New Updates About Iqama and Haj from Saudi Arabia’s King?
Despite positive signals on the economic horizon, trading activity on the Pakistan Stock Exchange remained at its worst last week.
Last week’s Senate election, political instability and rising inflation have weighed on the market, while fears of future Corona cases affecting trade and exports have also been disappointing.
The index also fell to 45,000, 44,000 and 43,000 points due to the downtrend in weekly trading. Investors were cautious due to the uncertainty on the political horizon. I stayed fast.
Due to the recession, the investors sank Rs. 399.49 billion, which reduced the total market capitalization to Rs. 77.92 billion, 54.85 million, 19,849.
In addition, the country’s monthly remittances continued to be mixed after the dollar fluctuated last week due to a steady rise in remittances. The interbank rate of the dollar remained stable in weekly trading while the dollar appreciated in the open market. The rupee depreciated on expectations that remittance inflows from currency dealers would increase further in the coming months.
The dollar, euro, pound, and Saudi riyal appreciated at the interbank market during the week, while the dollar depreciated against the euro in the open market and the pound rial appreciated.
