State Bank shows rupee stable; stocks witness bullish trend

State Bank shows rupee stable; stocks witness bullish trend

The State Bank of Pakistan (SBP) has reported that the exchange rate of Pakistani rupee against the American dollar remained stable at Rs155.64 in the interbank.

However, the central bank said that the price of Euro in interbank depreciated by Rs 0.49 and was traded at Rs 173.19 against the last closing of Rs 173.68. The exchange rate of the Japanese Yen decreased by Rs0.01 and was traded at Rs1.42 compared to the last closing of Rs1.43.

The exchange rate of the British pound decreased by Rs0.64 and was traded at Rs200.58 compared to the last closing of Rs 201.22. The exchange rate of the UAE dirham and Saudi rayal remained stable at Rs 42.37 and Rs41.50 respectively, the bank reported.

While the Pakistan Stock Exchange (PSX) index witnessed an increase of 980.7 points during the first two trading days of the current week. On Tuesday, the KSE-100 witnessed an increase of 80.85 points and touched the benchmark of 35358.31 points while it had witnessed an increase of 899.85 on Monday, the first trading day of the week.

On Tuesday, the KSE-100 continued the bullish trend and witnessed an increase of 0.23 percent as compared to the trading of 35,277.46 points on the last trading day. A total of 308,484,510 shares were traded compared to the trade of 207,782,700 shares during the previous day, whereas the value of shares traded during the day stood at Rs 8.678 billion compared to Rs 8.480 billion during the last day.

In total, 370 companies transacted shares in the stock market on Tuesday, out of which 194 witnessed gains and 153 sustained losses whereas the share price of 23 companies remained unchanged. The three top traded companies were WorldCall Telecom with a volume of 81,714,000 shares and price per share of Rs 1.2, Maple LeafXDXR with a volume of 15,276,500 and price per share of Rs 18.15 and Lotte Chemical with a volume of 12,722,000 and price per share of Rs 16.58.

Colgate Palm recorded the maximum increase of Rs 70.25 per share, closing at Rs 1655.91 whereas Indus Motor CoXd was runner up with an increase of Rs 48.22 per share, closing at Rs 1012.76. Island Textile recorded a maximum decrease of Rs 87.15 per share, closing at Rs 43.78 whereas Sapphire Tex XD decreases Rs 43.78 per share closing at Rs 832.

On Monday, the PSX noted considerable bullish trend as KSE 100 index closed at 35,277.46 points as compared to 34,377.61 points on the last trading day, with a positive change of 899.85 points (2.62%). A total of 207,782,700 shares were traded compared to the trade of 157,118,951 shares during the previous day.

The value of shares traded during the day stood at Rs 8.480 billion compared to Rs 6.463 billion during the last trading day. In total 370 companies transacted shares in the Stock Market Friday, out of which 278 witnessed gains and 80 sustained losses whereas the share price of 12 companies remained unchanged.

Leave a Reply

Your email address will not be published.