The capital market increased to a new historical maximum, crossing the 154,000 mark for the first time, on Friday, with feelings fed by sustained liquidity flows and selective sectoral demonstrations.
The KSE-100 index of the Stock Exchange of the Pakistan Stock Exchange (PSX) rose to an intradic maximum of 154,511.31, winning 1,845.59 points, or 1.21%, while touching a minimum of 153,129.78, above 464.06 points, or 0.3%, from the previous closure of 152,665,72.
“The net purchase continues based on the purchase of mutual funds, general positive liquidity that pursues limited actions,” said Aah Soomro, an independent economic and investment analyst.
“Hubc and Cement have seen a good rally due to good payment by HubC and the possible reverence of the cement sector based on the acquisition of a player,” he added.
Pakistan currency reserves held by the Central Bank increased by $ 28 million to $ 14,302 billion during the week that ended on August 29, the State Bank of Pakistan (SBP) reported Thursday.
Total foreign foreign reserves of the country increased by $ 42 million to $ 19.66 billion, while Banks Commercial Reserves increased by $ 14 million to $ 5,357 billion. SBP reserves are now enough to cover 2.62 months of imports.
This marked the fourth consecutive weekly increase in SBP reserves. The bank did not specify the reasons for the increase in its weekly statement, but the improvement in the external account driven by strong remittances, together with the continuous purchases of foreign exchange by the SBP, has been an important factor.
The Treasury Law Project (T-Bill) remained largely stable on Wednesday, indicating that investors do not expect an immediate interest rate change due to concerns about inflationary pressures after sudden floods. The Government raised RS491 billion of the auction of T invoices, exceeding its objective of RS400 billion but below the maturities of RS824 billion.
The T-Bill yield of a month fell into 15 basic points (BPS) to 10.75%, while the yields in the documents of three months and six months were stable at 10.85%. The 12 -month yield also remained stable at 11%. Separately, the Government raised RS36.7 billion through an investment bond auction of Pakistan of floating rate.
On Thursday, the KSE-100 increased by 463.85 points, or 0.3%, to 152,665.72 points of 152,201.88 points in the last session. The highest index of the day was 153,411.06 points, while the lowest level was 152,264.97 points.
