PSX witnesses bearish trend, loses 1,878 points

ISLAMABAD (APP) - The 100-index of the Pakistan Stock Exchange (PSX) witnessed a bearish trend on Monday, losing 1,878.43 points, a negative change of 2.98 percent, closing at 61,065.32 points against 62,943.75 points the previous trading day.

A total of 349,975,051 shares valuing Rs 12.745 billion were traded during the day as compared to 258,073,610 shares valuing Rs.12.529 billion the last day. Some 354 companies transacted their shares in the stock market; 35 of them recorded gains and 300 sustained losses, whereas the share prices of 19 remained unchanged.

On the other hand, the rupee weakened by 04 paisa against the US dollar in the interbank trading and closed at Rs 279.32 against the previous day’s closing of Rs 279.28. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 280 and Rs 282, respectively.

The price of the Euro increased by 78 paisa to close at Rs301.64 against the last day’s closing of Rs300.86. The Japanese Yen gained 01 paisa to close at Rs1.87, whereas an increase of 86 paisa was witnessed in the exchange rate of the British Pound, which was traded at Rs 353.18 compared to the last closing of Rs 352.32. The exchange rates of the Emirates dirham and the Saudi Riyal increased by 02 paisa and 01 paisa to close at Rs 76.05 and Rs 74.48 respectively.