US CG lauds PSX for symbolizing national economy
Karachi—Pakistan Stock Exchange which has proved one the best performing bourses on the capital market map of the world attracting global diplomats for symbolizing the national economy. In this respect a US diplomat has said that the economic relations between Pakistan and United States will remain as strong as ever, US Consul General in Karachi Grace Shelton made the statement while visiting Pakistan Stock Exchange.
She said that US government is striving hard for improving Pakistan’s economy and promoting the business activities of the country. Shelton added that Pakistan Stock Exchange symbolizes the development of the national economy.
The US consul general congratulated the Pakistan Stock Exchange of becoming part of MSCI Index. She also said that the largest foreign investment to Pakistan comes from the United States. Meanwhile the KSE-100 Index currently in a corrective spell slightly dipped by 8 points to close in red at 41,412 levels amid all market share volume of 440 million shares on Thursday.
The top performer of the day was the Bank of Punjab with a trade volume of 64 million to their credit. The second and third volume leaders were Aisha Steel and Askari Bank with respective trade of 18 million and 17 million to their credit. The international crude oil prices fell about 2% in the previous session after OPEC report showed that its production had climbed to the highest level in eight years despite producers agreeing to limit their production. In addition, API reported a rise in oil stocks by 2.7mnbbl, first increase in inventories after five straight weeks of declines. However, participants await US crude oil inventories later in the day.