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Daily Report: 30 June 2022

Daily Report: 30 June 2022

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Pakistan Stock Exchange (PSX) on the last trading  day of this month depicted positive trend and surged +243.10 points to close the benchmark KSE100 Index at 41,540.83 levels and -1538 points decline on the monthly basis.
 
On the economic front, Pakistan is getting closer to receiving an International Monetary Fund (IMF) loan, but before it can, the nation will probably have to raise fuel prices and the policy rate by 50 basis points in the upcoming quarter. First off, the two-month-old government would likely need to hike pump prices after previously increasing them by 60% at the review set for July 1. On the otherhand, the Pakistani rupee (PKR), which has been on an upward trend, has increased by 1.37 rupees versus the US dollar in early trade today and quoted at PKR204.25/204.75 where trades were reported at PKR 203.75 per USD. Moreover, the auction of three-, six-, and twelve-month T-bills, (SBP) raised Rs1.74 trillion versus an initial target of Rs800 billion and a maturity of Rs791 billion. The cut-off yields for the 3-month and 6-month terms decreased by 2 and 15 basis points, respectively, in the auction held on Wednesday, while the yields for the 12-month term stayed unchanged at 14.95 percent.
 
Overall 192 million shares traded in KSE All Share Index today, where KEL,AGL,FCCL and WTL remained among the top Volume leaders.


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