PSX jumps over 700 points, PKR appreciates

KARACHI: The Pakistan Stock Exchange (PSX) opened Thursday’s trading on Wednesday’s closing of 119,931.45 points, quickly posting a 300 points jump.

Yesterday as well, the PSX had started trading with a bullish rally with the benchmark KSE-100 Index surging past the 120,000 milestone, hitting an intraday high of 1,135 points.

Today, (Thursday) the PSX continued with the positive momentum, growing over 700 points, hovering around 120,633.02 points around 10 AM. This is the second consecutive session foe the benchmark KSE-100 index to cross the 120,000 points mark.

Investor sentiment continues to remain upbeat, particularly in large-cap stocks. Yesterday, the refinery sector also saw increased activity after the government approved the clearance of Rs34 billion in pending dues through petroleum pricing.

Meanwhile, the Pakistani Rupee has also appreciated against the US dollar in the interbank market on Thursday. According to the Exchange Companies Association of Pakistan, PKR has appreciated 20 paisa to bring the parity down to Rs281.77 to the greenback.

Also read: PSX soars past 120,000 milestone, closes slightly lower