KARACHI: The bullish trend was continued by the Pakistan Stock Exchange (PSX) on Thursday after closing on an upward trajectory the day before.
The benchmark of KSE-100 index was above 15.36 points. The current index closed with a 0.04% change at 36,536.78 points.
On Wednesday, 1,010 points were gained by the KSE-100 closing just shy of the 36,000 points level. A total volume of 151million shares were traded with a value of Rs7.19billion.
The bullish run of Wednesday came a day after the market was dominated by bears, due to which below 35,000 points were dragged.
The outgoing week was closed by KSE-100 at 35,703 points, gaining 7.5% or 2,537 points—the largest increase in the market for over a decade. The index recover 40% of its accumulated losses due to the gains in the previous weeks since fluctuations in the rupee exchange rate and economic uncertainty wreaked havoc in the financial markets.
The dollar continued to decrease against the Pakistani rupee down Rs1.42 in the interbank market on Thursday. The US dollar was trading at Rs 148.21.
The value of the dollar decreased in the open market by Rs0.70 to Rs149.30
A day earlier, slight gains were also registered by Pakistani currency against the US dollar with the greenback shedding Rs0.59 to close the3 day at Rs149.63 at the interbank.