Staff Report
ISLAMABAD: Pakistan Stock Exchange (PSX) witnessed a bearish trend on Wednesday, followed by some unpleasant news from the currency market, where the Pakistani Rupee experienced further depreciation.
On Wednesday, the 100-index lost 97.60 points with a slight negative change of 0.24 percent and closed at 40,412.77 points compared to 40,510.37 points on Tuesday.
A total of 167,399,748 shares were transacted during the day against 126,319,112 shares on Tuesday, while the price of shares stood at Rs.9.282 billion compared to Rs.5.648 billion on the previous trading day.
As many as 320 companies traded their shares in the stock market; 110 of them recorded gains and 178 sustained losses, while 32 companies traded their shares without change.
Shares value at Pakistan Stock Exchange
The three top-trading companies were WorldCall Telecom, Hub Power Co.and Maple Leaf, with 20,211,767 shares at Rs.1.31 per share, 7,963,118 shares at Rs.70.48 per share, and 7,500,828 shares at Rs.24.22 per share respectively.
Unilever Foods witnessed a maximum appreciation of Rs.498.00 per share price, closing at Rs.22,998.00, whereas the runner-up was Nestle Pakistan, with an increase of Rs.224.00 in its per share price to Rs.2,464.00.
Premium Tex witnessed a maximum decline of Rs.42.82 per share, closing at Rs.528.18, followed by Sanofi-Aventis, with a decrease of Rs.39.00 to close at Rs.681.00.
Meanwhile, the Pakistan rupee witnessed a major depreciation of Rs 4.61 against the American dollar in the interbank trading on the same day and closed at Rs 266.11 compared to its last day’s closing of Rs 261.50.
As reported by the Forex Association of Pakistan (FAP), the buying and selling rates of the US dollar in the open market were recorded at Rs 267 and Rs 269.6, respectively.
The price of the Euro was appreciated by Rs 5.82 and closed at Rs 283.08 compared to the last day’s closing of Rs 277.22, according to Pakistan’s central bank, SBP.
The Japanese Yen experienced a gain of 04 paisa to close at Rs 1.95, while the British Pound witnessed an increase of Rs 6.69 and was traded at Rs 321.52 against Rs 314.83. the previous day.
The Emirates Dirham and Saudi Riyal’s exchange rates increased by Rs 1.26 and Rs 1.23 to close at Rs 72.45 and Rs 70.90, respectively.
