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Pakistan Stock Exchange (PSX)

Benchmark 100 index goes down by 1300 points in initial trading

KARACHI: The Pakistan Stock Exchange (PSX) opened on Monday with nosedive in benchmark KSE-100 index, which went down by 1,300 points in the intraday trading. The PSX with opening of trading today at 40,496 points, dropped to 39,187 points within an hour. The drop in the stock exchange on the first day of the new week happened on the back of the announcement of the monetary police by the State Bank of Pakistan (SBP) apart of a persistent fall of the value of Pakistani rupee. The new government of Prime Minister…

PSX stocks bullish after Saudi economic package for Pakistan

KARACHI: Pakistan Stock Exchange (PSX) registered bullish trend as the benchmark 100-Index goes up by 1500 points on Wednesday. According to market sources, Prime Minister Imran Khan's visit to Saudi Kingdom and announcement of Saudi economic package for Pakistan is the major cause of positive sentiment in the PSX. Saudi Arabia on Tuesday stepped forward with a six billion US dollars economic package for Pakistan. The Saudi package includes $3bn balance of payments support and another $3bn in deferred payments for…

Gold prices turned down, as US dollar continues diminishing

KARACHI: The gold price today is showing downward trend in the value of one tola and 10 gram by Rs1,850 and Rs1,586 respectively. The gold is losing its value sue to continuous diminishing of US dollar against Pakistani rupee in the interbank market. It is observed that local one tola and 10 grams gold price further came down by Rs1,850 and Rs1,586 on Monday attaining worth of Rs54,500 and Rs46,725 respectively. However, there is no modification in gold prices in world gold rate, and is stable at $1,224 per ounce. Only…

Oil discovered in Khaur, Punjab by Pakistan Oilfields Limited (POL)

KARACHI: Pakistan Oilfields Limited (POL) has lucratively discovered oil in Khaur, North of Punjab, revealed on Thursday by a notice of Pakistan Stock Exchange (PSX). According to details, the well is drilled at the depth of 14,586ft in Amb construction which will keep it a moderately trivial well, which will flow at the force of 776psi to 1090psi. The preliminary examination recommends the flow of oil and gas to be 502bpd & 1.4mmcfd respectively. Meanwhile, the well was tested with water flow of 277bpd but it can…

PSX adds four Chinese directors on board

KARACHI: Pakistan Stock Exchange (PSX) made history with addition of four directors on board to represent the 40% stake bought by the Chinese consortium. The new directors include Que Bo from Shanghai Stock Exchange, Zheng Hu from China Financial Futures Exchange, Yu Huali from Shenzhen Stock Exchange and Li Peng from Pak-China Investment Company. The quartet would play a leading role in appointment of the PSX’s chief executive, chief financial officer and chief regulatory officer since they have been given rights to…