Business
PSX restores 48,000 points limit after 70 days
The Hundred Index saw a surge of 307 points, reaching a trading value of 48,030 points.
Karachi: The Pakistan Stock Exchange has witnessed a bullish trend today, marking the seventh consecutive session of positive growth.
The Hundred Index is currently trading at 48,030 points, representing a notable increase of 307 points.
This resurgence has allowed the restoration of the 48,000 points limit in the Pakistan Stock Exchange after a hiatus of 70 days.
Simultaneously, the effects of the government's crackdown against various mafias are becoming increasingly evident in the financial landscape.
The value of the US dollar has continued to decline, experiencing a reduction of Rs1.05 paisa in the interbank market.
As a result, the interbank exchange rate for the dollar now stands at Rs280.60.
Furthermore, these concerted efforts against illegal currency trading and smuggling have yielded substantial dividends, leading to a surplus of $900 million in the open market and increased deposits in banks.
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