KARACHI: The first day of the business week saw a huge boom in the Pakistan Stock Exchange (PSX) that registered an increase of more than 1000 points in the KSE-100 index. The index crossed the level of 48,000 points bench mark
The stock exchange displayed the bullish trend as the Chinese vice premier arrived in Pakistan on the success of the CPEC.
The reason for the boom is being attributed to continuation of foreign investment in the refinery sector, as apparently the investors’ confidence has restored.
The possibility of an increase in the interest rate could not affect the market.
After losing some value at the beginning of the trading week, the American dollar started bouncing back in the interbank market with a jump of 55 paisas.
After the boost, the currency was traded for Rs287 on Monday morning in the interbank market.
The dollar started Monday with a slump of 44 paisas in the interbank market.
As per currency dealers, the greenback traded at Rs286.5.
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