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Showing posts from July 31, 2022
  5 Aug 2022 KSE100 Index closes at  42,096 up 1.62% adding 671 points. KSE100 Index gained 4.85% this week. KSE100 Trading up 450 pts. close to 42k level. (3pm) Saudi Aramco raises the official selling price (OSP) for its flagship Arab Light to a record of +$9.8 a barrel above the Asian benchmark.  link Pakistan's total liquid foreign exchange reserves  declined  by $ 206 million during last week due to external debt servicing. KIBOR  remains elevated 15.9%. The  Bank of England  raised its main rate by 50bps to 1.75% in its August 2022 meeting. It is the biggest rate increase since 1995. Gold  moved higher to $1788. USD Index DXY declines to 105.86. Oil  remained at a low level as of last night. WTI $88.8 Brent 94.4 GeoPoliticking China taking step to reduce US interactions on various forum over Taiwan issue. China- Taiwan tensions continue, sparked by Pelosi's visit.  read
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  WTI  trading at $88.5 Brent 93.9 (8:25pm)  Gold  $1787 KSE100 Index rose 357 points to close at 41,425. Trading Value Rs 7.9 bn. Rupee gaining strength against the USD after historic recovery yesterday. Gained Rs. 2.65 today. Pak Rupee was less than 210 to a USD in second week of July before the upset in Punjab provincial elections. PSX opens positive.  KSE100 Index  +225. (9:45am) Pakistan raises Rs298 bn in  PIB Auction . Higher than the target  of Rs175 billion. The cut off yield on the three-year remained stable at  13.95%.  Gold  rose again to $1770+ level on weak DXY. Oil  remains weak. WTI $91.2 Brent $96.8 (9:20am). Yesterday, OPEC+ announced a lower level of production increase for Sept. Inventory data yesterday, however, was bearish.            GeoPoliticking Shippers are rerouting vessels as China begins largest-ever military exercise around  Taiwan . The US gave China good reason...
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  Oil  down 2% ; WTI $92 Brent 98. Though physical market expected to be tight on lower increase by OPEC. OPEC+  agrees to increase oil output by 100,000 barrels a day for September. This is a lower increase than in recent months.  Read .  KSE100 Index  rises by 877 pts  (2.2%)   to 41,069. Trading Value Rs 10bn. USD/PKR  at 228, rising about   Rs 10 (4.2%) . SBP   UBL announced Rs 4/- cash dividend for the quarter ending 30 Jun22.  Read Ann . Closed at Rs 113.75, up 5.3%. A strong start by  PSX .  KSE100  Index up 400 pts. Upcoming  OPEC  meeting. KIBOR  remains elevated at 15.88% Pakistan  trade deficit  for the month of July 2022 came down to  $2.64 bn  compared to $4.96bn in the May. July  cement dispatches  declined by 48% at  2mill  tons against almost 4mill tons last year. Oil  rose slightly overnight; WTI $96 Brent, $102+. Gold at $1764...
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