PSX loses 289 points to close at 44,514

F.P. Report

ISLAMABAD: The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Wednesday, losing 289.46 points, with negative change of 0.65 percent, closing at 44,514.12 points against 44,803.58 points on the last working day.
A total of 235,034,499 shares were traded during the day compared to the trade of 309,346,610 shares the previous day whereas the price of shares stood at Rs9.346 billion against Rs10.448 billion the previous day.
As many as 354 companies transacted shares in the stock market, 114 of them recorded gain and 215 sustained losses, whereas the share price of 25 companies remained unchanged.
The three top trading companies were TRG Pak Ltd with a volume of 21,922,806 shares and price per share of Rs78.72, Telecard Limited with a volume of 15,118,539 and price per share of Rs14.66 and Hum Network with volume of 12,761,275 and price per share of Rs7.41.
Nestle Pakistan witnessed a maximum increase of Rs245 per share, closing at Rs5745 whereas the runner up was Rafhan Maize, the share prices of which climbed up by Rs175 to Rs11,300.
Sapphire Tex witnessed maximum decrease of Rs79.27 closing at Rs978.93 followed by Faisal Spinning, the share price of which declined by Rs32.52 to close at Rs457.38.
Rupee sheds 21 paisas against dollar
Exchange rate of Pakistani rupee weakened by 21 paisas against the United States dollar in the interbank trading on Wednesday and closed at Rs177.62 against the previous day’s closing of Rs177.41.
According to the Forex Association of Pakistan (FAP), the buying and selling rates of US dollar in the open market were recorded at Rs177 and Rs178.6 respectively.
Similarly, the price of the euro was depreciated by Rs1.84 and closed at Rs196.91 against the previous day’s closing of Rs198.75.
The Japanese Yen remained unchanged to close at Rs1.54, whereas a decrease of Rs2.15 was witnessed in the exchange rate of British Pound, which was traded at Rs235.97 as compared to its last closing of Rs238.12.
The exchange rates of Emirates Dirham and Saudi Riyal increased by 05 paisas to close at Rs48.35 and Rs47.34 respectively.
Gold prices increase by Rs50 to Rs128,800 per tola
The price of 24 karat per tola gold witnessed an increase of Rs50 and was sold at Rs128,800 on Wednesday against its sale at Rs128,750 in the local market the previous day.
The price of 10 gram 24 karat gold also increased by Rs43 to Rs110,425 from Rs110,382 whereas that of 10 gram 22 karat went up to Rs101,223 from Rs101,184, All Sindh Sarafa Jewellers Association reported.
The price of per tola silver increased by Rs10 and was trade at Rs1480 against its sale at Rs1470 whereas that of 10 gram silver increased by Rs8.58 and was traded at Rs1268.86 compared to Rs1260.28 the previous day.
The price of gold in international market increased by $6 and was traded at US$ 1928 against its sale at US$ 1922, the association reported.