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Breaking News: Dollar has reduced by 50 paisas in both open and inter-bank. In the open market, the dollar is 152 rupee 50 paisas while in inter-bank it’s 151 rupee and 45 paisas. Gold’s per unit (tola) price has also taken a hit by 400 rupees. One unit gold is now for 70 thousand 900 rupees. The Stock Exchange market experiences largest increase in a decade.
Pakistan Stock Exchange observes a hike second day in a row. Its KSE-100 index within two days observed a whopping 2100 increase of points. It closed at 35 thousand 581 points, registering an increase of 2.72%. Market capitalization also increased by a staggering amount of 100 billion Rupees.
Note: The latest points may vary from the above-mentioned digits.
Investors are remaining optimistic after the equity bailout fund was approved and the activation of deferred oil payments for Pakistan by Saudi Arabia. The analysts say that the bullish trend that Pakistan Stock Market is witnessing is due to the oil that Saudi Arabia is willing to supply to Pakistan on deferred payments. Finance Adviser Abdul Hafeez Shaikh, announced on Wednesday that for the next three years Saudi Arabia will export petroleum products worth $3.2 billion to Pakistan on deferred payments, starting from July 1st, 2019.
Also Read: 6 REASONS WHY ABDUL HAFEEZ SHAIKH IS THE PERFECT CANDIDATE FOR FINANCE MINISTER!
Economy on the road to recovery by the looks of the bullish trend says Governer Punjab Mohammad Sarwar
Pakistan Stock Exchange saw an increase of 2139 points i.e. 6.4% just over the last two days. The bullish trend indicates a recovering economy. Govt is taking stringent measures for strengthening the capital markets for long term economic & monetary stability!
— Mohammad Sarwar (@ChMSarwar) May 23, 2019
After a long run of bad news, Pakistan experiences success in the stock market
After weeks of uncertainty and pessimism, Pakistan is on the rise again with economy making steady recovery. Stock market reacting positively and Finance minister finally speaks
— Arshad Malik ?? (@arshadmmalik) May 22, 2019
Will the economy steadily and slowly recover reducing inflation and improving Pakistani rupee? Let us know in the comment section below.
Also Read: 12 UNKNOWN FACTS ABOUT PAKISTAN’S MOST PRESTIGIOUS FORCE, INTER-SERVICES INTELLIGENCE (ISI)