PSX closes in high record in strong fluidity, sector profits

The stock market increased to a new high -end high, crossing the sign 154,000 for the first time on Friday, with a feeling fueled by prolonged liquidity flows and selective sectoral concentrations.

The Pakistani Stock Exchange (PSX) reference index was installed in 154,277.19 points, increased to 1,611.47 points or 1.06%, from the previous closure of 152,665.72.

The index went up to an intraodomist high of 154,511.31, earning 1,845.59 points, or 1.21%, while touched the low of 153,129.78, up to 464.06 points or 0.3%, from the previous closure.

“The net market continues on the basis of the reciprocal funds market, the overall positive liquidity chasing limited stocks,” said Aah Soomro, an independent investment and financial analyst.

“HUBC and cement have seen a good rally because of the good payment of the HUBC and the possible renewal of the cement sector based on the acquisition of a player,” he added.

Pakistan’s foreign exchange reserves raised by $ 28 million to $ 14,302 billion during the week ended on August 29, Pakistani State Bank (SBP) said on Thursday.

The country’s total wet reserves increased by $ 42 million to $ 19.66 billion, while commercial banks increased by $ 14 million to $ 5.357 billion. SBP stocks are now sufficient to cover 2.62 months of imports.

This marked the fourth consecutive weekly increase in SBP stocks. The bank did not clarify the reasons for the rise of its weekly statement, but the improvement of the external account driven by strong remittances, coupled with continuous SBP foreign exchange purchases, was an important factor.

Treasury yields (T-Bill) remained largely stable on Wednesday, marking that investors do not expect immediate interest rates due to concerns about inflationary pressures after floods. The government has increased the 491 billion RS from the T-Bills auction, exceeding the target of the RS400 billion, but under the aspects of the RS824 billion.

The performance of a one-month T-Bill decreased by 15 BPS (BPS) to 10.75%, while yields in three-month and six-month documents are kept constant at 10.85%. The 12 -month yield also remained flat at 11%. Separately, the government increased 36.7 billion RSS through a Pakistani investment bond auction.

On Thursday, the KSE-100 increased by 463.85 points, or 0.3%, to 152.665.72 points from 152.201.88 points in the last session. The highest indicator of the day was 153,411.06 points, while the lowest level amounted to 152,264.97 points.