【Daily】22 Apr. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Apr 22, 2022

 -Daily Market-

KSE 100 45,652.62 ▼ 0.63%

KMI 30 74,395.16 ▼ 0.80%

KASB Tech Index 300.79 ▼1.08%


KASB Market View

·        Depreciating currency for the fourth day in a row is likely to continue the bearish sentiment in the market.

·        Cyclical stocks are expected to come under pressure. While investors will prefer to accumulate macro hedged sectors such as tech and textile.


National News


Rupee closes near 187 after fourth straight loss against US dollar

Pakistan rupee continued to register losses for the fourth straight session against the US dollar, depreciating 0.56% in the inter-bank market on Thursday.



SBP-held reserves increase marginally, now stand at $10.89bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a marginal improvement as they increased $36 million on a weekly basis to reach $10.89 billion, revealed central bank data on Thursday.



Miftah leaves for US to meet IMF officials for revival of loan facility

Newly-appointed Finance Minister Miftah Ismail said on Thursday that he was leaving for Washington, where he was expected to meet International Monetary Fund (IMF) officials for the revival of a loan facility that was stalled following the premature end of the Imran Khan government earlier this month.



Pakistan receives bids as it seeks LNG for May-June

ISLAMABAD: Pakistan LNG Limited (PLL) on Thursday received bids for six of seven spot cargoes of liquefied natural gas (LNG) it is seeking for delivery in May and June, an industry source said.


Pakistan receives half of gasoline exports of China in March

Pakistan was the top destination for China’s gasoline exports in March, taking almost half of the outflows for the month, data from the General Administration of Customs showed April 20.



Pakistan looks for alternatives as South African coal remains out of bounds: S&P Global

Thermal coal buyers in Pakistan are looking for a substitute of the South African material as prices of the fuel have remained elevated since early 2022 and an imminent power crisis has created a higher-than-usual domestic demand, market sources told S&P Global Commodity Insights in the week to April 21.



Commodities and Currency: 1-Day Change


USD 1,951.70 ▲ 0.18%


USD 24.68 ▼ 0.09%

Crude Oil

USD 107.61 ▼ 0.66%


Rs 186.77/USD ▲ 0.25%


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