Bloodbath at PSX: Benchmark index sheds 2,134 points
The decline is largest fall in calendar of 2021.
ISLAMABAD (Dunya News) – The Pakistan Stock Exchange (PSX) on Thursday witnessed a bearish trend by losing over 2000 points during trading as the market takes pressure on the economical front.
According to details, the decline is largest fall in calendar of 2021 and third largest decline in a session ever. Due to panic selling across the board in the domestic bourse, the benchmark KSE-100 index plummeted by 4.71% to close at 43,234.15 level.
The index remained negative throughout the session touching an intraday low of 43,089.07
Of the 96 traded companies in the KSE100 Index, 1 closed up 93 closed down, while 2 remained unchanged. Total volume traded for the index was 213.44 million shares.
Sector-wise, the index was let down by Commercial Banks with 360 points, Cement with 314 points, Oil & Gas Exploration Companies with 240 points, Technology & Communication with 212 points and Fertilizer with 204 points.
Total companies traded were 365 compared to 337 from the previous session. Of the scrips traded 16 closed up, 338 closed down while 11 remained unchanged.
On the other hand, US Dollar closes at highest level in history against PKR after the exchange rate of US Dollar strengthened by 94 paisa in the interbank on Thursday against Pakistani rupee.
The greenback closed at Rs176.42 on fourth business day of the week compared to previous closing of Rs175.48.
Meanwhile, the price of euro appreciated by 89 paisa and closed at Rs199.58 against the last working day’s trading of Rs198.69 the State Bank of Pakistan reported.
The Japanese Yen closed at Rs1.56, whereas an increase of 62 paisa was witnessed in the exchange rate of British Pound, which was traded at Rs234.35 as compared to its last closing of Rs233.73.
The exchange rates of Emirates Dirham and Saudi Riyal appreciated by about 26 paisa each to close at Rs 48.03 and Rs 47.02 respectively.
