Stock market: KSE rallies to four-year high

Published: March 29, 2012

Investors linked rumours of the finance minister’s visit to KSE to an official announcement on relaxation of the capital gains tax regime. PHOTO: AFP

KARACHI: 

The Karachi stock market continued its resolute upward march on Wednesday, shrugging off incidents of arson and violence witnessed in the city a day earlier as it closed at four-year-high levels.

Analysts and dealers attribute the bout of resilient optimism to reports circulating in the market that relief on the capital gains tax regime may be just around the corner, while positive expectations for first quarter earnings have also helped boost investors’ interest.

Topline Securities Equity Dealer Samar Iqbal noted that “the positive thing about today’s rally was the rising rupee turnover that crossed [the] Rs9 billion mark.”

Mujtaba Barakzai, analyst at JS Global, said investors linked rumours of the finance minister’s visit to KSE to an official announcement on relaxation of the capital gains tax regime.

Published in The Express Tribune, March 29th, 2012.

Reader Comments (9)

  • usmanx
    Mar 29, 2012 - 6:50AM

    what a country this.. It is wild west on the streets of karachi and the stock exchange hits 4-year highs. Only in Pakistan. Love us or Hate us, you cannot deny our resilience.

    Imagine the possibilities if we have even some REMNANT of law and order.

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  • CK
    Mar 29, 2012 - 7:13AM

    Artificial and fake market which has no credibility or value.

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  • saeed
    Mar 29, 2012 - 10:44AM

    @CK yes people investing 9 Billion a day all are fools and stupid….what can I say more..

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  • yasir
    Mar 29, 2012 - 11:40AM

    @usmanx:
    for sure man, if we can achieve at least the bare minimum peace and stability the economy will start roaring again. the current projections for pakistan economic future are meager but i sincerely hope that they are wrong.

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  • S
    Mar 29, 2012 - 5:19PM

    INSHALLAH we will have peace and progress…Beleive in ALLAH alone!

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  • Anonymous
    Mar 29, 2012 - 6:07PM

    @saed more monies is traded in one second on the spx than kse in a month so not much to boast about the mkts ar supposed to give a projection going forward six months i dont see things improving going forward with current government in fact they will get far worse pak as limited energy qhich is destroying all sectors factRecommend

  • Anonymous
    Mar 29, 2012 - 6:33PM

    technical analysis cannot be applied to kse because ltd liquidity so is easy to manipulate and no law and order so lets see the fundamentals awful why the highs? cheap loans to certain corrupt officials and black market monies its just a money laundering operationRecommend

  • KASHIF NISAR
    Mar 29, 2012 - 9:42PM

    same old wine in new bottle get ready small investors big fishes will show bullish trend to sell the shares and than get away with the downfall

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  • Yaida
    Mar 30, 2012 - 4:26PM

    @usmanx, the value of the Pakistani rupee is less than half of what it was 4 years ago. So in real terms, the KSE has fallen by over 25% during this period.

    Recommend

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