“We told you so!”. And if you’re asking, YES, that felt very good to say! When rumor mongers and Mountain-out-of-a-molehill specialists were running wild spreading fear, uncertainty and doubt about the country’s economy, we asked our readers to invest in the KSE. We predicted on this very news site about 6 weeks ago, that the market was about to hit an all-time high. Now, admittedly, we expected this to happen in early 2008 and so the bulls have beaten us to the punch. But we’ll take what we can get, specially when it makes for a headline as delicious as the one above.
While we attempt to contain our
giddiness excitement, we hand you over to the trusted, “News” for more details.
KARACHI: Fresh post Eid buying and IMF’s confidence in the country’s economy, pushed the benchmark KSE-100 Index by 130 points to all time high level of 14789 on Monday.
According to the market analysts, investors returned to the market in high spirits after an IMF report, citing a positive outlook for Pakistan’s economy. Speculation over an extension in the capital gains tax exemption also supported the market, they added.
Trade volume rose to 262 million shares compared to an average of 216 million last week.
The broader market also stood firm led by banks and energy where 201 shares advanced out of 371 actives.
Analysts expect the index to cross the psychological barrier of 15,000 by year-end.