appeasement
Market

Rupee firm against dollar

 

KARACHI: The Pakistani rupee Thursday remained firm against the US currency both in open market and interbank.

As per the local money market, the dollar remained unchanged both in open market and interbank at 107.70 and 105.65 respectively.

On Wednesday, after appreciating by 05 paisa during intraday trading, dollar closed on higher note day level at Rs 105.45 for buying and Rs 105.65 for selling versus rupee in interbank. In kerb market, greenback shed value by 10 paisas versus rupee to close at Rs 107.40 for buying and at Rs 107.70 for selling.

APP

PSX loses mammoth 1123 points on uncertain conditions

KARACHI: The Pakistan Stock Exchange (PSX) witnessed one of the worst trading days on Thursday as the benchmark KSE-100 index lost 1,123 to hit 38,785.

Around 287 traded scrips landed in the red, with K-Electric having lost over six per cent of its value and Worldcall Telecom, TRG, Japan Power and Bank of Punjab also losing over 5pc.

“The market opened lower and declined steadily, with sentiments mainly dented as cleric Tahirul Qadri hinted at a protest against the government over the Model Town incident issue while opposition parties PTI and PPP also pledged their support for the protest call,” reported Elixir Securities.

The turnover picked up to reach over Rs6.2 billion from Wednesday’s abysmal figures, with over 163 million shares traded.

The power generation and distribution sector was dominating trading with 26.6m shares traded, while technology and commercial banking sectors followed with 22.5m and 21.0m shares traded respectively.