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Pakistan - Market factors to watch - March 20
March 20, 2012 / 3:27 AM / 6 years ago

Pakistan - Market factors to watch - March 20

ISLAMABAD, March 20 (Reuters) - Following is a list of events in Pakistan as well as news stories and press reports which may influence financial markets.

(Reuters News welcomes your feedback and for any queries please contact Michael Georgy in Islamabad editorial on +92-51-281-0017 or via email micheal.georgy@thomsonreuters.com or on Reuters messaging michael.georgy@thomsonreuters.com)

MARKET SNAPSHOTS

* The rupee ended firmer at 90.62/70 to the dollar on Monday, compared with Friday’s close of 90.74/78.The rupee had been supported by remittances from overseas Pakistanis, which rose 23.4 percent to $8.59 billion in the first eight months of the 2011/12 fiscal year, compared with $6.96 billion in the same period last year.

* The Karachi Stock Exchange (KSE) benchmark 100-share index fell 1.65 percent, or 219.40 points, to end at 13,077.72 points on Monday. Volume fell to 256 million shares, compared with 426.21 million traded on Friday.

* Foreign investors bought shares worth a net $585,134 on Monday.

* The benchmark S&P 500 extended its rally on Monday to climb within 10 percent of its historic closing high, after Apple said it would pay a $10 billion annual dividend and buy back stock. The Dow Jones industrial average edged up 6.51 points, or 0.05 percent, to 13,239.13 at the close. The S&P 500 Index gained 5.58 points, or 0.40 percent, to 1,409.75. The Nasdaq Composite rose 23.06 points, or 0.75 percent, to 3,078.32.

* Brent crude prices edged lower on Monday on rising output from Saudi Arabia and Libya, while refinery problems helped push U.S. crude higher. Brent May crude fell 10 cents to settle at $125.71. It fell intraday to $124.82, finding support just below the 10-day moving average of $124.88. U.S. April crude rose $1.03 to settle at $108.09 a barrel, having swung from $106.55 to $108.24, testing below the 20-day moving average of $106.85 intraday. The April contract expires at the end of Tuesday’s session. U.S. May crude gained 98 cents to settle at $108.56.

* Spot gold edged up on Tuesday, extending gains into a fourth consecutive session, as a weaker dollar helped support prices. Gold went up 0.2 percent to $1,662.85 an ounce by 0045 GMT, on course for its fourth session of straight gains.

* To see announcements of the Pakistan central bank’s regular open market operations, please click on. FOR A SPEED GUIDE ON PAKISTAN, CLICK ON

FOR PAKISTAN ECONOMIC INDICATORS, CLICK ON

FOR PAKISTAN OPEN MARKET CURRENCY RATES, CLICK ON

FOR PAKISTAN COTTON RATES, SEE

FOR PAKISTAN PORT ACTIVITY, CLICK ON

FOR KEY GLOBAL ECONOMIC NEWS, SEE

FOR AN OUTLOOK OF ASIAN STOCK TRADING, CLICK ON

TOP NEWS ON ASIAN COMPANIES

FOR ECONOMIC FX RELATED NEWS, HIT

FOR WHAT INVESTORS ARE SAYING ABOUT DEALS

STOCKS - BUY OR SELL?

IN THE NEWS REUTERS PAKISTAN (Click on )

* Pakistan July-Feb c/a deficit widens

* Pakistan okays 1 mln T wheat barter deal with Iran

* US mulls changes to controversial Afghan night raids (Compiled by the Islamabad Newsroom)

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