Rupee down by 44 paisa against dollar
The 100-index of the Pakistan Stock Exchange declined by 172.59 points on Wednesday, showing a negative change of 0.41 per cent, closing at 41,833.66 points against 42,006.32 points the previous day.
A total of 125,528,650 shares were traded during the day as compared to 196,243,549 shares the previous day, whereas the price of shares stood at Rs 3.540 billion against Rs 5.768 billion on the last trading day. As many as 316 companies transacted their shares in the stock market; 116 of them recorded gains and 117 sustained losses, whereas the share price of 23 companies remained unchanged.
The three top-trading companies were WorldCall Telecom with 18,427,010 shares at Rs 1.13 per share, Fauji Foods Ltd with 8,460,761 shares at Rs 6.60 per share, and Hum Network with 6,055,000 shares at Rs 5.79 per share.
Nestle Pakistan witnessed a maximum increase of Rs 150.01 per share price, closing at Rs 5950.00, whereas the runner-up was Rafhan Maize XD with a Rs 149.99 rise in its per share price to Rs 8349.99.
Sapphire Fiber witnessed a maximum decrease of Rs 86.92 per share closing at Rs 1072.08, followed by Bhanero Tex. with a Rs 78.58 decline to close at Rs 976.00.
Meanwhile Pakistani rupee witnessed 44 paisas devaluation against US Dollar (USD) in the interbank trading on Wednesday and closed at Rs 285.40 against the previous day’s closing of Rs 284.96.
According to the Forex Association of Pakistan (FAP), the buying and selling rates of Dollars in the open market were recorded at Rs 292 and Rs 296, respectively.
The price of the Euro decreased by Rs 1.27 to close at Rs. 309.20 against the last day’s closing of Rs. 310.47, according to the State Bank of Pakistan (SBP).
The Japanese Yen came down by 01 paisa and closed at Rs 2.08, whereas a decrease of Rs. 2.12 was witnessed in the exchange rate of the British Pound, which traded at Rs. 354.85 as compared to its last day’s closing of Rs. 356.97.
The exchange rate of the Emirates Dirham and the Saudi Riyal went up by 12 paisas each to close at Rs. 77.72 and Rs. 76.10, respectively.