PSX sees fluctuations after a positive start as USD value drops

KARACHI: The Pakistan Stock Exchange (PSX) started the week with an upward trend but soon saw fluctuations, while the currency exchange market saw an appreciation of the Pakistan Rupee against the US Dollar.

On the first trading day of the week, and the month of February 2025, the PSX witnessed a positive start, with the benchmark KSE-100 index jumping 294 points right of the bat, reaching 114,550 points. However, soon after the KSE-100 plummeted to 300 points lower than the opening position.

The stock market was continuing its upward trend, briefly touching the 114,000 mark. Last week, the index had crossed the 115,000 mark, but later declined by the close of trading.

By 11 AM, the index had gone through more fluctuations, hovering at 113,857.68 points, showing nearly a 400 points drop.

In a related development, according to the forex dealers, the value of greenback depreciated by five paisa in the interbank market, bringing the PKR-USD parity to Rs278.90 on Monday morning.