Exchange rate at RS 260 for 1 US $ yesterday and the Oil prices cooling off from it’s highs and dropping double digit percentages and the global market rally seen on Wednesday made CSE deliver it’s highest daily point gain of 692 on ASPI or 6.81% and the more liquid S&P SL20 index gaining a mammoth 8.52% or 292 points with a 3.5 billion turnover was very encouraging and much relief to some margin providers and investors alike . Although the huge gain made yesterday is partly due to global events and the total bargains offered in Dollar terms in the local context. The net importing companies like Soft Logic , Singer , Abans , will have a negative impact while Regnis , ACL will have better outcome with the devaluation and import restrictions. The continuous Rupee depreciation will give a lot of gains for export oriented companies like Hayleys MGT Dipd HBS TJL EXPO and so on while the companies holding large real estate assets like LOLC BIL JKH OSEA will benefit immensely with the current situation.
