Positive trend continues in PSX
Business
On last the working day of the business week, the KSE-110 was up 657.57 points to 113,295.83 points
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) continued its bullish run on Friday amid positive economic indicators.
On last the working day of the current business week, the KSE-110 was up 657.57 points to 113,295.83 points.
A State Bank of Pakistan (SBP) report regrading rise in foreign remittances cast a positive impact on the market. The SBP said the country received $3.1 billion from overseas Pakistanis in December 2024. In December 2023, the volume of remittances was $2.4 billion.
A day aago, SBP Governor Jameel Ahmed said that the country's current account remained in surplus due to government's positive steps. Confidence of traders would rise and foreign direct investment would follow once the economy improved, he added.
On Thursday, a negative trend was witnessed in the PSX and it closed at 112,638 points after a decline of 1,510 points.
CURRENCY EXCHANGE
The US dollar saw further decline in the interbank market during the day. The greenback dropped by 11 paisas to 278.50.
