The Pakistan stock market maintained a powerful rally on Thursday and crossed the threshold of 49,000 points after a gap of six years.
Meanwhile, the Pakistani rupee also made a smart recovery of Rs1.55 to Rs287.83 against the US dollar in inter-bank trade before mid-day today (Thursday).
At the Pakistan Stock Exchange, the benchmark Karachi Stock Exchange 100 Index increased by over one percent, or over 600 points, to 49,403 points before mid-day.
The market had gained over 500 points during the intraday trade, however, it closed the day on a negative note as the benchmark index shed 153.37 points or 0.31% to settle at 48,611.18 points.
According to a report by Arif Habib Limited, the weekly draw on liquidity at 49,000 was hit after which the market came off in what is a welcome dip.
The benchmark index has gained 7,871 points since Pakistan signed a staff-level agreement with the International Monetary Fund for the $3 billion Standby Agreement.
