Pakistan stock exchange registers yet another record-high

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KARACHI: Smashing records continuously every few days, KSE-100 Index of Pakistan Stock Exchange (PSX) on Thursday registered yet another record-high, closing at 47,666 points. This reflects a positive change of 242 points (approximately 0.51%).
The market, after opening at 47,424 points, shot up 286 points to peak at 47,710 points at 1:24 PM during trading hours.
More than 197.5 million shares swapped hands during market hours today. In monetary terms, exchange of almost Rs. 14 billion took place. Top traded stocks were Dost Steels Ltd. (DSL), BO Punjab (BOP), K-Electric Ltd. (KEL), Fauji Cement (FCCL), and Dewan Cement (DCL).
In the past five days, Fauji Fertilizer Bin Qasim, Trust Sec & Brokerage, and Linde Pakistan Limited have recorded unusual bursts of activity, as per pkfinance.info – a financial statistic website.
Pakistan’s benchmark index has risen around 40% this year. It has also surged a massive 400% since 2009 to date.
Mid-December, price of oil rose, triggered by consent of non-OPEC members to reduce production. In this regard, JS Global CCO Khurram Schehzad on December 9 said that the persistent upwards momentum is a good sign for the market.
In addition to this, Pakistan anticipates key foreign inflows in near future, as it is set to get back its Emerging Market position in May 2017, according to MSCI.

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