The Pakistan Stock Exchange (PSX) kicked off the trading day on a bullish note, as the KSE-100 Index sheds by 417.99 points to reach the 122,343.65 mark.

At 2pm, the benchmark index was hovering at 122,343.65 level, a decrease of 417.99 points or 0.34%.

Financial experts say the market’s positive trajectory is supported by post-budget policy clarity, stable international oil prices, and renewed interest from domestic investors, all of which have helped sustain the current rally.

In a related development, the Pakistani rupee strengthened slightly in the interbank market, as the US dollar slipped by 22 paisas to settle at Rs283.50.

Currency analysts suggest the decline in the dollar’s value stems from a temporary reduction in pressure on the rupee and a more balanced import bill.

Market observers believe that the continued rise in the stock market is reinforcing investor trust, while the rupee’s stability may help ease inflationary pressures and reduce the cost of imports in the coming days.