Pervez Musharraf, who is facing impeachment on charges drawn up by the governing coalition, has stepped down as president and celebrations on Pakistan's streets were a common site all day.

But a man who guided Pakistan through one of its most turbulent times, his exit ensured a spike in the Karachi stock exchange and the Pakistani rupee.

With his resignation, a well publicised outcome for the last few weeks, President Musharraf knew there was little that he could hold on to except for his emotional speech.

The former army chief said: "For the sake of the country and the religion I have decided to resign from my position. My resignation will reach the speaker of the national assembly today. I have no resentment against anyone. I leave my fate in the hands of my religion and my countrymen. Let them be the judges and let them do justice.”

But a man who guided Pakistan through one of its most turbulent times knows his future remains uncertain but he was quite blatant in citing his achievements specially on the economic front.

The stock markets always an indicator of what political turmoil can mean for sentiment had a different view with investors indicating that Musharraf’s exit only spells more clarity and less uncertainty.

The Karachi stock exchange showed some signs of strength ending up higher and the same held for the Pakistani rupee, which closed on a higher note.