Rupee gains Rs 1.22 against US dollar


Pakistan Stock Exchange loses 724 points

The exchange rate of the Pakistani rupee strengthened by Rs 1.22 against the US dollar in the interbank trading on Friday and closed at Rs 269.28 against the previous day’s closing of Rs 270.50.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs. 273 and Rs. 276 respectively.

The price of the euro depreciated by Rs 1.18 and closed at Rs 289.23 against the previous day’s closing of Rs 290.41, according to the State Bank of Pakistan (SBP).

The Japanese yen remained unchanged to close at Rs 2.06, whereas a decrease of Rs 1.05 was witnessed in the exchange rate of the British pound, which was traded at Rs 326.15 as compared to its last closing of Rs 327.20.

The exchange rates of the Emirates dirham and Saudi riyal decreased by 33 paisa each to close at Rs 73.31 and Rs 71.75 respectively.

Meanwhile, the 100-index of the Pakistan Stock Exchange witnessed bearish trend on Friday, losing 724.81 points, a negative change of 1.71 percent, closing at 41,741.78 points against 42,466.59 points the previous day.

A total of 281,894,248 shares were traded during the day as compared to 367,356,809 shares the previous day, whereas the price of shares stood at Rs14.709 billion against Rs13.590 billion on the last trading day.

As many as 328 companies transacted their shares in the stock market; 70 of them recorded gains and 241 sustained losses, whereas the share price of 17 companies remained unchanged.

The three top-trading companies were Oil and Gas Dev. with 38,731,937 shares at Rs 101.06 per share; Hascol Petrol with 28,035,187 shares at Rs 80.01 per share, and WorldCall Telecom with 27,482,213 shares at Rs 1.27 per share.

Colgate PalmXD witnessed a maximum increase of Rs. 99.36 per share price, closing at Rs.1,464.86, whereas the runner-up was Sapphire Tex with a Rs 71.62 rise in its per share price to Rs.1,026.62.

Nestle Pakistan witnessed a maximum decrease of Rs 93.32 per share closing at Rs 5,441.67; followed by Reliance Cotton with Rs 52.50 decline to close at Rs 647.50.