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    Gold price up by Rs300 to Rs117,700 per tola

    Gold price up by Rs300 to Rs117,700 per tola

    Rupee gains 53 paisa against USD in interbank

    Rupee gains 53 paisa against USD in interbank

    LPG price goes up by Rs5/kg

    LPG price goes up by Rs5/kg

    Moody’s upgradation of Pakistan outlook affirms sound financial policies: Finance Ministry

    Moody’s upgradation of Pakistan outlook affirms sound financial policies: Finance Ministry

    Gold up by Rs400 to Rs123,900 per tola

    Gold soars to all-time high of Rs132,000 per tola

    The Asian Development Bank’s COVID-19 response reaches $9.3 billion to end July 2020

    The Asian Development Bank’s COVID-19 response reaches $9.3 billion to end July 2020

    Financial close of Thar Block-2 Power Plant in Sept end, says Asim Saleem Bajwa

    Financial close of Thar Block-2 Power Plant in Sept end, says Asim Saleem Bajwa

    Gold up by Rs400 to Rs123,900 per tola

    Gold up by Rs400 to Rs123,900 per tola

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    Suga set to become Japan’s premier

    Suga set to become Japan’s premier

    Johnson says plan to break Brexit treaty needed to counter EU’s ‘revolver’

    Johnson says plan to break Brexit treaty needed to counter EU’s ‘revolver’

    Kabul presses ceasefire demand in Taliban talks

    Kabul presses ceasefire demand in Taliban talks

    China coronavirus vaccine may be ready for public in November: official

    China coronavirus vaccine may be ready for public in November: official

    Trump to preside over historic Arab-Israel recognition deals

    Trump to preside over historic Arab-Israel recognition deals

    Over 70 held in Melbourne after protest against lockdown

    Over 70 held in Melbourne after protest against lockdown

    Libyan protesters torch parallel govt’s offices

    Libyan protesters torch parallel govt’s offices

    Women grieve stillborn babies as Covid-19 hits maternity care in rural India

    Women grieve stillborn babies as Covid-19 hits maternity care in rural India

    October, November to be ‘tougher’ in Europe with more covid deaths: WHO

    October, November to be ‘tougher’ in Europe with more covid deaths: WHO

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      China-Pakistan sign development agreement of Rashakai SEZ under CPEC

      China-Pakistan sign development agreement of Rashakai SEZ under CPEC

      China – Pakistan to sign Rashakai SEZ development agreement under CPEC today

      China – Pakistan to sign Rashakai SEZ development agreement under CPEC today

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      Pakistan, China to ink deal on development of CPEC’s Rashakai Economic Zone tomorrow

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      Pakistan invites Japan to explore investment opportunities under CPEC

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      Snap pledges to hire more minorities, women in tech roles

      Snap pledges to hire more minorities, women in tech roles

      PTA lifts ban on PUBG after meeting company representatives

      PTA lifts ban on PUBG after meeting company representatives

      Qualcomm quick charge 5 announced supporting 100W fast charging

      Qualcomm quick charge 5 announced supporting 100W fast charging

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      Huawei launches Maimang 9 with 64MP triple cameras for $300

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      Black holes are hiding movies of the universe in their glowing rings

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        Agha Ali sends prayers towards Sarah Khan, Falak Shabir

        Agha Ali sends prayers towards Sarah Khan, Falak Shabir

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        Rihanna makes foray into skin care with Fenty Skin

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        Actress Kelly Preston dies of breast cancer at 57

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        Mahira Khan shakes leg with Lebanese actress Daniella Rahme in Paris

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        Abida Parveen is Jada Smith’s ‘spiritual mother’

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        Katrina Kaif’s picture with sister Isabelle Kaif makes for a perfect sibling selfie

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        • Home
        • Today’s Newspaper
        • Pakistan
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          Gold price up by Rs300 to Rs117,700 per tola

          Gold price up by Rs300 to Rs117,700 per tola

          Rupee gains 53 paisa against USD in interbank

          Rupee gains 53 paisa against USD in interbank

          LPG price goes up by Rs5/kg

          LPG price goes up by Rs5/kg

          Moody’s upgradation of Pakistan outlook affirms sound financial policies: Finance Ministry

          Moody’s upgradation of Pakistan outlook affirms sound financial policies: Finance Ministry

          Gold up by Rs400 to Rs123,900 per tola

          Gold soars to all-time high of Rs132,000 per tola

          The Asian Development Bank’s COVID-19 response reaches $9.3 billion to end July 2020

          The Asian Development Bank’s COVID-19 response reaches $9.3 billion to end July 2020

          Financial close of Thar Block-2 Power Plant in Sept end, says Asim Saleem Bajwa

          Financial close of Thar Block-2 Power Plant in Sept end, says Asim Saleem Bajwa

          Gold up by Rs400 to Rs123,900 per tola

          Gold up by Rs400 to Rs123,900 per tola

        • World
          Suga set to become Japan’s premier

          Suga set to become Japan’s premier

          Johnson says plan to break Brexit treaty needed to counter EU’s ‘revolver’

          Johnson says plan to break Brexit treaty needed to counter EU’s ‘revolver’

          Kabul presses ceasefire demand in Taliban talks

          Kabul presses ceasefire demand in Taliban talks

          China coronavirus vaccine may be ready for public in November: official

          China coronavirus vaccine may be ready for public in November: official

          Trump to preside over historic Arab-Israel recognition deals

          Trump to preside over historic Arab-Israel recognition deals

          Over 70 held in Melbourne after protest against lockdown

          Over 70 held in Melbourne after protest against lockdown

          Libyan protesters torch parallel govt’s offices

          Libyan protesters torch parallel govt’s offices

          Women grieve stillborn babies as Covid-19 hits maternity care in rural India

          Women grieve stillborn babies as Covid-19 hits maternity care in rural India

          October, November to be ‘tougher’ in Europe with more covid deaths: WHO

          October, November to be ‘tougher’ in Europe with more covid deaths: WHO

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          • CPEC
            China-Pakistan sign development agreement of Rashakai SEZ under CPEC

            China-Pakistan sign development agreement of Rashakai SEZ under CPEC

            China – Pakistan to sign Rashakai SEZ development agreement under CPEC today

            China – Pakistan to sign Rashakai SEZ development agreement under CPEC today

            Pakistan, China to ink deal on development of CPEC’s Rashakai Economic Zone tomorrow

            Pakistan, China to ink deal on development of CPEC’s Rashakai Economic Zone tomorrow

            Pakistan invites Japan to explore investment opportunities under CPEC

            Pakistan invites Japan to explore investment opportunities under CPEC

          • Technology
            Snap pledges to hire more minorities, women in tech roles

            Snap pledges to hire more minorities, women in tech roles

            PTA lifts ban on PUBG after meeting company representatives

            PTA lifts ban on PUBG after meeting company representatives

            Qualcomm quick charge 5 announced supporting 100W fast charging

            Qualcomm quick charge 5 announced supporting 100W fast charging

            Huawei launches Maimang 9 with 64MP triple cameras for $300

            Huawei launches Maimang 9 with 64MP triple cameras for $300

            Black holes are hiding movies of the universe in their glowing rings

            Black holes are hiding movies of the universe in their glowing rings

            Trending Tags

            • Lifestyle
              Agha Ali sends prayers towards Sarah Khan, Falak Shabir

              Agha Ali sends prayers towards Sarah Khan, Falak Shabir

              Rihanna makes foray into skin care with Fenty Skin

              Rihanna makes foray into skin care with Fenty Skin

              Actress Kelly Preston dies of breast cancer at 57

              Actress Kelly Preston dies of breast cancer at 57

              Mahira Khan shakes leg with Lebanese actress Daniella Rahme in Paris

              Mahira Khan shakes leg with Lebanese actress Daniella Rahme in Paris

              Abida Parveen is Jada Smith’s ‘spiritual mother’

              Abida Parveen is Jada Smith’s ‘spiritual mother’

              Katrina Kaif’s picture with sister Isabelle Kaif makes for a perfect sibling selfie

              Katrina Kaif’s picture with sister Isabelle Kaif makes for a perfect sibling selfie

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              Weekly review: PSX rallies for fifth successive week

              Web Desk by Web Desk
              26/07/2020
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              Weekly review: PSX rallies for fifth successive week
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              KARACHI: The Pakistan stock market marked its fifth successive week in the green even though the rally lost steam mid-week as investors succumbed to profit-taking. The KSE-100 index posted gains of 276 points to close at 37,608 points in the outgoing week.

              Investors had been euphoric over the substantial rate cuts by the central bank and the upcoming monetary policy announcement once again brought equities to the forefront as the preferred asset class. Moreover, the declining trend in Covid-19 infections also spurred investors as hopes of end of lockdown attracted buying interest.

              Monday kicked off on a bullish note as participants took cue from last week’s trend and pushed the index higher. Activity was driven by investors cheering the low interest rate environment coupled with a surge in foreign direct investment (FDI). FDI rose 88% to $2.56 billion in Pakistan in the previous fiscal year (FY20) compared to $1.36 billion in FY19, the State Bank of Pakistan (SBP) reported on Friday.

              Developments regarding the Diamer-Bhasha Dam and the housing scheme spurred buying interest in cement stocks. Additionally, the news of declining Covid-19 cases and deaths also boosted investor confidence.

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              The uptrend continued in the following session as encouraging large-scale manufacturing data bolstered investor sentiment and pushed the index upward. A bull-run in global stock markets gave further boost to investor confidence.

              Stocks extended the rally on Wednesday as traders indulged in alternative bouts of buying and selling. On the one hand, gains were tempered by anticipation of interest rate announcement, on the other investors cheered the relative stability of the rupee.

              Additionally, improvement in the current account deficit also strengthened investors’ sentiments. The current account deficit had contracted by a massive 78% to $2.96 billion in the previous fiscal year. Developments about the Naya Pakistan Housing Scheme also fuelled buying interest in cement stocks.

              The tables turned on Thursday as the KSE-100 index snapped the five-day winning streak and succumbed to selling pressure. Market participants resorted to profit-booking on fears of a disappointing corporate results season.

              Volatility marred the last trading day of the week on back of economic uncertainty and rising coronavirus. Although the overall mood remained sombre and weak sentiments wiped off some gains made earlier, the index finished in the positive territory.

              Participation dipped marginally as average volumes were down 3% week-on-week to settle at 413 million shares, while average value traded dropped 2% to clock-in at $97 million.

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              In terms of sectors, positive contributions came from commercial banks (253 points), power generation and distribution (76 points), automobile assembler (31 points), textile composite (28 points), and technology and communication (17 points).

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              On the other hand, negative contributions came from cements (60 points), oil and gas exploration companies (38 points), and chemical (19 points).

              Scrip-wise, positive contributions were led by HBL (128 points), MCB (64 points), HUBC (58 points), BAHL (35 points), and MTL (31 points).

              Foreign selling continued this week clocking-in at $9.3 million compared to a net sell of $27.4 million last week. Selling was witnessed in commercial banks ($2.9 million) and E&P ($1.7 million). On the domestic front, major buying was reported by companies ($7.3 million) and insurance companies ($7 million).

              Among major news of the week were; foreign exchange reserves held by the SBP edged up, LSM declined by 10% YoY during 11MFY20, government considers withdrawing generalised subsidies, two urea plants to start production on July 26 post gas supply resumption and World Bank will extend financing of $500 million and Asian Infrastructure Investment Bank (AIIB) will provide co-financing of $250 million for the RISE programme.

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