In a significant milestone, the Pakistan Stock Exchange (PSX) achieved its highest level in six years by crossing 50,000 points on Tuesday.
The PSX’s benchmark Karachi Stock Exchange (KSE) 100 Index saw a robust rise of 192.69 points, reaching a total of 50,324.
Experts attribute this impressive performance to the nation’s ongoing economic recovery. Financial analysts point to the appreciation of the Pakistani Rupee (PKR) and substantial decreases in petroleum prices, all amplified by a positive economic outlook report from the International Monetary Fund (IMF).
Simultaneously, the US Dollar has hit a month-low against the rupee, stabilizing at approximately Rs275.75.
Notably, in the previous month, the rupee had slipped to 307.1 in the interbank market. Nevertheless, authorities have undertaken extensive measures to combat smuggling and bolster regulations within the Exchange Companies (ECs) sector.
The central bank has taken proactive administrative steps to oversee the money market, resulting in the suspension of nine exchange companies due to regulatory violations.