Karachi Stock Exchange closes at all-time high
The Karachi Stock Exchange’s (KSE) benchmark 100-share index rose 0.41% or 63.92 points to end at 15,712.21 points.
Trade volumes, however, dropped to 108 million shares, compared with Tuesday’s tally of 140 million shares. The value of shares traded during the day was Rs4.20 billion.
Shares of 376 companies were traded on Wednesday. At the end of the day 186 stocks closed higher, 124 declined while 66 remained unchanged.
Jahangir Siddiqui & Company was the volume leader with 13.35 million shares gaining Rs0.56 to finish at Rs13.99. It was followed by Nishat Mills Limited with 4.57 million shares gaining Rs1.35 to close at Rs58.85 and Askari Bank with 4.32 million shares gaining Rs0.06 to close at Rs15.47.
Foreign institutional investors were buyers of Rs148.84 million and sellers of Rs236.41 million, according to data maintained by the National Clearing Company of Pakistan Limited.
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@rakshjhunjhunlol: the british itself purchases jet from french manufacturing company dassoult rafale......:P....its ok to give contract to french countries along with developing indegenous techonolgy.....infact its one of the best companies in world for jet manufacturing....ur statement made no sense at all....:p
pakistan rupee is degrading 1$=95 PKR...hmmmmmm
pakistan economy in mess...ambani brothers can buy all services and all companies listed in pakistan's stock exchange and will still be left with billions of dollars......plz stop the comparison..good luck to pakistan ...:D
@ jism
British High Commissioner to India, Sir James Bevan...would say that, because hes the BRITISH High Commissioner to INDIA. lol.
Also, since when have high commissioners been fund managers. Fund managers are selling out of India lock stock and barrel at the moment.
"as i said, Pakistan’s stock market performance is only linked to the Pakistanis investing in it"
No its not, many international funds are buying in via etfs, You really know so very little.
India has one huge problem, which is bureaucracy . I dont dispute the long term growth prospects of a country which has over a billion people. But right now growth is stalling badly.
lets not even go to the ease of doing business index. Where Pakistan ranks much better.
As for India-UK relations, seems like they arent that rosy at all, as India gave a 13 billion $ contract for fighter jets to the French instead of the British.
@RakeshJunjhunlol: on october 2 ,British High Commissioner to India, Sir James Bevan made this comment
‘India, U.K. economies a natural fit’
Stating that he wanted to nail a few myths, he said the Real India, beyond New Delhi, continued to grow at a rate of 10 per cent or more. There, “almost everyone’s standard of living is rising. In the real India, a vast middle-class is growing up, generating more prosperity and helping ensure lasting stability,”
"as one of the largest markets in the world, India was important for the U.K. as it wanted to return to strong and sustainable growth. “If the U.K. is going to succeed in export-led growth, it has to succeed here,”
“equally committed to ensuring that the world’s best and brightest still come to the U.K. for the simple reason that it’s in our own self-interest. Many of those best and brightest are Indian,” and,you missed some thing kid IMF warns of deteriorating Pakistan economy
as i said, Pakistan's stock market performance is only linked to the Pakistanis investing in it,it's not linked to outside world at all.when ever our stock market ends high,we don't go deluding that our stock market are better than UK's or American or Chinese. this is economics pal, you still have a long way to go,try to analyse the market rather than jumping to news. India's growth story has just begun, just watch us how we will make our way into top 3 economies of the world by 2025.
@ Jism, Who was comparing economies, Its wholly irrelevant, when the yields are rubbish in India, and capital growth better in Pakistan. Indias growth story has stalled, Pakistans hasnt even got underway. Thats the fact.
Dont tell me about market caps of companies as any investor today, wants to see growth,..No body wants to invest in bloated blue chips in India. Tell what you told me to all the British Investors who got destroyed on Essar, because of Indian politics.
@Saad Ullah.. ever heard of countries called Japan, Taiwan, Singapore and oh yeah - UK
Sell when everyone has and buy when no one wants.
@jism and what about the population and land area of india compared to pakistan? obviously smaller country will have smaller volumes!
@RakeshJunjhunlol: leaving apart the foolish comments,here are some ground facts. Bombay stock exchange's market capitalization is worth more than 1 trillion $,while that of Karachi's is just over 10%(120 billion dollars) of Bombay's and another Indian stock exchange called."National Stock Exchange of India" is worth 985 billion dollars. unlike Pakistan' economy, India's economy is intertwined with global economy and the leading economies of the world are in recession,so India was bound to be affected by this. Pakistan has no significant foreign investors, so it largely remained unaffected, and what Pakistan exports in an entire year, India exports it in one month. Pakistan's stock exchange performed better because it is insulated from the world economy,and India's is not. India's stock exchange is 14th largest in the world.when Pakistan's economy becomes truly global like that of India's,it will experience the same effect that India is experiencing along with the world.if to compare Pakistan' s economy to India's is utter foolish. it will take more than a decade for Pakistan to reach the current level of Indian economy. if you add total net value of top 5 Indian companies,they surpass the total value of economy of Pakistan.
@RakeshJunjhunlol: Rakesh Junjhunlol spelling mistake.........don't hide u r real name Mr. Pakistan
@RakeshJunjhunlol: vow....insider story....we appreciate your enlightening comment
Before all the Indian trolls jump onto this massive positive coming out of Pakistan. The KSE was one of the best performing stock exchanges in the world this year.
Anyone who had bought into the Indian stock market in the early 2000's, would have done extraordinarily well. Sesa Goa was one stock which had a phenomenal rise, amongst many others.
Right now, the indian market is a joke. And offers little to no value. Kingfisher airlines LOL, Essar energy (major indian listing in London) LOL, worst performing stock on the ftse 100 last year.....why was that, indian govt anti-business politics.
Next one to go down, Anil Agarwals Vedanta, over leveraged, BHP wannabe, will crash and burn badly.
This is great news! More so because unlike past this record high has been achieved without Badla or cheap credit which resulted in people gambling away money borrowed from banks.