The Pakistan Stock Exchange (PSX) 100 index has achieved a historic milestone by surpassing the 78,000 mark for the first time. This milestone was reached following the Eid holidays, signaling a strong bullish trend as trading resumed.
From the opening of the business day, the PSX exhibited robust positivity, maintaining above the historic 77,000-point level. Initially, the KSE-100 index rose by 590 points to reach 77,297 points in the opening session.
Read more: PSX Reaches A Record High Of 77,000 Points As The Post-Budget Surge Persists
Later in the trading session, the KSE-100 index surged by 1,366 points, reaching an unprecedented high of 78,073 points. This significant increase reflects heightened investor confidence and positive market sentiment.
Concurrently, the foreign exchange market continues to see the US dollar strengthening against the Pakistani rupee post-Eid holidays. Currency dealers noted a nine paisa increase in the interbank market, setting the dollar’s rate at Rs278.60.
These simultaneous trends underscore divergent economic movements within Pakistan’s financial landscape: a thriving stock market indicating strong investor trust and economic vitality, juxtaposed with ongoing rupee depreciation against the dollar, posing economic challenges.
