The Pakistani stock market has witnessed an unprecedented growth of 14,138 points in the KSE-100 index, marking a 9.3% increase in the business-to-business (B2B) transactions. This remarkable surge has taken the index to a historic high of 1,65,811 points, with a staggering 54 billion rupees being traded in the market.
The latest development comes after a two-week ceasefire between the United States and Iran, which has had a positive impact on the global markets. The State Bank of Pakistan has announced a 16.5% decrease in remittances on a monthly basis and a 5.5% decrease on an annual basis. Additionally, the prices of crude oil have seen a significant decline of up to 15%.
The precious metal market has also seen a surge, with the price of gold increasing by 15,700 rupees per tola to reach 504,162 rupees. However, the price of gold has decreased slightly in the local market.
The government has announced that it has secured over 5 billion dollars in aid from two friendly countries. The government has also announced that it will conduct operations against dealers and shopkeepers selling liquefied petroleum gas (LPG) at inflated prices.
Prime Minister Shehbaz Sharif has expressed concerns that ceasefire violations are affecting the spirit of the peace process. In a separate development, US President Donald Trump has announced that negotiations with Iran will commence soon, while Iranian Foreign Minister Abbas Araghchi has spoken with Chief of Army Staff General Syed Asim Munir Ahmed Jan.
The global market has seen a decline in the prices of crude oil, with a 21% decrease in the price of Brent crude. In a separate development, the Islamabad administration has announced two public holidays on April 9 and 10.
In a tragic incident, the wife of Andhra Pradesh’s Deputy Chief Minister and actor Poonam Kalyan has spoken about the fire that broke out in a Singaporean building last year, which resulted in the death of her son, Mark Shankar.
