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PSX sets new record in historic rally, crossing 60,000 mark amid bullish streak

10:32 AM | 28 Nov, 2023
psx
Source: File Photo

KARACHI – Pakistan Stock Exchange (PSX) advanced its positive trajectory on Tuesday, as the benchmark KSE-100 Index crossed 60,000 points level for the first time in history.

The bullish trend gains traction in stock market as traders cashed in on the index rising by 405 points. In early hours of trading, the benchmark KSE-100 index was at 60,460 points following addition of over 600 points. On Monday, KSE-100 Index was closed at 59,811. 

In last four weeks, the KSE-100 index soared by more than 8,000 points.

The market rallied positively today and the gains are being attributed to successful first review with the International Monetary Fund (IMF).

Experts also linked the bullish trend with anticipation of rate cut, given the expected slowdown in inflation over the next few months. Furthermore, clarity on upcoming elections was also contributing to this trend.

The incumbent caretaker setup has also taken stern measures which are \supporting the ongoing rally, Pakistani currency however continues to remain under pressure in wake of import payments.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - Pakistani rupee to US Dollar, Euro, Pound, Dirham, and Riyal - 17 April 2024

Pakistani currency saw minor adjustment against global currencies on April 17, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.

Euro comes down to 293.15 for buying and 296.1 for selling while British Pound stands at 344.25 for buying, and 347.6 for selling.

UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 17 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.4
Euro EUR 293.15 296.1
UK Pound Sterling GBP 344.25 347.6
U.A.E Dirham AED 75.45 76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 201 203
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 902.26 911.26
Malaysian Ringgit MYR 58.24 58.84
New Zealand Dollar NZD 164.75 166.75
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.37 77.07
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

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