The Pakistan Stock Exchange (PSX) has experienced a significant surge since the beginning of business on Wednesday, marking a notable recovery as the 78,000-point milestone is restored.
The KSE-100 index saw a substantial increase of 551 points, pushing the index to a remarkable 78,492 points. This upward trend reflects a positive investor sentiment and renewed confidence in the market.
Earlier at the start of the day, the PSX continued to perform strongly, with the 100 index rising by an additional 404 points, reaching 78,345 points. The consistent growth underscores the robust performance of the stock market, indicating a thriving business environment.
Also Read: US dollar loses ground against PKR in interbank trading
Market analysts attribute this surge to various factors, including improved economic indicators, favourable government policies, and strong corporate earnings reports. The restoration of the 78,000-point limit is seen as a significant achievement, reinforcing the resilience and potential of the Pakistani stock market.
Meanwhile, the US Dollar depreciated 10 paisas against the Pakistani Rupee on the third day of the business week on Wednesday. The price of the American currency reached Rs278.40 in interbank trading.
Finance Minister Muhammad Aurangzeb has said the budget for the next fiscal year is aimed at reducing fiscal deficit by focusing on measures that enhance the government’s revenues and reduce unnecessary expenditures.
