ISLAMABAD: On Tuesday, the Pakistan stock market exhibited robust momentum, surging past the 50,000-point benchmark after a hiatus of six years and five months.
In the past month, the Pakistani rupee continued its impressive performance, demonstrating a substantial recovery of reaching a record Rs30 against the US dollar in inter-bank trade.
Additionally, at the Pakistan Stock Exchange (PSX), the benchmark Karachi Stock Exchange (KSE) 100 Index saw a notable increase of 192.69 points, reaching 50,324 points.
The noteworthy factors contributing to the PSX’s performance were the appreciation of the rupee, a significant decline in POL prices, and a recent positive economic outlook report from the International Monetary Fund (IMF).
Furthermore, the US Dollar sustained its downward trend, marking the 29th consecutive business day against the ‘unstoppable’ Pakistani Rupee, with the exchange rate reaching Rs275.75 and a decrease of eight paisas on the second day of the trading week.
