Intraday Report: PKR plummets by 43 paisa, 100-index down by 532 points

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By MG News | October 12, 2021 at 11:00 AM GMT+05:00

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October 12, 2021 (MLN):  The Pakistani Rupee (PKR) depreciated by 43 paisa against the US dollar (USD) in intraday trade on Tuesday on higher demand for the American currency, wrecking the traders' sentiments.

The dollar was being quoted at 170.97/ 171.17 (10:59 PST) compared to the previous day’s close of 170.74.

The rupee continued to bear the pressure despite a 17% YoY increase in remittances by overseas Pakistanis that stood at $2.7 billion in September 2021.

The NYK close on Monday added pressure on PKR while, higher exports and remittances did not come to its rescue, Asad Rizvi, the Former Treasury Head at Chase Manhattan said.

“Government is taking administrative measures after series of actions taken by the State Bank of Pakistan to check PKR slide,” he added.

On the equity front, the benchmark KSE-100 index has lost 532 points [11:14 PST] in intraday trade and is currently trading at 43,301.20.

Proposals over the implementation of a minimum global tax on technology companies on international forums put downward pressure on the local technology sector as it lost around 143.94 points. This is followed by Fertilizer, and Cement sectors that have also witnessed selling activity.

Company-wise, the scrips of AVN, SYS, PTC, TRG have endured the maximum losses.

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Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

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