Business

PSX gains 258 points, closing at 42,716 points

Written by The Frontier Post

F.P. Report

ISLAMABAD: The KSE 100-index of the Pakistan Stock Exchange (PSX) on Thursday witnessed bullish trend, gaining 258.83 points, a positive change of 0.61 percent, closing at 42,716.97 points against 42,458.14 points on the last working day.

A total of 349,488,911 shares were traded during the day compared to the trade of 266,090,670 shares the previous day, whereas the price of shares stood at Rs10.136 billion against Rs8.468 billion on last trading day.

As many as 347 companies transacted shares in the stock market, 235 of them recorded gain and 87 sustained losses, whereas the share price of 25 companies remained unchanged.

The three top trading companies were Cnergyico Pk with a volume of 37,401,104 shares and price per share of Rs5.78, Pak Refinery & nbsp; with volume of 29,344,626 and price per share of Rs19.54 and K-Electric Ltd with volume of 27,961,000 and price per share of Rs2.85.

Bata (Pak) witnessed a maximum increase of Rs150.33 per share, closing at Rs2,166.83 whereas the runner up Mehmood Textiles, the share prices of which climbed up by Rs56.26 to Rs806.48. Sapphire Fiber witnessed maximum decrease of Rs83.08 per share closing at Rs1,027.02 followed by Thai Ind. Corp, the share price of which declined by Rs21.74 to close at Rs268.25.

Rupee rebounds on positive news of Chinese loan, IMF programme

Exchange rate of Pak Rupee rebounded on Thursday in the wake of good news of loan from China and a possible deal with the International Monetary Fund (IMF) as the PKR recovered Rs4.70 against the US Dollar in the interbank trading and closed at Rs207.23 against the previous day’s closing of Rs211.93.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs206.5 and Rs209.5 respectively.
The price of Euro was depreciated by Rs5.01 and closed at Rs217.73 against the previous day’s closing of Rs222.74.

Meanwhile, Japanese Yen lost three paisas to close at Rs1.52, whereas a decrease of Rs6.61 was witnessed in the exchange rate of British Pound, which was traded at Rs252.20 as compared to its last closing of Rs258.81.

The exchange rates of Emirates Dirham and Saudi Riyal decreased by Rs1.26 to close at Rs56.41 and Rs55.22 respectively.

Gold price decreases by Rs.4600 to Rs.140,700 per tola

The price of 24 karat per tola gold witnessed a decrease of Rs.4600 per tola and was sold at Rs.140,700 on Thursday against its sale at Rs.145,300 the previous day in the local market.

The price of 10 gram 24 karat fold also decreased by Rs.3943 and was sold at Rs.120,628 against its sale at Rs.124,571 whereas the prices of ten gram 22 karat gold also declined to Rs.110,575 against its sale at Rs114,190, All Sindh Sarafa Jewellers Association reported.

The price of per tola and ten gram silver remained stagnant at Rs1560 and Rs1,337.44 respectively.

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The Frontier Post

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