The index rose by more than 190 points today continuing the rising trend in the stock market. PHOTO: AFP
The index rose by more than 190 points today continuing the rising trend in the stock market.
The benchmark rose by 355.31 points yesterday. The day had started on a cautious note with most activity happening in the second and third tier stocks, pushing the market to 24,800 points.
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Economists define a stock market index as a barometer of economy. The rise in stock market index (KSE 100) is a consequence of a number of positive steps the PMLN Government has taken in improving the economy: 1. Improvement in electricity supply. The loadshedding has been reduced significantly as a result of resolution of circular debt (because of which the power supply line) was chocked, various power projects have been restarted (Nandipur, Neelam-Jhelum etc) and a large number of projects have been initiated (Quaid-e-Azam Solar Park) taking the power supply to more than 20000 MW. 2. Incentives for promoting Investment. Various incentives have been given for promotion of investment in Pakistan. Tax breaks have been announced to lure the people away from blocking their money in real estate and invest in the real economy. 3. Winning GSP Plus status from EU will boost the exports to Europe by more than US$ 1billion. 4. Control on corruption. The PML-N Government brings another good omen for the economy by reduction in corruption perception index by 12 points, as reflected in the Transparency International's Report. The TI had audited & cleared various mega projects of Punjab Government (eg, Metro Bus, RIC etc). The trend is in the right direction. 5. Smooth transition towards democracy. Pakistanis have faced a number of changes taking place smoothly in Pakistan during 2013; a Prime Minister hands over the charge to elected Prime Minister, a President completing 5years tenure handed over the charge to newly elected President, an Army Chief completing 6years tenure hands over the bacon to his successor (earlier the Army Chiefs completing more than 5years tenure were either assassinated or were forced to resign for threat of impeachment) and now the Chief Justice retiring and handing over the charge to his successor. A clear sign that institutions have become more important than personalities. While a few haters will continue to burn in their jealousy, the world is seeing quite positive developments in Pakistan
Long Live Pakistan!
Good showing. No wonder KSE is one of the best performing stock exchange in the world in terms of rate of return.
You need to understand the fundamentals of economics.Nobody can boost the market and inflate it to that level artificially just on the basis of ties.If there is money to be made investors will join the bandwagon.Most foreign funds are active in blue chip stocks because of strong earning outlook based on hefty dividends in the recent past.Smooth political transition and strengthening of democratic institutions in Pakistan will further build up the rally.Never let your political bias obscure your judgement.Good times are coming as Pakistan is likely to be granted European market access on preferential basis.You got to celebrate it and pray for its consolidation as strength of Pakistan depends on its economic viability.. @oBSERVER:
This is the magic work of two specialists who did it in the past also. Both are filthy rich and have their hand in every pie and are very very close to Nawaz Sharif. Were part of China visit including a private plane. This rise is totally false and this will be clear soon. Such rise is unnatural and therefore good to fool people.
strange that generally the stock market only performs well if the economy is performing well Pakistan is perhaps the only country where the economy is going down the drain ant the stocks are going up