KARACHI: The bullish momentum at the Pakistan Stock Exchange (PSX) continued on the third business day of the week, as the benchmark KSE-100 Index surged by 847 points, climbing to 166,341 points during intraday trading.
This comes just a day after the index touched an all-time high, before closing at 165,493 points on Tuesday.
Meanwhile, the interbank foreign exchange market recorded a marginal but positive shift for the local currency. According to the Exchange Companies Association of Pakistan, the US dollar depreciated by 12 paisas, bringing the exchange rate down to Rs. 281.20.
Market analysts attribute the sustained rally to improved investor sentiment, supported by strong corporate earnings, higher foreign inflows, and optimism regarding macroeconomic stability.
The continued appreciation of the stock index alongside a stable rupee is being seen as a sign of confidence returning to Pakistan’s financial markets.
