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Market cap rises to Rs7,854 billion in PSX; week closes on positive note

KARACHI: Weekly performance of the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) remained positive as the trade concluded on 42,023 points after climbing 966 points, ARY News reported on Saturday.

The market was rangebound within the band of 1,271 points. The lowest it plunged was noted to be 41,019 points while the peak was recorded to be at 42,290. However, it managed to close just 267 below its highest weekly mark.

The collective trade for the weak stood at Rs115 billion with a total of 3.72 billion shares exchanging hands. The market owing to the positive sentiment saw a rise of Rs244 billion in market capitalization.

The total market capitalization at the end of the trading week at PSX stood at Rs7,854 billion.

Meanwhile, in another positive trend for the economy, the rupee also strengthened against the dollar by Rs1.66 as the business week concluded.

Read: Rupee surges by Rs2.81 against US dollar in four days

According to interbank foreign exchange data, the dollar slipped to Rs165.76 level from the previous week’s Rs167.43 level.

It once fell to Rs165.60 level in the interbank as well,  however, it regained some value to end the business week at 165.76.

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