PSX hits another record, crosses 58,000 barrier

The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Wednesday, gaining 827.17 points, a positive change of 1.44 per cent, closing at 58,198.76 points against 57,371.59 points the previous trading day.

A total of 596,217,827 shares valuing Rs22.054 billion were traded during the day as compared to 1,012,258,472 shares valuing Rs19.338 billion the previous day.

As many as 389 companies transacted their shares in the stock market; 236 of them recorded gains and 136 sustained losses, whereas the share price of 17 companies remained unchanged.

Read more: PSX forecast to surge 30% by Dec 2024

The three top-trading companies were WorldCall Telcom with 50,345,392 shares at Rs.1.64 per share, Fauji Fert Bin with 23,277,000 shares at Rs.22.94 per share and Fauji Foods Ltd with 20,177,342 shares at Rs.8.99 per share.

Ismail Ind witnessed a maximum increase of Rs.60.47 per share price, closing at Rs.866.72, whereas the runner-up was Siemens Pak with a Rs.50.40 rise in its per share price to Rs812.40.

Colgate Palm witnessed a maximum decrease of Rs.225.22 per share closing at Rs10,324.78, followed by Philip Morris Pak with a Rs.20.00 decline to close at Rs.516.00.

Meanwhile, the Pakistani rupee gained 66 paisa against the US dollar in the interbank trading and closed at Rs285.12 against the previous day’s closing at Rs 285.78.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs283.65 and Rs286.5 respectively.

Also read: PSX remains on record breaking spree

The price of the Euro decreased by Rs1.96 to close at Rs 311.32 against the last day’s closing of Rs 313.28, according to the State Bank of Pakistan (SBP).

The Japanese Yen lost 02 paisa to close at Rs 1.91; whereas a decrease of 85 paisa was witnessed in the exchange rate of the British Pound, which traded at Rs 357.31 as compared to the last closing of Rs 358.16.

The exchange rates of the Emirates Dirham and the Saudi Riyal decreased by 18 paisa each to close at Rs 77.63 and Rs 76.01 respectively.