Dollar falls, stock market rises in response to Shehbaz’s election as PM

ISLAMABAD: Pakistan Stock Exchange accorded a very warm welcome to the regime change, the defeat of PM Imran Khan in the National on the no-confidence move on Saturday night.

On Monday morning, the PSX-100 index gained 1437 points, rising to 45,882 points mainly because of the opposition’s victory against PM Imran Khan.

The US dollar also faced further blow today as its value fell below 183 rupees in the inter-bank from previous 184.50 rupees, losing 1.50 rupee till 10:50am on Monday morning.

Meanwhile, stock market opened on a bullish note on Monday morning and before 11am, the 100-index of PSX gained more than 1400 points with 71.53 million shares trading involving an amount of 3.256 billion.

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