KARACHI: After the arrival of a 50-member trade delegation from Saudi Arabia to Pakistan, the Pakistan Stock Exchange increased due to the positive sentiments, potential agreements worth more than 10 billion dollars in Rekodic project, business-to-business MoUs and various sectors between the two countries. The bullish trend continued on Monday as well, with the index recovering the psychological level of 72000 points.
Due to the boom, the share prices increased by 66.32% while the value of the shares increased by 89 billion 57 crore 83 lakh 34 thousand 752 rupees. At one point, a boom of 1159 points also took place.
However, in the closing moments, the trend of immediate profit-taking led to a reduction in the said rate of bullishness. Despite positive factors such as balance of external payments coming under control due to the mechanism, Saudi finance minister and investors’ interest in investing in Pakistan’s various sectors, the dollar fluctuated in both the foreign exchange markets on Monday. There was a limited increase. At the close of business, the dollar interbank rate closed at Rs 278 by 23 paise with a limited increase of 03 paise.
Similarly, in the open currency market, the value of the dollar increased by 18 paise and closed at the level of 279 rupees 38 paise. Apart from this, the local price of gold has been kept below the cost of Rs 2,000 on Monday due to the impact of purchasing power in the local exchange markets and the reduction in sales. The price of ten grams of gold also increased by Rs 2143 to Rs 206190.
