PSX suffers Rs5.15tr loss in August
Business
PSX suffers Rs5.15tr loss in August
LAHORE (Dunya Investigation Cell) – The Pakistan Stock Exchange (PSX) suffered a total loss of Rs5.15 trillion in the month of August.
According to the documents issued by the PSX, the total volume of the exchange in August decreased from Rs72.31 trillion to Rs67.15 trillion.
During the first 18 days of the caretaker government, the total volume of the PSX has decreased by Rs5.15 trillion. The KSE-100 index in Pakistan Stock Exchange was at 48,424 points before the arrival of caretaker government, which has reached 42,002 points with a decrease of 3,422 points during the last 13 business days.
Similarly, since August 14, 2023, the value of the dollar has increased by 6 percent against the rupee. The dollar was traded at Rs288 at the beginning of August 14, 2023, which increased by Rs17 to Rs305.
The change in the value of the dollar had an impact on the stock exchange due to which the total volume of the PSX has decreased from $25.67 billion to $21.9 billion. The volume of the exchange decreased by $3.87 billion.
Read also: Rate hike fears keep market on a slippery slope with KSE-100 Index down over 1,200 points
Talking about last month, August 2023 saw a 7 percent increase in the value of the dollar against the rupee. At the beginning of August, the price per dollar was at Rs286, which increased by Rs19 to Rs305 which impacted the stock exchange due to which the total volume of PSX has decreased from $25.22 billion to $21. 9 billion.
One of the companies listed in PSX was excluded and on August 4, 2023 the total number of companies was reduced from 523 to 522.
In the month of August, the KSE-100 index decreased by 3032 points from 48,034 to 45,002 points, while KSE-30 index decreased by 1,227 points from 17,197 to 15,970 points.
A sharp decline in the stock exchange was seen today (Thursday) when the KSE-100 index decreased by a record 1,242 points, which made the investors suffered a loss of Rs1.8 trillion.
Similarly, the August 9 was a positive day for the stock exchange and the KSE-100 index increased by 798 points, giving investors a profit of Rs90. 23billion.
Today’s decline of 1,242 points in the KSE-100 index is the second biggest decline of the year 2023.
Earlier, on January 17, 2023, the KSE-100 index fell by a record 1,378 points, leaving investors to bear a loss of Rs1.99 trillion.
