Daily Report: 18 March 2022dev.admin
Pakistan Stock Exchange (PSX) on the last trading day of this week depicted a bearish trend on the back of overheated local political situations and benchmark index declines – 777.26 points to close the index level at 43,029.97 .
On the economic front, the IMF said it was having constructive ongoing discussions with authorities as part of the seventh program. Moreover, the country fetched a significant amount of FDI in the current fiscal year, which surged 6% during the first eight months Jul-Feb,22 to $1.257 bln compared to $1.185 bln last year. On the SBP front, the country’s total liquid foreign exchange reserves fell by $206 million, or -0.9% WoW, to $22.69 billion in the week ending March 17th, 2022, compared to $22.87 billion the previous week. Lastly, the Sensitive Price Index (SPI) increased by 15.12 percent YoY.
On the other hand, investors are closely eyeing the ongoing domestic political situations and no confidence motions against the premier, which might ignite further uncertainties to the political instability. Overall 180 million shares traded in KSE All Share Index today, where WTL,GGL,KEL and PALER3 remained among the top Volume leaders.