PSX shrugs off bearish trend as bulls return to rule
Business
The positive trend continued as by the midday the index gained 709.26 points to climb to 85,959.35
KARACHI (Dunya News) – After a bearish trend last week, bulls returned to the Pakistan Stock Exchange (PSX) on Monday.
The KSE-100 index rose by 588 points during early morning trading to 85,839 points on the first day of the new business week.
The positive trend continued as by the midday the index gained 657.08 points to climb to 85,907 points.
It closed at all-time high of 86,057 after it gained more than 800 points.
It may be recalled that the PSX had a negative trend on Friday when the KSE-100 index fell 335 points to 85,250 at the close.
However, the PSX set a new record last week when the KSE-100 index rose above 86,000 points on Wednesday.
US DOLLAR
Meanwhile, Pak rupee continued to gain strength against the US dollar in interbank trading.
The greenback fell by 6 paisas in early morning trading to Rs277.55 from Rs277.61.
