Positive trend continues in PSX

The Pakistan Stock Exchange (PSX) continued its bullish run on Friday amid positive economic indicators.On the last working day of the current business week, the KSE-110 was up 657.57 points to 113,295.83 points.A State Bank of Pakistan (SBP) report regrading rise in foreign remittances cast a positive impact on the market. The SBP said the country received $3.1 billion from overseas Pakistanis in December 2024. In December 2023, the volume of remittances was $2.4 billion.A day ago, SBP Governor Jameel Ahmed said that the country’s current account remained in surplus due to the government’s positive steps. Confidence of traders would rise and foreign direct investment would follow once the economy improved, he added.On Thursday, a negative trend was witnessed in the PSX and it closed at 112,638 points after a decline of 1,510 points.CURRENCY EXCHANGEThe US dollar saw further decline in the interbank market during the day. The greenback dropped by 11 paisas to 278.50.