KSE hits record 17,000 points
(Najamuddin Ghanghro, Karachi(original from Larkana))
KARACHI: Benchmark KSE
100-share index crossed the 17,000 points for the first time in country’s
history.ay trading for the first time in country’s history on buoyant investors’
sentiments.
At 11:20am Monday, the KSE 100-share index was trading at 17,007.95 points with
a volume of 33.26 million shares, according to media reports.
Dealers said that market sentiment is buoyant as investors believe that the
economic growth will pick up following a cut in key interest rate by 50 bps to
9.5 percent by the central bank earlier this month.
Despite economic turmoil and instability in the country, Karachi Stock Exchange
that had topped world bourses list some time ago, continued to record
considerable trade even on the last day of the year.
The KSE benchmark 100 index that saw day-after-day boom in the last one and a
half month crossed the limit of 17,000 points on Monday.
The achievements were made in-spite of the fact that the law and order situation
in the country remained shaky, while the confidence of investors could not be
fully revived.