Daily Times

The Pakistan Stock Exchange (PSX) has set a new record crossing the 83,000-point mark for the first time in history.

The market surged by 282 points in Friday’s trading session reaching 83,003 points.

The achievement reflects growing investor confidence and marks a significant performance in the stock market. The PSX’s steady climb in recent months has been fueled by favorable economic policies and robust corporate earnings, positioning the stock exchange as a key player in the region’s financial markets.

The stock market rose 452 points to touch a record high of 83174 points during trading. The member of PSX said Bluechips shares including oil and gas are also available at low prices.

“Stock market can make a record of 100,000 points this year,” Munir Khanani said.

SBP Injection: State Bank of Pakistan (SBP), Friday, injected Rs1,012.3 billion in the market through reverse repo purchase Open Market Operation (OMO).

According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on October 4, 2024 for 7-day and 28-day tenors and accepted 11 bids totaling to Rs1,012.3 billion.

The central bank received 9 bids for 7-day tenor cumulatively offering an amount of Rs882.3 billion at the rate of return ranging between 17.56 to 17.65 percent while 2 bids amounting to Rs130 billion were received for the 28-day tenor at the rate of return ranging between 17.60 to 17.61 %.

The central bank accepted all the 9 quotes worth Rs882.3 billion for the 7-day tenor at 17.56% rate of return while the 2 bids for 28-day tenor amounting to Rs130 billion were accepted at 17.60% rate of return. The SBP, meanwhile, also conducted Shariah Compliant Mudarabah based Open Market Operation for the 7-day and 28-day tenors but no bid was received for both the tenors.

Inflation: The weekly inflation, measured by the Sensitive Price Indicator (SPI), witnessed an increase of 0.44 percent for the combined consumption groups during the week ended on October 03, the Pakistan Bureau of Statistics (PBS) reported on Friday. According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 319.17 points as compared to 317.76 points during the past week.

As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 13.18 per cent.

The weekly SPI with the base year 2015-16 =100 covers 17 urban centres and 51 essential items for all expenditure groups.

Likewise, SPI for the lowest consumption group of up to Rs 17,732 witnessed increase of 0.68 per cent and went up to 313.20 points from last week?s 311.09 points.

The SPI for consumption groups of Rs 17,732 to 22,888; Rs 22,889-29,517; Rs 29,518-44,175 and above Rs 44,175, increased by 0.63 percent, 0.53 percent, 0.49 percent and 0.36 percent respectively.

During the week, out of 51 items, prices of 21 (41.18%) items increased, 10 (19.61%) items decreased and 20 (39.21%) items remained stable.

The items, which recorded major decrease in their average prices on a week-on-week basis included eggs (1.45%), sugar (1.39%), diesel (1.32%), bananas (1.29%), potatoes (1.08%), petrol (0.81), pulse mash (0.80%), gur (0.59 %), rice basmati broken (0.53%) and pulse masoor (0.38%).