Bull run continues: KSE-100 surges Past 142K Milestone
Karachi: The Pakistan Stock Exchange (PSX) witnessed a historic milestone on Monday as the benchmark KSE-100 Index surged past the 142,000 mark for the first time in history.
During the trading session, the index reached a record high of 142,174 points, reflecting strong investor confidence and bullish market sentiment.
The index posted a significant gain of 859 points during intraday trading, later settling at 141,894 points.
It is worth noting that on the last trading day of the previous week, the market had also ended on a high note, with the KSE-100 Index closing at 141,034 points after a remarkable rise of 1,644 points setting a new closing record at the time.
In a positive development for the currency market, the Pakistani Rupee appreciated slightly against the US Dollar in interbank trading. The Dollar fell by 12 paisa, dropping from Rupees 282.72 to Rupees 282.60.
Iran-Pakistan Trade Deal:
On Sunday, Pakistan and Iran has set a target of boosting their bilateral trade to ten billion dollars.
Pakistan and Iran signed several Memorandums of Understanding (MoUs) aimed at deepening bilateral cooperation across various sectors.
One MoU was signed for the establishment of a Special Economic Zone, while another focused on promoting film exchanges and cooperation between Pakistan’s Ministry of Information and Broadcasting and Iran’s Organization of Cinema and Audiovisual Affairs.
Additional MoUs were inked between Pakistan’s Ministry of Overseas Pakistanis and Iran’s Ministry of Cooperatives, Labour, and Social Welfare, as well as between the Pakistan Standards and Quality Control Authority and Iran’s National Standards Organization.
