KSE-100 INDEX SLIGHTLY LOWER, PKR GAINS AGAINST USD

KSE-100 INDEX CLOSES SLIGHTLY LOWER AT 80,212.79

The benchmark KSE-100. of Pakistan Stock Market (PSX) Index concluded Friday’s trading session at 80,212.79, showing a decrease of 70.01 points or 0.09%.

INTRADAY TRADING RANGE

The index traded in a range of 547.24 points, showing an intraday high of 80,627.49 (+344.69) and a low of 80,080.25 (-202.55) points.

TOTAL VOLUME AND MARKET PERFORMANCE

The total volume of the KSE-100 Index was 211.36 million shares. Of the 100 index companies, 41 closed up, 56 closed down, while 3 remained unchanged.

SECTOR PERFORMANCE

The KSE-100 index was dragged down by the following sectors:

• Oil & Gas Exploration Companies (-92.03pts)
• Cement (-55.38pts)
• Fertilizer (-55.12pts)
• Power Generation & Distribution (-33.69pts)
• Oil & Gas Marketing Companies (-24.86pts)

Conversely, the index was supported by:

• Commercial Banks (+260.37pts)
• Refinery (+9.79pts)
• Miscellaneous (+7.94pts)
• Inv. Banks / Inv. Cos. / Securities Cos. (+3.63pts)
• Sugar & Allied Industries (+1.57pts)

TOP MOVERS

Companies that significantly impacted the index included:

• Dragged the Index Lower:
  • OGDC (-47.65pts)
  • HUBC (-44.91pts)
  • MCB (-27.20pts)
  • MEBL (-27.09pts)
  • BAFL (-25.31pts)
• Added Points to the Index:
  • HBL (+117.49pts)
  • BAHL (+64.40pts)
  • NBP (+62.57pts)
  • HMB (+57.04pts)
  • AKBL (+31.56pts)

BROADER MARKET OVERVIEW

In the broader market, the All-Share Index closed at 50,776.35, with a net loss of 88.13 points or 0.17%. The total market volume was 448.98 million shares compared to 496.78 million from the previous session, while the traded value was recorded at Rs19.00 billion, showing a decrease of Rs0.33 billion.

MARKET PARTICIPATION

There were 215,785 trades reported in 432 companies, with 152 closing up, 229 closing down, and 51 remaining unchanged.

TOP TEN BY VOLUME

ANNUAL PERFORMANCE

The KSE-100 has gained 1,768 points or 2.25% during the fiscal year. The ongoing calendar year has witnessed a cumulative increase of 17,762 points, equivalent to 28.44%.

PKR APPRECIATES AGAINST USD IN INTERBANK SESSION

The Pakistani rupee (PKR) appreciated by 12.23 paisa against the US dollar in Friday’s interbank session, settling at PKR 278.38 per USD compared to the previous session’s closing of PKR 278.5 per USD.

INTRADAY HIGH AND LOW

The currency saw an intraday high (bid) of PKR 278.8 and a low (ask) of PKR 278.6.

OPEN MARKET RATES

In the open market, exchange companies quoted the dollar at PKR 277.75 for buying and PKR 280.23 for selling.

PERFORMANCE AGAINST MAJOR CURRENCIES

• Euro: PKR lost 60.56 paisa, closing at PKR 301.44 compared to the previous value of PKR 300.83.
• British Pound: PKR depreciated by 51.22 paisa, closing at PKR 355.72 compared to PKR 355.21 from a day ago.
• Swiss Franc: PKR appreciated by 98.21 paisa, closing at PKR 309.96 compared to PKR 308.98 from the previous session.
• Japanese Yen: PKR lost 0.43 paisa, closing at PKR 1.7315 versus PKR 1.7272 a day ago.
• Chinese Yuan: PKR remained stable, closing at PKR 38.31.
• Saudi Riyal: PKR lost 2.86 paisa, closing at PKR 74.21 compared to PKR 74.24 a day ago.
• U.A.E Dirham: PKR depreciated by 3.53 paisa, closing at PKR 75.82 compared to PKR 75.79 a day ago.

YEARLY PERFORMANCE

During the current financial year, PKR has depreciated against the Dollar by 3.38 paisa or 0.01%. The current calendar year has seen PKR appreciate by 3.49 rupees or 1.25%.

MONEY MARKET UPDATE

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 1 bps to 19.84% and 20.09%.

Keywords and Meta Data

Keywords:

• Pakistani Rupee
• PKR Exchange Rate
• US Dollar
• Forex Market
• Currency Performance
• Interbank Rate
• Open Market Rate
• Major Currencies

Meta Title: PKR Appreciates Against USD in Interbank Session | Forex Market Update

Meta Description: The Pakistani Rupee (PKR) appreciated by 12.23 paisa against the US dollar in Friday’s interbank session, settling at PKR 278.38 per USD. Explore the intraday highs and lows, open market rates, and PKR performance against major currencies.

Meta Keywords: Pakistani Rupee, PKR, USD, Forex Market, Exchange Rates, Currency Performance, Interbank Rate, Open Market Rate, Major Currencies

GOLD PER TOLA PRICE INCREASES IN PAKISTAN ON FRIDAY

The price of gold in Pakistan saw a rise on Friday, with 24-karat gold being sold at Rs244,400 per tola, an increase of Rs1,100 per tola.

GOLD PRICE ADJUSTMENT

It is worth noting that the price has been kept significantly Rs3,000 below its actual cost today due to a reduction in purchasing power.

KARACHI SARAFA ASSOCIATION REPORT

The Karachi Sarafa Association reported the price of 24-karat gold at Rs209,534 per tola per 10-gram, up Rs944 per tola. Similarly, the price of 22-karat gold was quoted higher at Rs192,072 per 10-gram.

SILVER PRICES

Silver prices remained unchanged in the domestic market:

• 24-Karat Silver: Rs2,850 per tola and Rs2,443 per 10-gram.

GLOBAL MARKET UPDATE

On the global front, spot gold traded near $2,363 an ounce, up $6.8 or 0.29% from the previous session.

WEEKLY SENSITIVE PRICE INDICATOR (SPI) INCREASES BY 1.28% WoW

The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.28% week-over-week (WoW) during the week ended July 04, 2024, while the SPI rose 23.59% year-over-year (YoY) compared to the corresponding period from last year.

SPI INDEX ANALYSIS

According to data released by the Pakistan Bureau of Statistics (PBS), the Combined Index was at 318.61 compared to 314.57 a week earlier, while the index was recorded at 257.79 a year ago.

PRICE MOVEMENTS OF ESSENTIAL ITEMS

During the week, out of 51 items, prices of 29 (56.86%) items increased, 5 (9.80%) items decreased, and 17 (33.34%) items remained stable.

MAJOR WEEKLY PRICE INCREASES

• Tomatoes: +70.77%
• Wheat Flour: +10.57%
• Powdered Milk: +8.90%
• Diesel: +3.58%
• Petrol: +2.88%

MAJOR WEEKLY PRICE DECREASES

• Onions: -9.05%
• Wheat: -1.79%
• Potatoes: -1.04%
• Eggs: -0.79%
• Bananas: -0.60%

SPI CHANGE BY INCOME GROUPS

• Weekly SPI Increase:
  • Lowest Income Group: +1.43%
  • Highest Income Group: +1.23%
• Yearly SPI Increase:
  • Lowest Income Group: +16.97%
  • Highest Income Group: +21.39%

PRICE COMPARISON OF KEY ITEMS

• Sona Urea: Average price at Rs4,746 per 50 kg bag, 0.13% higher than last week and 51.52% higher than last year.
• Cement: Average price at Rs1,409 per 50 kg bag, 10.48% higher than the previous week and 23.16% higher than last year.