Record high: KSE 100-index moves past 31,000 points
Since the start of trading today, shares of 200 companies increased while shares of 44 companies declined.
The previous peak of 30,593 points came on November 5 which analysts credited to falling inflation and commodity prices as well as to easing of political tensions.
Official data has showed that inflation had plunged to a 17-month low, raising investors’ hopes that the central bank might slash the basic interest rate in its next review.
The country’s long-moribund economy has shown some glimmers of revival under Prime Minister Nawaz Sharif’s government.
Ratings agency Moody’s upgraded the country’s outlook to ‘stable’ from ‘negative’ in July, citing its improving external liquidity position and commitment to reforms.
COMMENTS (15)
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@Frank: I don't think you can judge Nawaz Sharif on hardly a year in power but the truth remains that he is showing more resolve in improving the economy than anyone. If he stays 5 years, the nation is going to be transformed for the better and this scares Imran Khan. Imran Khan wants to scare away development and investment like he scared away Chinese President but it seems Nawaz is still able to bring in projects to improve Pak economy, infrastructure and future. You think polio only came about in last year? No - but at least Nawaz Sharif and Shahbaz Sharif are serious about fixing things.
@Nida Alvi:
You are completely and utterly delusional. ,Nawaz Sharif is weakening - The Economist
"Even close supporters fret that his main achievement will be the modest one of keeping himself in the job.
Three problems weigh {Nawaz Sharif] down. First, failure on economic and social matters. Inflation, electricity brownouts and the absence of free-market reforms mean incomes are hardly rising and growth is elusive. A wealthy ex-backer says he is disillusioned by Mr Sharif’s incompetence as a manager. The prime minister is prone to wasteful populism: the dishing out of laptops and a part-built “metro bus” project linking Islamabad and Rawalpindi. Polio experts condemn his government’s feeble efforts against the disease given that Pakistan is home to four-fifths of all polio cases."
@Sami: Dear Sami, You are right on the ball and do not need to do Economic 101. Economics from the time of Adam Smith in the eighteenth century has always favored the money junkies in the banking cartels, and subsequently the large corporate entities. The little guy used to do sort of OK, until Milton Friedman from the Chicago School of Economics became influential. Now the whole world has become a disaster for the average person, and most of the wealth is going to the top 10 % and crumbs are trickling down to the rest. All governments are colluding in the fraud, and it does not matter which side you vote for.
@Sami: May I recommend you to get admission in Economics 101?
@Musician: Hence proven that Imran Khan lacks wisdom and so do his follower mureeds! You don't know who is ruling Thar because Imran Khan is obsessed against PMLN only. He has never ever criticized PPP singly, whenever he takes the name of PPP he takes PMLN in the same breathe. He has never been to Thar despite the famine in two years. The flash floods in AJK, KPK & Punjab could not be controlled. But yes, the damage has been controlled. When KPK was flooding, CM-KPK Pervaiz Khattak was dancing on a Container with Imran Khan, leaving aside over 40 dead bodies in Peshawar alone. On the other hand, CM Shahbaz Sharif went to every nook & corner to ensure rescue & relief to the flood-affectees. The economy of Pakistan was flourishing with gaining stock market index and strengthening PKR but the shameless dharna on the obsession of selfish psychos Imran Khan, Sh Rasheed & Qadri pushed Pakistan backward. The improvement in stock market & bounce-back of KSE is a testimony that large majority of Pakistanis have rejected Dharna & his negative rants. The real world is much different from SKM Hospital-funded Facebook hype!!
Stock exchange have nothing to do with the life a common man. It is not at all an indicator of good governance and measuring living standards of citizens. I never such indicator in any research during my whole life.
@Nida Alvi
Its not Frank who is living in a fool's paradise but you - have you seen what is happening in Thar. have you seen the amount of loadshedding that happened in punjab this year. have you seen the response of Showbaz Sharif to recent floods - donning rubber boots, doing a photoshoot in water and thats it..thats what they have done again and again for the past 30 years while taking multiple turns!
Look beyond your internet and facebook and youll see have the country's population starved, no education, no medical attention. and our beloved pm buys two rare BMWs worth $2.4million dollars..shame on all of you PMLN supporters.
@Frank: We did not read that, Please share that here.
Ultimate reason of IK's "Rona Dhona"
@Frank: Continue to live in fool's paradise. Pakistan is here to stay and to grow & develop. The improvement in economic indictors is a testament that very large majority of Pakistanis have rejected the negative politics of Imran, Qadri & their handlers. Long Live Pakistan!
Sharif's followers starting celebrating at the slightest bit of good news, and indication perhaps of how desperate they've become. Please see the latest edition of the The Economist for their assessment of the performance of the Nawaz Sharif government so far. According to The Economist the PML-N government is a failure on ALL fronts and the only success it might claim is merely surviving until the next election, and even that is doubtful.
That's why Imran wants to come in power via some shortcut, because he knows, if Nawaz would complete his tenure, he will be selected again as PM, based on his performance. Come investment Come. Ro Imran Ro.
Go Imran Go! Stay Nawaz Stay!
At last some good news on the economic front. Salams