Rupee slides by Rs2.38 in interbank

32

PSX loses 245 points, closing at 41,102 points

The rupee fell against the US dollar on Tuesday, depreciating by Rs2.38 in the interbank market.

The State Bank of Pakistan (SBP) said the dollar closed at Rs206.94, up from the previous day’s close of Rs204.56, which translates into a depreciation of 1.15 per cent for the rupee. Zafar Paracha, the secretary general of the Exchange Companies Asso­ciation of Pakistan, said the main reason for the rupee remaining under pressure was “speculation by banks in the interbank, who are wary because the country has still not received a loan from the International Monetary Fund (IMF)”.

The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Tuesday, losing 245.62 points, a negative change of 0.59 percent, closing at 41,102.57 points against 41,348.19 points on the last working day.

A total of 76,890,619 shares were traded during the day compared to the trade of 86,619,229 shares the previous day, whereas the price of shares stood at Rs 2.398 billion against Rs 3.048 billion on last trading day.

As many as 321 companies transacted shares in the stock market, 119 of them recorded gain and 176 sustained losses, whereas the share price of 26 companies remained unchanged.

The three top trading companies were Maple leaf with a volume of 6,536,342 shares and price per share of Rs 25.44, WorldCall Telecom with volume of 4,790,000 and price per share of Rs 1.37 and Fauji Cement with volume of 4,430,000 and price per share of Rs 13.47. Allawasaya Tex witnessed a maximum increase of Rs 114.40 per share, closing at

Rs 1,639.82 whereas the runner up was Safofi-Aventis, the share prices of which climbed up by Rs 92.59 to Rs 1,327.20.

 

Previous articlePakistan highly values its brotherly relations with Turkey: COAS
Next articlePower shortfall in country exceeds 6,000 MW