Islamabad: The Pakistan Stock Exchange (PSX) 100 index has reached a historic milestone by surpassing the 78,000 mark for the first time.
This achievement follows the Eid holidays, reflecting a strong bullish trend on the first trading day after the break.
From the start of the business day, the PSX showed a positive trend, maintaining the 77,000-point level. In the opening session, the KSE-100 index gained over 500 points, rising by 590 points to reach 77,297.
Later in the session, the KSE-100 index surged by 1,366 points, reaching an unprecedented 78,073 points. This significant increase underscores investor confidence and positive market sentiment.
Meanwhile, the foreign exchange market has seen a continued rise in the value of the US dollar against the Pakistani rupee, even post-Eid. Currency dealers reported a nine-paisa increase in the interbank market, bringing the dollar's value to Rs278.60.
These contrasting economic movements highlight Pakistan's financial landscape, with a booming stock market juxtaposed against a depreciating national currency. The surge in the stock market indicates robust investor confidence and economic activity, while the ongoing depreciation of the rupee against the dollar presents challenges for the economy
