ISLAMABAD: The Pakistan stock market on Tuesday crossed the benchmark of 50,000 points after a gap of six years and five months.
During the last month, the Pakistani Rupee maintained its impressive performance by making a remarkable recovery, reaching a record high of Rs30 against the US dollar in interbank trade.
At the Pakistan Stock Exchange (PSX), the benchmark Karachi Stock Exchange (KSE) 100 Index experienced a significant rise of 192.69 points, reaching 50,324 points.
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The strengthening of the Rupee, the sharp decline in gas and oil prices, and a recent upbeat economic outlook report from the International Monetary Fund (IMF) helped the PSX’s positive performance.
The US Dollar continued its downward trajectory against the resolute Pakistani Rupee On the 29th business day, sliding to Rs275.75, marking an eight-paisa decline on the second trading day of the week.
The Pakistan Stock Exchange (PSX) has soared to a six-year high, crossing 50,000 points. Driven by a resilient Rupee, lower POL prices, and a positive IMF report, these factors signal Pakistan's economic resurgence. pic.twitter.com/HDC3bQ1xjb
— Government of Pakistan (@GovtofPakistan) October 17, 2023
