Re: Pakistan Economy continues to perform well, says IMF
Karachi Stock Exchange (KSE) reaches highest ever level. :k:
Stocks rise to record in Pakistan
Bloomberg
Published: December 24, 2007, 22:58
Karachi : Pakistan’s benchmark stock index closed at a record on expectations political and economic stability will return after national elections next month. MCB Bank Ltd. and Oil & Gas Development Co. paced gains. The benchmark Karachi Stock Exchange 100 Index added 128.40 points, or 0.9 per cent, to 14,788.77 at close, beating the previous highest of 14,787.55 on October 19. MCB Bank, the country’s biggest by market value, gained 3.1 per cent to Rs429. “Local investors are bullish on the market as they see political and econ-omic stability after the elections,” said Faisal Bilwani of international equity sales at Elixir Securities Ltd. in Karachi. “That will attract foreign investors to the market.” Pakistan’s parliamentary elections are scheduled for January 8.