Daily Times

The 100-Index of the Pakistan Stock Exchange (PSX) continued with bearish trend on Wednesday, losing 3,790.40 points, a negative change of 3.30 percent, closing at 111,070.29 points as compared to 114,860.69 points on the last trading day.

A total of 1,111,921,053 shares were traded during the day as compared to 1,252,980,316 shares the previous trading day, whereas the price of shares stood at Rs 60.242 billion against Rs. 62.722 billion on the last trading day.

As many as 472 companies transacted their shares in the stock market, 89 of them recorded gains and 349 sustained losses, whereas the share price of 34 companies remained unchanged.

The three top trading companies were WorldCall Telecom 139,290,885 shares at Rs 1.71 per share, Cnergyico PK with 67,462,895 shares at Rs 6.54 per share and Bank of Punjab with 60,162,802 shares at Rs.10.17 per share.

Al-Ghazi Tractors Limited witnessed a maximum increase of Rs.51.29 per share price, closing at Rs.564.23, whereas the runner-up was Indus Motor Company Limited with Rs 43.66 rise in its per share price to Rs 2,058.57.

Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs 107.16 per share closing at Rs 20,892.86 followed by Rafhan Maize Products Company Limited with Rs 98.02 decline to close at Rs.8,902.00.

Separately, the State Bank of Pakistan (SBP), on Wednesday, injected Rs1,202.65 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO).

The SBP, following the Monetary Policy rate cut to 13%, conducted Open Market Operation, Reverse Repo Purchase (Injection) on December 18, 2024 for 2-day tenor and, as per results issued, accepted an amount of Rs1,013.65 billion offered through 12 bids.

The central bank received 12 bids for 2-day tenor cumulatively offering an amount of Rs1,013.65 billion at the rate of return ranging from 13.07 to 13.25 percent. The SBP accepted the entire amount offered through 12 quotes for 2-day tenor at the 13.07% rate of return.

Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 2-day tenor. The central bank received 4 bids for 2-day tenor quoting an amount of Rs189 billion at the rate of return ranging between 13.10 to 13.15 %. The SBP accepted the entire amount offered through the 4 quotes for 2-day tenor at 13.10% rate of return.