TRADE & ECONOMY
The Pakistan Stock Exchange (PSX) achieved another significant milestone on Thursday, as its benchmark 100 Index surged by 561 points at the start of the trading day, reaching a new high of 100,643 points. This marks a continued bullish trend for the market, which has shown robust performance over the past few weeks.
Despite some fluctuations during the day, the index closed at 100,118 points by the end of trading, reflecting a positive outcome for investors and a sign of growing market confidence.
In addition to the strong performance of the stock market, the Pakistani Rupee also gained ground against the US Dollar. The interbank market saw the dollar’s value drop by 4 paise, bringing its exchange rate down to 278 rupees. This decline in the dollar's value signals a potential stabilization of the local currency, bolstered by positive economic sentiments and investor confidence in the domestic market.
The stock market’s performance and the strengthening of the rupee reflect encouraging trends, as both local and foreign investors seem to regain confidence in Pakistan's financial landscape. These developments are expected to provide further stability in the coming days, offering optimism for the nation’s economy.
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