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Pakistan Stock Exchange (PSX) witnessed a bullish trend on Thursday, the first session of the week after the long six-day holidays, and the benchmark KSE-100 Index gained 1131.37 points to 118,938.11 points with a positive change of 0.96%.
In total 200,014,724 shares were traded with a total value of Rs. 19,385 billion. 451 companies remained active in the trading out of which 247 remained in green, 153 in red and 51 neutral. The highest points of the stock market recorded at 119,179.45 and the low at 117,508.07 points.
Selling pressure was observed in the opening hours as investors assessed the impact of Trump’s tariffs, pushing the index to an intra-day low of 117,508.07. However, moods shifted later in the day after the government announced a reduction in electricity tariffs to support consumers and industries. This positive development drove the index to an intra-day high of 119,179.45.
On the other front, the Rupee on Thursday depreciated by 40 paisa against the US Dollar in the interbank trading and closed at Rs 280.56 against the previous day’s closing of Rs 280.16.
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 280.40 and Rs 281.90, respectively.
The price of the Euro increased by Rs5.62 to close at Rs 307.94 against the last day’s closing of Rs 302.42, according to the State Bank of Pakistan (SBP).
The Japanese yen went up by 04 paisa and closed at Rs 1.90, whereas an increase of Rs 5.68 was witnessed in the exchange rate of the British Pound, which was traded at Rs 368.64 as compared to the last day’s closing of Rs 362.96.
The exchange rates of the Emirates Dirham and the Saudi Riyal also increased by 11 and 09 paisa to close at Rs 76.38 and Rs 74.78 respectively.
