PSX maintains strength despite slipping down 170,000 since yesterday

KARACHI: The Pakistan Stock Exchange (PSX) staged a powerful rally on Thursday, with the benchmark KSE-100 Index once again breaking above the 170,000 barrier, while the rupee strengthened further against the US dollar amid continued downward pressure on the greenback.

On the fourth trading day of the week, Pakistan’s equity market opened with strong momentum. The KSE-100 jumped 834 points in early trading, lifting the benchmark to 170,288 points, and then deepened the gains, touching the morning’s highest at 170,301.48 points, up from 169,451.86 points at the close of the previous session. The surge reflects renewed investor confidence, driven by improving sentiment in both domestic and international markets.

Even though the index slipped as trading continued, the benchmark KSE-100 index maintained strength showing positive momentum over yesterday’s gains.

Meanwhile, the currency market continued to favor the Pakistani Rupee. According to the Exchange Companies Association, the US dollar exchange rate went down by another 7 paisa in interbank trading, bringing the exchange rate down to Rs280.30 to the greenback. The rupee’s continued climb against the US Dollar suggests easing demand for the foreign currency and improving stability in the local market.

Market analysts say the combination of a robust equities performance and a firmer rupee underscores growing optimism over Pakistan’s near-term economic direction.