KARACHI: The Pakistan Stock Exchange again lost 43,000 level after shedding 268 points to drop to 42999 level till midday on Monday.
The stocks started week on positive note and added 62 points to reach 43329 level in early trading.
Last week, the equities remained volatile reports on FATF’s watch list and the Supreme Court’s judgment of toppling former prime minister Nawaz Sharif as president of PML-N party.
On the sector front; Commercial Banks and Cement cumulatively took away 250 points from the index. Foreigners were net sellers of $2.8million worth of shares during the week vs. selling of $16million during last week. On the local front, Insurance were net buyers of $14.5million whereas Individuals were net sellers of $11.2 million.
During the week, the country’s total liquid foreign exchange reserves fell by $139.4 million during last week owing to external debt payments. According to State Bank of Pakistan (SBP), the country’s forex reserves declined to $18.829 billion as on February 16, 2018 compared to $18.968 billion on February 9, 2018.
Current account deficit surged 48 percent YoY to $9.2billion in 7MFY18 after imports accelerated while crude prices surged, as per data released by State Bank of Pakistan (SBP).
