On Tuesday, the Pakistan stock market exhibited significant strength,surpassing the 50,000-point milestone after a hiatus of six years and fivemonths. Simultaneously, the Pakistani rupee maintained its remarkableresurgence, gaining a substantial Rs30 against the US dollar in inter-banktrading over the past month.
Specifically at the Pakistan Stock Exchange (PSX), the benchmark KarachiStock Exchange (KSE) 100 Index experienced a noteworthy upswing, climbingby 192.69 points to reach the level of 50,324.
Several factors contributed to the robust performance of the PSX, includingthe appreciation of the rupee, a substantial decline in petroleum (POL)prices, and a favorable economic outlook report issued by the InternationalMonetary Fund (IMF).
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In contrast, the US Dollar sustained a continuous decline, spanning the29th business day, in the face of the ‘unstoppable’ Pakistani Rupee,ultimately settling at Rs275.75 with an eight paisa drop on the secondtrading day of the week.