KSE makes history ascending highest ever at 14368 points
Updated at 1500 PST
President Musharraf’s re-election as President announced unofficially gave a tremendous boost to the morals of the investors always longing for stability and consistency in policies, which triggered a celebration in KSE as well today, rocketing the KSE-100 index up by 269 points to its all highs at 14368 at the close by beating its own past record of July 13, 2007 at 14202 points. The market from the very outset was seen jubilant and buoyant with optimism as the investors highly charged by the unofficial announcement of President General Pervez Musharraf’s re-election went on pulsating and vibrant in taking new positions, while briskly trading in blue chips and other shares. Turnover today as compared yesterday exceeded by 60 million shares, as it aggregated to 340 million shares. Volume leader TRG Pakistan rose by Rs0.55 to close at Rs14.90. Among other prominent companies, OGDCL gained Rs1.80 to close at Rs125.35, while Pakistan Petroleum soared by Rs8.70 closed at Rs285.95. KSE-30 index also remained in the frontline of today’s bullish-runs, which saw the index leaping by 383 points to close at 17714 points. Analysts believed that the index might be seen making further new records in the days to come
Re: KSE makes history ascending highest ever at 14368 points
I see Sa1eem is busy minting money, I am sure he is praying for additional 10 years for Musharraf, what lawlessness? what corruption? what justice? Make some money thats all we should care about now.
KARACHI: The bullish trend continued on second day at the Karachi Stock Exchange and index closed at 14,485 points, the highest level in the history of the country. Market opened with an increase of 76 points and on one occasion the index during the trading crossed also the level of 14,500 points. Local and foreign investors looked active in oil and gas sectors. At the end of trading today, KSE 100 index with an increase of 118 points, closed at 14,485 points. Thus, the index on successive second day succeeded in creating a record of crossing the one more highest level in the country’s history. Trade volume was 350 million shares which is 100 million more compared to previous day. The largest trading was seen in the shares of OGDCL price of which increased by Rs.5.05 and became Rs.130.45 at the end of the day. Price increased in the shares of TRG Pakistan by 20 paisa whereas decreased by Rs.3.00 in the Bank of Punjab, after which they closed at Rs.15.15 and Rs.105.70, respectively. KSE 30 index with an increase of 153 points became 17,872 points.
Analysts think that index in the coming days may cross 14,700 points.
Re: KSE makes history ascending highest ever at 14368 points
it crashes again, juicing the small investors and making brokers rich. since when stock market has become the indicator of national economy. Have you ever seen stock market index being quoted as indicator of economy in any report about US economy etc etc. Please correct me if i am wrong but with citations
Re: KSE makes history ascending highest ever at 14368 points
it crashes again, juicing the small investors and making brokers rich. since when stock market has become the indicator of national economy. Have you ever seen stock market index being quoted as indicator of economy in any report about US economy etc etc. Please correct me if i am wrong but with citations
True, and I assure you, I am well aware of the real national economy of Pakistan... this is just a feel good article, we all know what our economy is really like.. I just wanted to know what happens when the bubble bursts as far as the stock market is concerned and the impacts of its correction.
Re: KSE makes history ascending highest ever at 14368 points
majority of individual investors will not be experts. THey might have invested without much knowledge and the stocks might end up oversubscribed. So this does not indicate the health of the economy. But if this growth is contributed by big investment firms who know very well where to put their money, then it could be an indicator about the prospects of the economy. So it all boggles down to the nature/source of investment in stocks(acc to me).
Re: KSE makes history ascending highest ever at 14368 points
Why dont you stop being a 'mind reader' and lets talk about economics, every expert that has analyzed the Pakistani stock market has said that it will correct itself, and it would be great to know what the reprecussion of that would be, before patting becoming mind readers and patting the Government for a job well done. Yes, if by some miracle it doesnt correct itself and stays this way, we can continue the gloating process.
Re: KSE makes history ascending highest ever at 14368 points
i am not sure why you people are s enthusiastic when the stock market goes up. there could be a lot of reasons for a stock market going up. in markets like Pakistan where inflation is high and money is being given out in credit like crazy, these kind of things happen. it might give you a perception that the economy is going well and that investment is being made. in reality stock market is simply a place for the exchange of assets. no new assets are being made for the most part, and as such no economic investment takes place. the only plausible reason is that of speculation. and if you know what was the great depression of the thirties, you will know that it was this kind of stock market bubble which burst and resulted in that.
how far are we from that kind of depression, god only knows.
Re: KSE makes history ascending highest ever at 14368 points
Pakistan receives $300m foreign investment in last three weeks: Dr. Salman Shah
ISLAMABAD, Oct 12 (APP): Pakistan is a most emerging country in world markets after China due to prudent economic policies introduced by the present government, Advisor to the Prime Minister on Finance Dr. Salman Shah said Friday. “The investment of $ 300 million during last three weeks speaks about the confidence of foreign investors, which they have in policies and conducive atmosphere of the country,” the Advisor told a private television channel (GEO). He said prices of essential commodities in Pakistan are comparatively less than the other countries of the world, saying “Pakistan is most inexpensive country in this part of the world.”
To a question about inflation, he said the government is making sincere efforts to bring down inflation. Dr. Salman said the country achieved economic progress during the last five years and now its fruits has started to pass on to common man. He said poverty level has declined during the last few years due to effective policies of the government. The Advisor said conducive environment has been provided to foreign as well as local investors, which has created lot of job opportunities. He said economic indicators like foreign exchange reserves, foreign investment, remittances and size of economy are showing that the country is moving fast on the path of consistent progress and development.
Re: KSE makes history ascending highest ever at 14368 points
at the same time poverty is also on the rise. i wonder who is pocketing all these points and money thats coming along with them. already rich n wealthy are getting more filthy rich n wealthy while poor and unfortunate are becoming more poor and thus desperate.
Re: KSE makes history ascending highest ever at 14368 points
Actual Index number does not have much to do with the value of the stock market. Index is a relative figure to show how has stock market performed over time.
A rise in index value means that there are more buyers than sellers, which means that money is coming in to stocks which means investors have confidence in economy (or in those sectors which they are investing in). I don't see the SE bubble bursting anytime soon. KSE is riding on the waves of two commodity stocks: Energy and Cement. Because of increase in oil price in the world and internal increase in consumption of oil/gas and cement, these two commodities will not be coming down in the near future (well! if NS policy of freezing Forex funds is not repeated, i.e.).
