KARACHI: The Pakistan Stock Exchange (PSX) continued to show stability and positive momentum, while the value of the US dollar declined against the Pakistani rupee.
On the third trading day of the business week, the market opened on a positive note. The benchmark 100 Index gained 252 points, reaching 170,699 points in early trading.
A day earlier, the index had touched a record high during intraday trading but slipped into negative territory by the close of the session.
Meanwhile, the Pakistani rupee strengthened against the US dollar in the interbank market. According to the Exchange Companies Association, the dollar fell by 5 paisas and was being traded at Rs 280.25 in the interbank market.
Market analysts attribute the positive trend in the stock market and the improvement in the rupee’s value to growing investor confidence and relative economic stability.
