PSX lost Rs107 billion market capitalization this week - report
- By Web Desk -
- Sep 17, 2022
The KSE-100 Index of the Pakistan Stock Exchange (PSX) dropped by 0.64% this week and lost Rs107 billion in market capitalization, the weekly PSX report stated, ARY News reported.
According to the weekly report, the exchange closed at 41679 points after a loss of 0.64% in the current week. The highest level of the market this week was 42311, while the lowest level was reported at 41603 points, the report added.
The business value of the share market was recorded at Rs35.26 billion in the current week.
On September 9th the Pakistan Stock Exchange (PSX) reversed losses after a meagre gain a day before as the country suffers from devastating floods which have impacted the government’s estimates for growth.
Also Read: PSX reverses losses as KSE-100 index crosses 42,000 mark
The PSX crossed 42,000 points after the KSE-100 index witnessed a hike by 231 points and traded at 42,056 points.
The PKR also lost its value by Rs8.66 against the US dollar in the current week. The local currency rose fell from Rs228.18 to Rs236.84 against the greenback.
While in the open market the local currency grew by Rs10 in the market and settled at Rs244. While the difference between the interbank market rate and open market rate reached Rs4.16.