Positive Start for Pakistan Stock Exchange, Dollar Value Declines Further

Karachi: The Pakistan Stock Exchange (PSX) has experienced a positive start with a bullish trend following recent market turbulence. Today, the PSX saw a strong beginning with the 100 Index rising by 246 points, reaching a level of 78,120 points.
In parallel, the value of the dollar has continued to decline in the interbank market. During trading, the dollar’s value fell by 4 paisas, trading at 278.65 Pakistani rupees.
Yesterday, the index regained its previous level of 77,500 points. The market’s upbeat performance is attributed to several factors, including the lower auction prices of Treasury Bills ranging from 24 to 50 basis points, expectations of a further reduction in interest rates, and strong financial results from listed companies in the banking and oil and gas sectors. These factors led to a 42% increase in stock prices.
On the previous trading day, the market capitalization of shares increased by PKR 98.86 billion. By the end of trading, the KSE 100 Index closed at 77,874.22 points, up by 759.73 points.
The trading volume was 10.18% higher compared to Wednesday, with a total of 493.09 million shares traded. The trading activity was confined to 434 companies, with 183 seeing price increases, 198 experiencing price declines, and 54 maintaining stable prices.