The Securities and Exchange Commission of Pakistan (SECP) has announced that the trading limit for convenience accounts in the stock market has been increased from PKR 10 million to PKR 30 million. The SECP has stated that retail investors can now open convenience accounts with more than one broker, and these accounts can be opened online using their identification cards.
According to the SECP’s statement, the total number of individual investors in the stock market has reached 542,000, while the number of investor accounts and Roshan Digital Accounts has reached 144,000. The SECP has urged young investors to invest in the capital market through ease accounts and avoid investing in unauthorized foreign investment platforms.
In other market news, the prices of gold in Pakistan’s currency markets have continued to decline for the third consecutive day. The Oil Division has announced that petroleum products will remain at their current prices until further notice. A ban has been imposed on the sale of petroleum products in bottles and gallons in the district of Kark.
The Karachi Stock Exchange (KSE) has closed the last business week with a negative trend. The prices of gold in Pakistan’s currency markets have continued to decline for the second consecutive day. Pakistan has launched a new feeder service from its Karachi Port to the United Arab Emirates.
A notification from the Oil Division has stated that the price of liquefied natural gas (LNG) on the Sui Southern System will increase by $2.26 per million British thermal units (MMBTU). The price of 10 grams of gold in Pakistan has declined by PKR 2486 to PKR 463,273.
The US administration has announced that it will investigate alleged unfair trade practices by 16 major trading partner countries, including China, India, and Bangladesh. The investigations may result in the imposition of new import duties by the end of the summer season.
A statement has been issued after recent talks between the Pakistani delegation and the International Monetary Fund (IMF). The Governor of the French Central Bank, Francois Villeroy de Galhau, has warned that the country’s financial situation requires avoiding new subsidies to counter the increasing fuel prices. According to a statement, the price of liquefied petroleum gas (LPG) will be determined every month on the first day of the month, while the price of petrol will be increased by PKR 3700 to PKR 54,326.2. The benchmark S&P BSE Sensex in India has increased by 0.4% to 77,897 points.
In international news, the Iranian Revolutionary Guard Corps (IRGC) has claimed that it has launched missile and drone attacks on American airbases in the UAE and Saudi Arabia. In cricket news, former captain Sarfaraz Ahmed has been honored with an honorary shield for his services to Pakistan cricket.
