PSX surpasses 174,000 mark for first time in history as bulls dominate

KARACHI – Bulls extended their grip on trading flood as the Pakistan Stock Exchange (PSX) has set another record on Monday as positive economic developments have strengthened investor confidence.

During intraday trading, the KSE-100 gained whooping 2,010.99 points to reach all-time high of 174,411.72 points compared to previous close of 172,400.73 points.

Read more: PSX Hits Record High as Rupee Strengthens Against Dollar

The stock market held its peak for a brief period before the gains narrowed to 899.13 points, with the index reaching 173,299.86 points as trading activity continued.

Dollar Value Drops Slightly in Interbank Market

Meanwhile, the value of the US dollar witnessed a slight decrease in the interbank market today, as reported by the Exchange Companies Association of Pakistan.

The dollar’s price dropped by 2 paisas, bringing it down to the level of Rs280.15.

Throughout the trading week, the dollar continued to trade at this level in the interbank market. According to experts, the minor decline in the dollar’s value can be attributed to market stability and a reduction in import payments.

Currency dealers, however, caution that in the coming days, the dollar’s price may fluctuate due to global financial trends and the country’s domestic economic policies.