Stocks remain bullish, gain 549 points

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PKR strengthens by Rs2 in interbank

Shares at the Pakistan Stock Exchange extended gains on Thursday, with analysts attributing the positive sentiments to the rupee’s appreciation and expectations that the monetary policy would remain unchanged.

The benchmark KSE-100 index gained 549.15 points, or 1.32 per cent, to close at 42,160.57 points. The index saw an intraday high of 590.13 points, or 1.42pc, around 3:30pm.

Meanwhile, the Pakistani rupee recovered by another Rs2 against the dollar in the interbank market on Thursday.

The local currency closed at Rs221.94 per dollar, an appreciation of 0.9 per cent from yesterday’s close of Rs223.94, according to the State Bank of Pakistan.

The rupee, which had fallen close to an all-time low of Rs239.71 on Sept 22, has been recovering since then. It has gained Rs17.77 or 7.41pc in the last nine sessions.

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