On Thursday, the 100-index of the Pakistan Stock Exchange (PSX) experienced a downturn, shedding an additional 6,482.21 points—a decline of 5.89%. It finished at 103,526.82 points compared to the previous session’s close of 110,009.03 points.
During the day, a total of 653,550,383 shares were exchanged compared to 550,076,224 shares from the prior trading session. The value of these shares was recorded at Rs35.437 billion, up from Rs30.121 billion on the last trading day.
As many as 450 companies transacted their shares in the stock market. 35 of them recorded gains and 373 sustained losses, whereas the shares prices of 42 companies remained unchanged.
The leading three trading firms included WorldCall Telecom with 93,253,525 shares priced at Rs1.10 each, followed by Kohinoor Spinning with 28,484,361 shares valued at Rs3.94 apiece, and K-Electric with 27,065,550 shares quoted at Rs3.92 respectively.
PIA Holding Company Limited experienced the highest surge of Rs 639.28 per share, finishing at Rs 7,032.03, followed closely by Khyber Textile Mills Limited which saw an uplift of Rs 60.73 in its share price to end at Rs 668.07.
Unilever Pakistan Foods Limited experienced the steepest drop, with its share price decreasing by Rs450.54 to close at Rs22,080.75. In second place was Rafhan Maize Products Company Limited, which saw its share price fall by Rs172.44 to end at Rs8,652.00.
Gold price slumps by Rs4,200 per tola
The price of 24 karat per tola gold witnessed a decrease of Rs4,200 on Thursday and was sold at Rs352,700 against its sale at Rs356,900 on the previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.
The cost of 10 grams of 24-karat gold dropped by Rs3,601 to reach Rs302,383 from Rs305,984. Meanwhile, the price for 10 grams of 22-karat gold fell by Rs3,301, going down to Rs277,194 from Rs280,495.
The cost of per tola silver dropped by Rs65 to reach Rs3,417, while ten-gram silver fell by Rs56 to settle at Rs2,929. Additionally, the global price of gold went down by $42 to end up at $3,343 from $3,385, with silver prices falling by $0.65 to finish at $32.35, as stated by the Association.
The rupee loses 4 paisa against the dollar.
On Thursday, the rupee weakened by 04 paisa compared to the US dollar in the interbank market and finished at Rs281.51, down from Wednesday’s close of Rs281.47.
Nonetheless, as per the Forex Association of Pakistan (FAP), the purchasing and selling rates for the US dollar in the open market were recorded at Rs281.75 and Rs283.25 correspondingly. According to data from the State Bank of Pakistan (SBP), the value of the euro dropped by Rs1.80, concluding at Rs318.02 compared to the previous day’s closure of Rs319.82.
The Japanese yen dropped by 01 paisa and finished at Rs1.95, while the exchange rate for the British Pound fell by Rs1.67, ending at Rs374.12 from the previous day’s closure of Rs375.79. Meanwhile, both the Emirates Dirham and the Saudi Riyal saw slight increases; the former rose by 01 paisa to close at Rs76.64, and the latter went up by 02 paisas to end at Rs75.05.
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