KARACHI: Impressive growth in the KSE-100 index in the last one year has revived confidence of both local and foreign investors.
The index broke past the 30,000-point barrier on Thursday amid encouraging corporate results and upgradation of Pakistan’s outlook from negative to stable by global ratings agency Moody’s.
Stock indices are considered a leading economic indicator world-over. When stock market rises it tends to reflect progress on the economic front as well.
Arif Habib Limited Chief Executive Officer Shahid Ali Habib, welcoming the upward trend in the stock market, said that the positive results have begun to emerge after effective measures taken by Finance Minister Ishaq Dar, which have improved the economic situation of the country.
“Many local and foreign investors are investing in the KSE,” he said. “Effective policies by the finance minister have also led to an increase in foreign exchange reserves and remittances in the country.”
He further said that the federal government is working on various power projects and positive impact of these projects is also being felt at the stock market. Karachi Cotton Brokers Association Chairman Nasim Usman also welcomed the historic growth in the stock market.
“The present government’s economic policies are encouraging foreign investment in the stock exchange,” said Usman.
Published in The Express Tribune, July 19th, 2014.
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