PSX ceases to 145k after seven weeks rally
The Pakistan Stock Exchange (PSX) closed moderately lower on Friday, as investors chose to receive profits at the end of a strong week, with the KSE-100 index setting up 145,383, below 264 points or 0.18%. Market integration around 145,000 came, as Pakistan’s state bank reported $ 72 million in foreign exchange reserves to $ 14.23 billion for the week ending August 1 – the third consecutive weekly decline. CAUTION prevailed amid growing government yields of bonds, fresh commercial data and monetary policy signals, causing selective speculative detention. Heavyweight, such as Engro fertilizers, Lucky Cement, Systems Limited, Mari Petroleum and Hubco,
