The Pakistan Stock Exchange (PSX) saw a stable movement towards the end of the business week on Friday morning, while the rupee strengthened further as the US dollar continued its downward trend.
Trading at the PSX opened on a positive note, with the benchmark KSE-100 Index climbing 242 points at the start of the session, pushing the index to 168,817 points. By noon, the index had climbed over 700 points to hover around 169,308.10 points.
Although the market witnessed a strong surge during the first session a day earlier, the index had slipped into negative territory by the close of Thursday’s trading. Earlier in the week, the market had also crossed over a historic milestone of 170,000 points. Analysts expect the positive momentum to continue in the coming weeks.
Meanwhile, the US dollar exchange rate extended its decline. According to the Exchange Companies Association, the Pakistan Rupee improved against the greenback by another 5 paisa in the interbank market on Friday, bringing the new exchange rate to Rs 280.30 to the USD. The continued easing of the dollar has lifted the rupee, adding to optimism in financial markets.
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