,HUMNL,PRL and OBOYR1 among the top Volume leaders.