The Pakistan Stock Exchange (PSX) kicked off the week on a positive note as the KSE-100 index surged by more than 500 points, regaining the crucial 147,000 level it had lost in the previous session.
Market opens with strong momentum
Trading began on Monday with an early gain of 188 points, setting the tone for a bullish day. Moments later, the index had climbed sharply, eventually closing at 147,075 points, up by 584 points compared to Friday’s close.
Recovery after last week’s dip
On Friday, the benchmark index had slipped below the 147,000 threshold, ending the week on a negative note. However, improved investor confidence and fresh buying interest in key sectors helped the market rebound on the first trading day of the week.
Also Read: Pakistan’s forex reserves rise to $19.49bn
Meanwhile, last week, Pakistan’s foreign exchange reserves saw a modest boost, with the State Bank of Pakistan (SBP) reporting a $1.1 million increase, bringing the country’s total domestic dollar reserves to $19.497 billion.
SBP holdings edge higher
According to the SBP’s weekly report, the central bank’s reserves rose by $11 million, reaching $14.243 billion. While the SBP’s holdings grew, commercial banks’ dollar deposits recorded a slight drop. Deposits held by banks fell by $10 million, settling at $5.254 billion.
