PSX displays mixed trends on last day of 2024, Rupee up 1.17pc vs dollar

On the final trading day of 2024, Pakistan’s stock market displayed a mixed trend, closing in the negative zone after a day of high volatility. However, PSX achieved a historic milestone this year by delivering record 84% return, marking the highest annual performance in 77 years, reported 24NewsHD TV channel. 

During the session, the market witnessed fluctuations, with the benchmark KSE-100 Index gaining 1,441 points at its peak before shedding 454 points. The index ultimately closed 132 points lower at 115,127 points. 

During 2024, the 100 index recorded an increase of 52675 points in one year, showing an increase of 84 percent. In the year 2024, Pakistan Stock Exchange became the second best performing stock market in the world. At the end of the year 2024, the 100 index closed at the level of 1 lakh 15126. 

In the year 2024, the market capitalization increased by 5432 billion rupees to 14 thousand 495 billion rupees. The trading volume surged on the day, with 44 billion shares exchanged, amounting to a total value of Rs. 17 billion. This uptick in activity hints at a positive outlook for 2025, according to experts. The increased trading volume indicates that new year purchases have already begun. 

Meanwhile, the value of Pakistani rupee increased by 1.17% during 2024 against US dollar. The US dollar closed at Rs278.55 at the end of the year 2024 in interbank market. 

During 2024, US dollar became cheaper by Rs3.31 in interbank compared to Rupee. At the end of 2023, US dollar remained at 281.86 rupees in interbank. During 2024, the highest level of the dollar was 281.89.