Pakistan Stock Market Hits All-Time High; Dollar Value Declines
The Pakistan Stock Market has reached a historic milestone, with the 100 index soaring to an all-time high. At the start of business on Monday, the market witnessed a strong bullish trend, with the index surging by 479 points, pushing it beyond 84,000 points. This increase follows last week’s record, where the index closed at 83,000 points, marking the highest level in history.
Positive Business Activity
Investors are showing strong confidence, and positive business momentum has continued in the Pakistan Stock Exchange (PSX). The surge reflects optimism in various sectors, contributing to the rise in stock prices.
Dollar Depreciation Against the Rupee
On the other hand, the Pakistani rupee gained further strength against the US dollar in the inter-bank market. The dollar depreciated by 12 paise, bringing its value down to Rs 277.40. This decline in the dollar’s value signals a strengthening local currency, which is likely to have positive implications for the overall economy.
This combination of a rising stock market and a stronger rupee highlights improved investor sentiment and economic conditions in the country.