Daily Report: 25 July 2022dev.admin
Pakistan Stock Exchange on the first trading day of this week resumed its bearish trend and plummeted by -233.28 points, to close the KSE100 Index at 39,844.02 levels.
On the economic front, the head of Pakistan’s central bank stated that the country’s $33.5 billion in external funding requirements are fully covered for the fiscal year 2022–2023 and that “unwarranted” market concerns over its financial situation will pass in the coming weeks. On the otherhand, the Pakistani rupee (PKR), which had previously closed at PKR 228.37 per USD, has lost ground against the dollar in intraday trade in the interbank market, where it is currently quoted at PKR 229.81/230.81 with trades being reported at 230 per USD due to the escalating political tension and the gloomy macros. Moreover, Intl’oil prices fell, continuing a recent losing streak due to worries that a predicted increase in U.S. interest rates will reduce fuel consumption. Brent crude futures for September settlement decreased $1.19, or 1.2 percent, to $102.01, declining for the fourth straight day.
Overall dull participation witnessed and 75 million shares traded in KSE All Share Index today, where TPLP,WTL,LOTCHEM and UNITY remained among the top Volume leaders