KARACHI: The Pakistan Stock Exchange (PSX) ended in green after it began the day with a declining trend on Friday amid political uncertainty as the biggest province of the country, Punjab, is set to elect its chief minister today.
According to details, the stock market ended the day in green with the KSE-100 index gaining 326 points to cross the 40,000 mark. The index closed on 40,157 points, rising from 39,666 points during the intraday trade.
It is pertinent to mention here that the Pakistan Stock Exchange (PSX) witnessed massive selling pressure on Thursday as the benchmark KSE-100 index shed more than 500 points.
The market began its slide soon as the benchmark KSE-100 index plunged 582 points. The KSE-100 index is currently trading at 39,877 points.
Besides the PSX, the rupee’s downward slide against US dollar also continued on the fourth consecutive day on Friday as political uncertainty and delay in the release of the IMF loan tranche for US$1.17 billion have affected the country’s foreign reserves.
According to forex dealers, the greenback saw a hike in value against rupee by Rs0.19 and traded at Rs227. In the open market, the US dollar traded between Rs228 and Rs229.
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