Pakistan Stock Exchange has been increased by over 1,000 points on Wednesday (today).
Pakistan Stock Exchange or PSX showed a bullish trend on Wednesday as KSE 100 Index increased by 1195.04 points. The current index stood at 34,637.14 with a 3.45 per cent change since trading opened. Bullish activity was also witnessed at the stock market a day earlier with the KSE-100 gaining 191.56 points. The Pakistan stock market has performed well after reports that government-backed financial institutions would pump liquidity into the market.
On the other side, the USD to PKR ratio has seen a decline on Wednesday (today). Dollar rate in Pakistan came down after several days and reached at Rs 151.60 in the interbank market after decreasing by Rs 0.32. However, decline of Rs 0.5 is observed in the interbank market where it is traded at Rs 153.50.
On Tuesday, SBP also raised its key interest rate by 150 basis points to 12.25 percent, citing inflationary pressures, exchange rate depreciation and an elevated fiscal deficit.