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KARACHI: The Pakistan Stock Exchange on Friday witnessed record-breaking activity, with the index surpassing the 76,000-point mark.
For the first time in the country’s history, a surge of 956 points led the 100 Index to reach a new all-time high of 76,070 points.
Yesterday, the stock market also experienced a significant surge, resulting in an increase of 48.74 billion PKR in share value. By the end of the market session, the KSE 100 Index closed at 75,114.47 points, up by 157.80 points.
It is noteworthy that last week, the Pakistan Stock Exchange also saw a record surge, with the index surpassing the 75,000-point level.
Meanwhile, the total liquid foreign reserves of Pakistan increased to $14,585.4 million while those held by the State Bank of Pakistan further inched up to reach $9,157 million in the week ended on May 17.
The SBP, in a press release on Thursday, said that the foreign reserves held by it increased by $22 million to $9,157.0 million while the net foreign reserves held by the commercial banks were recorded at $5,428.4 million during the week under review.
The total liquid foreign reserves of the country, in the previous week ended on May 10, were $14,626.4 million, including $9,135.5 million held by the SBP and $5,490.9 million by commercial banks.
On Thursday, the UAE committed $10 billion to invest in promising economic sectors in Pakistan, without specifying the areas. The announcement came during Prime Minister Shehbaz Sharif’s UAE visit.