KARACHI (News Desk): The Pakistan Stock Exchange (PSX) on Wednesday witnessed bearish trend as KSE-100 index closed at 30,971.27 points as compared to 31,231.55 points on the last working day with the negative change of 260.28 points (0.83 %). A total of 181,000,392 shares were traded compared to the trade 172,769,586 shares during the previous day, whereas the value of shares traded during the day stood at Rs5.893 billion as compared to Rs6.751 billion during last trading d ay. As many as 333 companies transacted shares in the Stock Market on Wednesday, out of which 115 recorded gain and 193 sustained losses whereas the share price of 25 companies remained unchanged. The three top traded companies were Unity Foods Ltd with a volume of 28,766,000shares and price per share of Rs9.93, Hascol petrol with a volume of 25,834,000 price per share of Rs14.85 and Pak Electron with a volume of 14,084,500 and price per share of Rs20.18. Bata (Pak) recorded maximum increase of Rs45 per share, closing at Rs1535 while Indus Dyeing was runner up with the increase of Rs36.05 per share, closing at Rs516.78. Rafhan Maize recorded maximum decrease of Rs310.81 per share, closing at Rs6389.19 whereas prices of Pak Tobacco decreased by Rs131.17 per share closing at Rs1617.82.
Rupee gains 15 paisa against $ in interbank market
Meanwhile, The exchange rate of Pakistani rupee against US dollar witnessed an increase of 15 paisa in interbank on Wednesday and traded at Rs 167.76 against Rs 167.89 on last trading day, State Bank of Pakistan reported. However, according to Forex Association of Pakistan, the buying and selling rates of Dollar in open market were recorded at Rs163.5 and Rs166 respectively. The SBP further reported that in interbank, the price of Euro depreciated by 31 paisa and traded at Rs182.05 against the last closing of Rs182.36 on last trading day. The Japanese yen remained stable at Rs1.54 whereas a decrease of 62 paisa was witnessed in the exchange rate of British Pound which was traded at Rs206.43 as compared to its last closing of Rs207.05. The exchange rates of Saudi Riyal and Arab Emirates Dirham decreased by 03 paisa each to close at Rs44.62 and Rs45.67 respectively. The Asian Development Bank has projected that Pakistan’s inflation rate would slow down to 8.3 percent in the fiscal year 2020-21. “Inflation is forecast to decelerate to 8.3% in FY2021 with the central bank expected to take further policy action to both manage inflation.