The Pakistan Stock Exchange (PSX) 100 index has achieved a historic milestone by crossing the 78,000 mark for the first time ever. This remarkable feat comes on the heels of the Eid holidays, signaling a robust bullish trend in the stock market on the first day of trading after Eid holidays.
Since the opening of the business day, the Pakistan Stock Exchange exhibited a strong positive trend and maintained the historical limit of 77,000 points. At the opening session of trading, the stock exchange gained more than 500 points as the KSE-100 index increased by 590 points to reach 77,297.
Later, the KSE-100 index surged by 1,366 points, reaching an unprecedented 78,073 points during the trading session. This significant increase underscores investor confidence and a positive market sentiment.
Simultaneously, the foreign exchange market is witnessing a continued rise in the value of the US dollar against the Pakistani rupee, even after the Eid holidays. Currency dealers reported an increase of nine paisas in the interbank market, bringing the dollar's value to Rs278.60.
This dual trend highlights contrasting economic movements in Pakistan's financial landscape, with a booming stock market juxtaposed against a depreciating national currency. The surge in the stock market is a positive indicator of investor confidence and economic activity, while the ongoing depreciation of the rupee against the dollar poses challenges for the economy.
