The Pakistan Stock Exchange witnessed a volatile trend on the fourth day of the trading week, with the 100-index witnessing a 224-point surge during trading hours, taking the index to 166,735 points. This comes after the index closed at 165,673 points on the previous day.
According to LGPEA leader Ali Haider, the price drop is a result of improved LPG supply. The Pakistani rupee weakened against the US dollar, with the interbank rate falling to 279.04 rupees per dollar, down from 279.05 rupees on the previous day.
The gold prices in Pakistan’s currency markets saw a reversal, with the prices of gold plummeting. Despite the ceasefire in the US, Iran, and Israel, Asian stock markets are seeing a negative trend. The State Bank of Pakistan reported a 16.5% monthly decline and a 5.5% annual decline in remittances. Industry sources have reported a 15% decline in crude oil prices.
The All Pakistan Saraf Diamond Association reported that the price of gold per tola increased by 15,700 rupees, reaching 504,162 rupees. The government claims to have secured over $5 billion in aid from two friendly countries.
Prime Minister Shehbaz Sharif spoke with Qatari Emir Sheikh Tamim bin Hamad Al Thani over the phone. Saudi Arabia’s Crown Prince Mohammed bin Salman has announced plans to limit the number of cars in his official motorcade. Israeli Finance Minister Bezalel Smotrich announced plans to expand Israel’s borders after the war. Israeli Finance Minister Bezalel Smotrich laid the foundation stone for new settlements in the occupied West Bank.
Lebanese President Michel Aoun announced that direct talks with Israel have begun. Pakistani cricketer Babar Azam became the first Pakistani batsman to score 12,000 runs in 338 innings, breaking Chris Gayle’s record.
According to Israeli Prime Minister Benjamin Netanyahu, the talks will focus on disarming Hezbollah and establishing peaceful relations between Israel and Lebanon.
