Re: Bulls push Pakistan share index above 8,000-points
The KSE-100 index could hit 12000, and still it wouldnt mean anything. The KSE index is one of the most misleading indexes in the world. Normally the elevation of any exchange index is somehow relative to an upward swing in the economy, but in the case of KSE, it is misguiding in the fact that index weightage is distributed very unevenly. Within the past 3-4 months, OGDC alone has been responsible for adding at least 2000 points to the index. OGDC has a 23% weightage in an index that includes 99 other companies. Add PTCL with its 14% weightage, and you have 63% weightage left for 98 companies.
Right now the KSE gives the look of a casino, rather than a stock exchange.