PSX gains 300 points to close at 43,026 points

F.P. Report

ISLAMABAD: The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Wednesday, gaining 300.82 points, with a positive change of 0.70 percent, closing at 43,026.88 points against 42,726.06 points on the last working day.

A total of 278,803,100 shares were traded during the day compared to the trade of 197,916,949 shares the previous day, whereas the price of shares stood at Rs6.916 billion against Rs6.177 billion on last trading day.

As many as 345 companies transacted shares in the stock market, 245 of them recorded gain and 83 sustained losses, whereas the share price of 17 companies remained unchanged.

The three top trading companies were WorldCall Telecom with a volume of 27,075,000 shares and price per share of Rs1.54, Cnergico Pk with volume of 24,142,935 and price per share of Rs5.22 and Telecard Limited with volume of 23,218,500 and price per share of Rs11.05.

Nestle Pakistan witnessed a maximum increase of Rs89 per share, closing at Rs5790 whereas the runner up was Gatron Ind, the share prices of which climbed up by Rs28.76 to Rs448.75.

Sapphire Fiber witnessed maximum decrease of Rs76.99 closing at Rs952.01 followed by Sapphire Tex, the share price of which declined by Rs75.70 to close at Rs934.50.

Rupee extends losses against dollar

Exchange rate of Pak Rupee weakened by Rs2.65 against the US Dollar in the interbank trading on Wednesday and closed at Rs198.39 against the previous day’s closing of Rs195.74.

According to the Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs199 and Rs201 respectively.

The price of Euro was appreciated by Rs3.77 and closed at Rs208.69 against the previous day’s closing of Rs204.92.

The Japanese Yen gained two paisa to close at Rs1.53, whereas an increase of Rs2.64 was witnessed in the exchange rate of British Pound, which was traded at Rs246.05 as compared to its last closing of Rs243.41.

The exchange rates of Emirates Dirham and Saudi Riyal increased by 70 paisas to close at Rs54.01 and Rs52.88 respectively.

Gold prices increase by Rs300 to Rs138,400 per tola

The price of 24 karat per tola gold witnessed an increase of Rs300 and was sold at Rs138,400 on Wednesday against its sale at Rs138,100 in the local market.

The price of 10 gram 24 karat gold also increased by Rs258 and was sold at Rs118,656 compared to its sale at Rs118,398 whereas that of 22 karat gold also went up to Rs108,768 against Rs108,532, All Sindh Sarafa Jewellers Association reported.
The price of per tola and ten gram silver remained constant at Rs1570 and Rs1346.02 respectively. The price of gold in international market decreased by $17 and was traded at $1816 compared to its sale at $1833, the association reported.