Pakistan Stock Exchange surpasses 50,500 points after more than six years

On Friday, the KSE-100 benchmark index of the Pakistan Stock Exchange surpassed the 50,500-point mark, a level last witnessed in May 2017 when it reached 50,592 points. 

The Karachi Stock Exchange (KSE-100) index has advanced by 207 points and is presently at 50,572 points.

Yesterday marked a significant milestone for the Pakistan Stock Exchange as its benchmark KSE-100 index crossed the 50,000-point threshold, an achievement that experts have noted took six years to accomplish. 

During intraday trading, the benchmark Karachi Stock Exchange (KSE) 100 Index surged by 600 points, settling at 50,025 points, a level not seen since June 7, 2017.

Concurrently, the Pakistani rupee exhibited a recovery against the US dollar in the interbank market on Thursday. After experiencing a Rs1 gain against the PKR in interbank trading on Wednesday, the US dollar depreciated by Rs1.96 in early Thursday afternoon trading. 

As of the latest data, the Pakistani rupee has gained Rs1.96 against the US dollar, now trading at Rs278.30 in the interbank market, according to forex dealers. 

In the open market, banks are selling the greenback to importers at Rs278.80, while the US currency has also experienced a Rs1 loss against the local currency.