The benchmark index rose by 1.52% or 412.68 points, reaching an all-time high of 27,572.59 points. PHOTO: INP
The index rose by 1.52% or 412.68 points, reaching the highest level recorded in its history.
The Index has been gaining strength since earlier this month after rupee appreciation in the interbank market as investors expected exchange gains to further augment earnings in the coming quarters.
On March 20, the index ended at 27,148.52 points after falling 0.40% or 110.16 points.
Earlier this month, the index rose 1.06% or 284.03 points to end at 27,176.26 on March 10.
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@Uza Syed: You shouldn't take part in any of the stock markets of the world since you don't understand inherent risks in it everywhere. There is a new book out by Lewis talking about continuing fraud in US stock exchanges since 2007 collapse and how stock markets in US cheat small investors.
@Uza Syed: MA is absolutely right. You need to learn the economic fundamentals & technical analysis before taking any position in the stock market. The stock market index would have been much higher had there been no market crash in March 2005 and then again in August 2008 when the trading was completely suspended till December 2008. Although, after each crash, forensic investigations took place yet the culprits were protected by the then President Pervaiz Musharraf in 2005 and then his NRO-beneficiary Asif Zardari in 2008. Despite all the mishaps in the past 09 years, Pakistani stock market is still one of the best stock markets in the world.
Regardless of what a few pseudo-intellectuals say Stock Exchange Index is always considered asBarometer of the economy. Consistently rising index always reflects rising economy.
@shah: Regardless of what is causing the improvement in the stock market and economy, I don't think anyone doubts that things are finally getting better economically in Pakistan.
@Uza Syed:
"The House always wins" not the 'Bank'. :D
@Uza Syed:
That's the perfect attitude to ensure that cost of capital for local companies remains high and we can continue to depend on imports for all of our needs
@Uza Syed: @Parvez: This is when the problem arises when we get people commenting on subjects of which they have little or no clue about. Market rise to dubious levels and crash because of so called small investors (in markets lingo they are referred to as dumb money). In my view they are nothing but a bunch of greedy people who are after big gains for small input and that is why I have no feelings and respect for them. They are the very people who would spend days and weeks before buying a fridge or any other tangible asset from a shop. they would argue sabzi wala and phal wala for inflated prices. But when it comes to investing in stock market they think that they can make big gains by following their stockbrokers advise or simply put "punting". They don't bother to understand that it is a GAME, sure markets are rigged! but there are several clues that a smart investor can look for and yet make a decent living. If you want to make big in stock market you have to invest more time than money. It is one of the most ruthless yet most rewarding business in the world. I have more respect for people who study the markets, remain humble and stay disciplined. Successful Investing is just like any other profession for instance doctor, engineer, actor, pilot. you can't expect to make it big from the very beginning. it takes time and years of study. Because at the end of the day its not about making money but RISK MANAGEMENT.
@Uza Syed: I suppose you have never heard of the New York or London Stock exchange? - despite regulations, all manner of manipulation and trickery is always at play. I think the advice still stands, if you can't bear the heat, don't go near the fire! The fact that the Stock markets in Pakistan are upbeat is more due to the positive impression that Pakistan has been creating in the West this past year where most media reports are positive on the economy. That's not to say that Western investors won't leave with the their money as soon as they see a better market or chance to improve their investments!
@Uza Syed: Well said....... its like playing roulette in dubious casino.
@A.M.Khan Nope, I'm not complaining, not at all. I'm just warning the simpletons of the land to watch out and protect themselves because Ali Baba is back in town and this time he is not with just 40 chores (thieves) but a whole lot more. I don't know which world you are referring to where Stock Market is allowed to be manipulated and dice are loaded against investors without any regulatory authority. As far as your 'wisdom' about need to be 'smart to win' is concerned all I can say is that robbery in broad day daylight by a bunch of thieves is not smartness, it remains act of thievery and proof of moral decay and height of criminal justification of crimes. :
@Uza Syed:
A.M. Khan is exactly right. Stock exchange is a gamble. So is much of life. You make guesses. Hopefully based on some info. As someone said: in a stock market you try to guess what others are guessing about other people's guesses about the state of the stocks being traded.
@Uza Syed: This happens all over the world. If you don't like it then stay away from it. Why to complain!!! You have to be smart to win.
Let the poor, small investors beware, bandits are hyperactive again. Stock exchange converted yet one more time into a gambling pit and just be reminded that in a gambling casino it's always the 'Bank' that wins.