KSE 100-share index rises to all-time high

The Karachi Stock Exchange's (KSE) benchmark 100-share index touched an all-time high of 29,572.59 points on Friday, traders said.
According to a trader, the 100-share index rose by around 200 points, reaching the highest level recorded ever.
The index has been gaining strength since earlier this month after the rupee appreciation in the interbank market as investors expected exchange gains to further augment earnings in the coming quarters.
On April 1, the KSE index had also marked an all-time high of 27,576.59 points gaining by 1.52 per cent or 412 points.
A trader said the strong surge was also influenced by the reports that reimbursements of approximately USD 375 million to Pakistan on account of the Coalition Support Fund were on track and the launching of coal based power project by Prime Minister Nawaz Sharif in Punjab on Friday.

"The fact that the State Bank of Pakistan has also shown a week on week increase in the foreign exchange reserves it holds.