The Pakistan Stock Exchange (PSX) witnessed a negative trend on its second trading day of the week, with the 100 Index plummeting by 1595 points to stand at 1,49,612. The 100 Index had closed at 1,50,398 points on the last trading day of the previous week. During the trading session, the 100 Index touched a low of 1,49,129 points and a high of 1,50,613 points.
The value of gold in the country dropped slightly after a marginal increase earlier in the week. The government has sought opinions from the public and stakeholders, including Nepra. The prices of different benchmark indices increased due to the surge in prices. Over the past year, petrol prices have risen by 48.61%, and diesel prices by 101.18%.
According to sources at the Ministry of Commerce, the country’s textile imports have shown a monthly increase. The local currency has seen a surge in value in Pakistan’s currency markets, with the government claiming that it has secured a commitment of over $5 billion from two friendly countries.
Gas supply will be suspended from 10 am to 12 pm today. The 100 Index had closed at 1,50,398 points on the last trading day of the previous week. The value of the Iranian currency has increased in Pakistan due to the ongoing war between Iran and the US-backed Israel. The government has announced a crackdown on dealers and shopkeepers selling LPG at inflated prices.
Consumers claim that the price of LPG has increased by over Rs 200 per kilogram, with the price reaching Rs 530 per kilogram in the district. The PSX saw a decline of 1308 points in the 100 Index during the previous trading week, closing at 150,398 points. Vice Chairman of the All Pakistan Petroleum Pump Association, Nauman Butt, expressed concerns over the surge in petroleum product prices.
The Federal Bureau of Statistics released a weekly report on inflation. According to an American newspaper, Iranian officials claim that Pakistan has been informed about the decision. Iranian Supreme Leader, Ayatollah Ali Khamenei, stated that the threats and destruction of infrastructure are a sign of the aggressors’ desperation.
Saudi Arabia has maintained a calm and cautious stance despite the provocations: Commander’s Conference. US Vice President, JD Vance, stated that he expects a response from Iran before 8 pm tonight. A prominent American magazine warned of the risks to the global financial balance due to the war in Iran.
