February, 23, 2024
Pakistan Stock Exchange Soars with UAE Investment Boost

Pakistan Stock Exchange Soars with UAE Investment Boost

Infostani Sources- On Monday, the positive economic indicators propelled the Pakistan Stock Exchange to achieve remarkable growth. Breaking all previous records. The surge led to a substantial increase in share prices, with 64% of stocks experiencing a boost. The total value of shares escalated by a staggering 1 trillion 20 billion 43 crore 31 lakh 34 thousand 189 rupees, creating an atmosphere of optimism.

The surge resulted from the United Arab Emirates (UAE) expressing interest. In participating in the China-Pakistan Economic Corridor (CPEC) project and announcing a significant investment plan in Pakistan. This further boosted confidence in the market.

Pakistan Market Highlights: KSE 100 Index Surges, Dollar Declines, and Gold Prices Stable

Pakistan Stock Exchange Soars with UAE Investment Boost

The KSE 100 index concluded the trading day at 62,493.05 points. Marking an impressive increase of 801.80 points driven by the rally. Simultaneously, the dollar faced a downward trend in both foreign exchange markets on Monday due to reduced unnecessary demand and an improvement in supply. This shift resulted in the dollar rate dropping below Rs 28. Closing at 284 rupees 52 paise due to a shortage of funds. In the open currency market, the dollar closed at 285 rupees and 50 paise. Reflecting a 50 paisa decrease, backed by a 24-hour freeze on hawker activity.

In addition to the stock market and currency dynamics, the price of gold remained stable. The cost per tola of carat at Rs 223,600 and the price per 10 grams at Rs 170,119, showing no change from previous figures.

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