For the first time in the country’s history, the Pakistan’s stock market has crossed the milestone of 72 thousand points
According to stock market dealers, a strong upward trend is being seen in the stock exchange on the third day of the business week. Where the KS100 index has increased by 1050 points to a record level of 72400 points, the stock market closed at 71 thousand 359 points at the end of the last day’s business.
According to dealers, the formal request for a new bailout package from the IMF has had a positive impact on the stock market.
Due to the good financial results of the companies, the expected decrease in the interest rate and the boom in the foreign investment market have been cited as the reasons.
On the other hand, there is a tendency to increase the value of the dollar in the exchange market for the third consecutive day of this business week. According to the currency dealers, the value of the dollar increased by two paisa in the interbank market today, which made the dollar exchange rate of 278 rupees 40 paisa in the interbank market.
It should be noted that the value of the American currency dollar increased slightly against the Pakistani rupee. According to the State Bank of Pakistan (SBP), the dollar closed at 278.38 paise at the close of business on Tuesday after gaining 5 paise.
