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Daily Report: 22 July 2022

Daily Report: 22 July 2022

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Pakistan Stock Exchange on the last trading day of this week depicted recovery in the second session just ahead of CM Punjab elections and surged +245.55 points, to close the KSE100 Index at 40,077.30 levels.

On the economic front, the acting governor of the central bank stated that Pakistan will meet its elevated funding needs comfortably with the IMF program on track. Moreover, he added that the concerns about Pakistan are being unfairly overblown. Importantly, the nation’s total liquid foreign currency reserves decreased by $369 million or 2.4 percent WoW to stand at $15.24 billion. On the other hand, despite Miftah’s expectation of lower demand for USD in upcoming days, the local currency has dropped a further 1.69 rupees to trade at PKR 228.45/228.95 with deals at a recorded low of 228.50 per USD. Besides, foreign direct investment (FDI) into Pakistan increased by 3 percent YoY, monthly, to $1.87 billion in FY22 from the $1.82 billion reported in FY21. When compared to $141.3mn in June 2021 and $141.2mn in May 2022, FDI increased by 161% YoY and 920% MoM to $271mn on June 22.

Lastly, the Sensitive Price Index (SPI) recorded an increase to 32.82% YoY for the week ended 21st July 2022. Overall 171 million shares traded in KSE All Share Index today, where WTL,UNITY,TPLP and FFBL remained among the top Volume leaders.


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