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.
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: