Pakistan Stock Exchange surges to historic high of 109,342 points 

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a robust rally on Friday, propelling the benchmark KSE-100 Index to an all-time high of 109,342 points, as investor confidence soared. 

Continuing the bullish momentum from previous sessions, the market opened with a substantial gain of 1,035 points, crossing the historic 109,000-point threshold early in the day.

The upward trend persisted throughout the session, with the index climbing a total of 1,103 points by the close. 

The remarkable performance underscores sustained optimism among investors, driven by improving economic indicators and favorable market conditions.

Meanwhile, the Pakistani rupee (PKR) on the last trading day of the week rose 0.04 per cent against the US dollar (USD) during the initial trading hours.

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The PKR was recorded at Rs277.85 per dollar before 12 PM on Friday after witnessing a gain of 11 paisa against the USD.

The rupee on the previous trading day dropped 2.17 paisa or 0.01 per cent versus the dollar in Thursday’s interbank session and ended the trade at Rs277.94 per USD, compared to Wednesday’s closing of Rs277.92.

During the ongoing financial year, the local currency has appreciated 0.14 per cent or 39.67 paisa against the greenback. Contrastingly, the home unit has gained Rs3.92 or 1.41 per cent since the start of 2024.

PKR’s closing history

December 2: The PKR increased by 0.03 per cent, or 7.65 paisa, against the USD to end the day at Rs277.97 per USD, compared to the last closing of Rs278.05.

December 3: The PKR increased by 10.48 paisa, or 0.04 per cent, against the USD to settle the trade at Rs277.87 per USD, compared to the last closing of Rs277.97.

December 4: The PKR fell by 5.41 paisa, or 0.02 per cent, against the USD, settling the trade at Rs277.92 per USD, compared to the last closing of Rs277.87.

December 5: The PKR fell by 0,01 per cent or 2.17 paisa against the USD to close the day at Rs277.94 per USD, compared to the last closing of Rs277.92.