Business

In anticipation of an economic rebound, PSX radiates positivity.

Published

7 months ago

Farwa

On Monday, the opening day of the new fiscal year, the Pakistan Stock Exchange (PSX) saw a 700-point increase.

The positive trajectory can be ascribed to anticipations of reduced inflation and the endorsement of the IMF tranche following the National Assembly’s enactment of the tax-heavy budget.

The KSE-100 index increased by 704.08 points on Monday morning, closing at 79,149.04. At 78,444.96 points, it was last closed.

According to analysts, a reduction in inflation and the International Monetary Fund’s (IMF) approval of the loan tranche are anticipated. In the second week of July, an IMF delegation is scheduled to visit Pakistan.

HISTORICAL HIGHEST

A few days prior, the Pakistan Stock Exchange (PSX) was experiencing a positive trend when the KSE-100 index broke another record by crossing the 80,000 point threshold.

On Friday, the final day of the workweek, the PSX had a robust surge, with the KSE-100 index rising to 80,001 points, a gain of 1,199 points.

The bull had taken the market by storm for the second day in a row. After rising by 2,095 points, the PSX established a record on Thursday, closing at 78,802 points.

The market was closed on Thursday due to the Eidul Azha festivities, therefore the 78,802 milestone was announced on the first day of the trading week.

Business

Robust activity lets PSX climb above 115,000 level again.

Published

3 minutes ago

Farwa

On Friday, the Pakistan Stock Exchange (PSX) resumed its upward trend, crossing 115,000 points once more.

The PSX had strong action in the morning session, as the KSE-100 index increased by 1,000 points to 115,138.

The notoriously volatile PSX closed Thursday at 114,037 points, up 594 points.

DOLLAR DEPRECIES

Meanwhile, in the interbank market this morning, the US dollar fell 7 paisas to Rs278.65 against the Pakistani rupee.

Business

SBP will announce monetary policy on January 27.

Published

6 minutes ago

Farwa

The State Bank of Pakistan (SBP) will release its monetary policy on Monday.

The Monetary Policy Committee (MPC) of the SBP will convene on the first day of the following week to make decisions on monetary policy.

The Monetary Policy decision will be announced by Governor SBP Jameel Ahmad at a news conference on the same day after the MPC meeting, according to an official release.

In December, the central bank reduced policy rates by 200 basis points (bps) to 13 percent.

“In November 2024, headline inflation fell to 4.9 percent year on year, meeting the MPC’s estimates. This decrease was mostly caused by the ongoing decline in food inflation and the phasing out of the impact of the gas tariff increase in November 2023,” SBP stated in an official release.

“However, the Committee noted that core inflation, at 9.7 percent, is proving to be sticky, while consumer and business inflation expectations remain volatile.” To that end, the Committee restated its previous assessment that inflation may remain volatile in the short term before stabilizing within the target range.

“At the same time, growth prospects have slightly improved, as evidenced by a recent increase in high-frequency indicators of economic activity.” Overall, the Committee concluded that its approach of gradual policy rate decreases is keeping inflationary and external account pressures under control while promoting long-term economic growth.

Business

Finance Minister Meets With World Leaders at World Economic Forum in Davos

Published

1 day ago

Farwa

During his attendance at the World Economic Forum in Davos, Switzerland, Finance Minister Muhammad Aurangzeb has met with officials of organisations and leaders of many nations.
Bangladesh’s Chief Advisor, Muhammad Younas, met with Mohammad Aurangzeb.
On the fringes of the World Economic Forum’s Annual Meeting 2025 Opening Banquet, there was an informal meeting.
Additionally, the Finance Minister met with Anwar Ibrahim, the Prime Minister of Malaysia.
Both leaders discussed economic cooperation and bilateral ties.
Muhammad Aurangzeb also had a meeting with Dp World’s Rizwan Soomro and Yuvraj Narayan.
They talked about how to strengthen Pakistan’s logistics and infrastructure systems to support trade.
“The Pakistani government is committed to advancing joint projects and values partnerships in both business-to-business and business-to-government cooperation,” the finance minister added.