LSE-25: Index closes at record high

LAHORE:

The Lahore Stock Exchange (LSE)-25 Index closed at a record high on Wednesday, with analysts crediting declining commodity prices as well as easing of political tension. 

The benchmark LSE index closed at 6,154.14 points, increasing by 56.49. The previous peak of 5,895.55 points came on June 11, 2014. Now the investors’ focus has shifted towards economic matters from the political affairs of the country, said LSE CEO Aftab Ahmed Chaudhry.

On the economic front, official data showed that inflation had plunged to a low, raising investors’ hopes that the central bank might slash the basic interest rate in its next review.

“The inflation (rate) has come down to 3.96% year-on-year, so investors look forward to corresponding cut in interest rates,” he said. In line with the international fall in commodity prices, especially oil, the government slashed petroleum prices that helped reduce inflation figures.

Published in The Express Tribune, January 1^st,  2015.

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