PSX remains bullish with 50,500 points

KARACHI: The KSE-100 benchmark index of the Pakistan Stock Exchange on Friday went above the 50,500 points mark; the index last seen at 50,592 points level was in May 2017, ARY News reported on Friday.

According to the reports, the Karachi Stock Exchange (KSE-100) index gained 207 points and is currently trading at 50,572 points.

Yesterday, the Pakistan Stock Exchange’s benchmark KSE-100 index went above the 50,000 mark, a milestone that analysts said occurred after six years.

The benchmark Karachi Stock Exchange (KSE) 100 Index gained 600 points to trade at 50,025 points in intraday trading.

The 50k level crossed after six years (last seen on June 07, 2017).

Meanwhile, the Pakistani rupee bounced back against the US dollar in the interbank market on Thursday.

The dollar which gained Rs1 against the PKR in the interbank on Wednesday, depreciated by Rs1.96 on the early trading on Thursday afternoon.

The Pakistani rupee gained Rs1.96 against the US dollar and currently trading at Rs278.30 in the interbank market, the forex dealers said.

The banks are selling the greenback to the importers at Rs278.80, while the US currency also lost Rs1 against the local currency in the open market.