ISLAMABAD (APP): The PSX Tuesday noted bearish trend as KSE 100 index lost 19.63 points (0.06%) to close at 31908.92 points. A total of 122,012,850 shares were traded compared to the trade of 104,605,660 shares the previous day, whereas the value of shares traded during the day stood at Rs 5.199 billion compared to Rs 4.980 billion last day. Out of 363 companies, share prices of 174 companies recorded increase while 170 companies registered decrease whereas 19 companies remained stable in today’s trading.
The three top traded companies were Pak Elektron with a volume of 16,754,500 shares and price per share of Rs16.14, Maple Leaf with a volume of 10,262,500 and price per share of Rs16.49 and DGK Cement with a volume of 7,316,000 and price per share of Rs 47.13. The top advancer was Bata (Pak) with the increase of Rs60 per share, closing at Rs1260 while Pak Services was runner up with the increase of Rs40 per share, closing at Rs1060. The top decliners were Nestle Pakistan XD with the decrease of Rs247.24 per share, closing at Rs5642.76 and Gatron Ind with the decrease of Rs23.35 per share closing at Rs443.65.
Meanwhile, – The Pakistani rupee continued to depreciate against the US dollar in the interbank market on Tuesday and closed at Rs156.50 after losing 24 paisa. In the open market, the greenback remain unchanged and closed at Rs156.40. Yesterday, the local currency lost its strength by 5 paisa against the greenback and closed at Rs156.24 in the interbank market. In the open market, the dollar remained unchanged and closed at Rs156.40. Economists expressed fears that the rising oil prices in the international market after attacks on Saudi Arabia’s state-owned Aramco oil facilities would adversely affect the rate of US dollar. They termed the development as “bad omen for Pakistan’s economy.”
On Friday, the local currency had recovered by 40 paisa against the greenback and closed at Rs156.30 in the open market. In the last two months, the local currency had recovered significantly against the greenback in the interbank market. Currency traders were of the view that the increasing inflows of remittance in have supported the local rupee in the market. In the earlier weeks, the rupee was observed to cumulatively depreciate against the greenback, which in turn had resulted in increased prices of goods and hardships for the general public.