Positive political and economic indicators last week proved to be good for the Pakistan Stock Exchange as the depreciation of the dollar boosted investment in anticipation of lower import costs and future inflation, encouraging remittances, current account deficit surplus. Factors such as
Increased production of Large Scale Manufacturing Units (LSMs) boosted purchasing activity as listed companies’ future profits rise. Concerns that business and exports could be affected by rising cases of Corona last week also weighed on some sessions. Due to this, the level of 44,000 points of the index was also restored.
Weekly turnover increased in 4 sessions and declined in 1 session. Due to the overall gain, the value of shares increased by Rs. 154.71 billion, which increased the total market capitalization to Rs. 79.47 billion. 5 lakh 47 thousand 210.
In addition, the dollar continued to depreciate last week on expectations of the government’s use of the International Bank for Eurobonds and the future growth of the country’s foreign exchange reserves from Eurobond Kiajra. Made strong
The dollar supply increased during the week due to easing of payment pressures, while the dollar, euro, pound and Saudi riyal depreciated in the interbank open market during the week.
Last week, the dollar’s interbank rate fell below Rs 156 and the open rate fell below Rs 157. During the week, the dollar depreciated by a total of Rs 1.16 in the interbank market, pushing the dollar lower to close at Rs 155.97. In the market, the dollar fell 90 paise to 156.40.