Pakistan’s stock market, PSX, took a hit in the previous business week, influenced by the ongoing Middle Eastern conflict. The Pakistan Stock Exchange (PSX) saw a negative trend throughout the week. The KSE-100 index closed at 153,866 points, down 3,629 points from the previous week’s close of 157,177 points. During the week, the KSE-100 index traded within a 14,505-point range, with its highest weekly close at 158,624 points and the lowest at 144,119 points. The market saw a total of 2.25 billion shares change hands, worth Rs 132 billion. The market capitalization declined by Rs 369 billion to Rs 1.73 trillion over the week.
The price of gold continued to fall in the country’s currency markets, marking its third consecutive day of decline. The Pakistan Petroleum Division announced that petroleum products will remain at their current prices. However, a ban has been imposed on the sale of petroleum products in bottles and gallons in the district of Karachi.
In a statement, the Securities and Exchange Commission of Pakistan announced that the limit for investment through a ease account has been increased to Rs 30 million from Rs 20 million. Gold prices continued to fall in the country’s currency markets for the second consecutive day. Pakistan and the International Monetary Fund (IMF) have released a statement regarding their recent discussions.
In a warning, the Governor of the Bank of France, François Villeroy de Galhau, has cautioned against introducing new subsidies to mitigate the effects of rising fuel prices. The OGRA announced that the prices of liquefied petroleum gas (LPG) will be fixed on the first day of every month. The price of gold rose to Rs 5,43,262 after an increase of Rs 3700. The S&P BSE Sensex of India increased by 0.4% to 77,897 points.
In other news, a local cricket player, Sarfaraz Ahmed, has been honored for his valuable services to Pakistan cricket. The Iranian Revolutionary Guard Corps has claimed that they have attacked multiple targets in the region, including US military bases in the UAE and Saudi Arabia, using multi-platform, multi-target missiles.
Note: The article has been rewritten to maintain a neutral tone and provide a clear summary of the events described in the original Urdu article.
