Stocks rally to bounce back above 66K threshold

The Pakistan Stock Exchange (PSX) witnessed a resurgence of bullish activity on Friday morning, marking the culmination of a week characterized by fluctuations.

As the week drew to a close, the benchmark index displayed a gain of 599.06 points at 11 am, reaching 66,049.24 — reflecting a 0.92 percent increase from the previous close of 65,450.18 points.

Simultaneously, in the interbank market, the US dollar experienced a decline in value. On the final business day of the week, the greenback lost 41 paisa, settling at 283.10.

This depreciation follows Thursday’s closing rate of Rs283.51 for the dollar.