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PSX opens week on flat note

The Pakistan Stock Exchange (PSX) fell flat on Monday, with the benchmark KSE-100 Index losing a modest 17 points to close at 43,931 points.

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The index opened higher and peaked at 44,244 before beginning to lose points to touch a day’s low of 43,838 points shortly before trading closed.

“The market opened with news of the third round of rupee devaluation in the inter-bank market, with the exchange rate reportedly crossing Rs121.5 against greenback. Export-oriented sectors such as textiles (+1.3pc) and sectors that have dollar-linked revenues such as exploration and production (+1.1pc) and power (+1.5pc) came in limelight and traded higher,” Elixir Securities noted.

Daily Stock Market Report:

 

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