PSX extends bullish run as PKR strengthens against US Dollar

KARACHI: The Pakistan Stock Exchange (PSX) continued its upward momentum on the second day of the business week, while the US dollar exchange rate weakened against the Pakistani rupee in the foreign exchange market, reflecting improving investor sentiment.

Trading opened on a positive note, with strong buying pressure seen in early hours. During the first session, the benchmark KSE-100 Index surged by 577 points, reaching 171,781 points. Market analysts attributed the gains to renewed investor confidence and expectations of economic stability.

The previous trading session had witnessed mixed activity, with the index closing at 171,204 points by the end of the business day. Despite fluctuations, the overall trend remained positive, setting the stage for Tuesday’s rally.

Meanwhile, the greenback exchange rate continued its downward trend against the rupee. According to the Exchange Companies Association, the Pakistani Rupee appreciated by 2 paisa in the interbank market against the USD and is currently trading at Rs 280.20 to the dollar. Currency dealers noted that the gradual decline reflects improved market sentiment and a balanced demand-supply situation.

Experts believe that continued stability in both the stock and currency markets could further strengthen investor confidence in the coming days.