Pakistan out of World Cup, Money Diwali from Karachi to Islamabad, made a new record! – The Daily Connection

Pakistan’s World Cup 2023 campaign ended on Saturday. Pakistan suffered a big defeat of 93 runs in its last league match against England. On the other hand, Diwali was celebrated in Karachi. In fact, amidst the sorrow of Pakistan cricket team being out of the World Cup, two big good news also came. Pakistan’s stock market has reached life time high.

According to the information, Karachi Stock Exchange of Pakistan was seen crossing 55 thousand marks for the first time. The second big good news is that Pakistan’s Forex has increased by 1000 crore Pakistan Rupees. After which Pakistan’s forex reserves have increased to more than 12 billion dollars. Let us also tell you that after all there was a boom in Karachi Stock Exchange. How much has Pakistan’s forex reserves increased?

Karachi market crosses Rs 55 thousand

According to the report of Pakistani media group Geo News, Karachi Stock Exchange closed after crossing 55 thousand marks for the first time. According to media reports, KSE went up to 55506 points. However, according to Bloomberg report, it has closed at 55,399.66 points with an increase of more than 1000 points. According to media reports, the main reason for the rise in the stock market is the hope of success in the first review of the IMF. Quoting experts, the report said that Pakistan’s stock market may remain bullish in the coming days.

Increase in trading volume

Apart from this, due to buying by domestic investors of Pakistan and reduction in Pakistan bond yield, there is a bullish atmosphere in the market. According to Jio Kar report, the ongoing review of IMF is also creating an atmosphere in the stock market of Pakistan. There was an increase in total trading volume to 640.8 million shares compared to Thursday’s 482.7 million shares. The value of shares during the trading session was 21.1 billion Pakistani rupees. According to Geo News report, the average trading volume on PSX was at a high of 2.4 years.

Pakistan forex reserves increase

Till a few months ago, Pakistan’s forex reserve had reduced considerably. Even Pakistan had dollars left for importing for only a few days. Now improvement is being seen in it. According to the report of Jio, there has been an increase of 3.76 million dollars i.e. 1000 Pakistan Rupees in the foreign exchange reserves of Pakistan during the week ending November 3. Pakistan now has $12.61 billion forex reserves in its treasury. On the other hand, India’s forex reserve has reached 590 billion dollars during this period.