Pakistan Stock Exchange continues bullish trend

KARACHI: The Pakistan Stock Exchange (PSX) continued its bullish trend on Thursday after closing on an upward trajectory the day before.

The benchmark KSE-100 index was up 15.36 points. The current index closed at 36,536.78 points with a 0.04% change.

On Wednesday, the KSE-100 gained 1,010 points closing just shy of the 36,000 points level. A total volume of 151million shares were traded with a value of Rs7.19billion.

Wednesday's bullish run came a day after the market was dominated by bears, which dragged it below the 35,000 points.

The KSE-100 closed the outgoing week at 35,703 points, gaining 2,537 points or 7.5%—the biggest increase in the market for over a decade. The gains helped the index recover 40% of its accumulated losses in the previous weeks since fluctuations in the rupee exchange rate and economic uncertainty wreaked havoc in the financial markets.

Dollar falls in interbank 

The dollar continued to fall against the Pakistani rupee on Thursday down Rs1.42 in the interbank market. The US dollar was trading at Rs 148.21. 

In the open market, the value of the dollar decreased by Rs0.70 to Rs149.30

A day earlier, the Pakistani currency also registered slight gains again the US dollar, with the greenback shedding Rs0.59 to close the3 day at Rs149.63 at the interbank.