KSE index hits all-time high, crosses 34,000 points
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KARACHI: The Karachi Stock Exchange (KSE) rose 286 points or 0.85 per cent on Monday with the benchmark 100-index reaching an all-time high of 34,072 points.
Bullish activity in the KSE was fuelled by recovery in global oil prices and an anticipation of a 50 to 100 basis points (bps) cut in the interest rate by the State Bank of Pakistan, which is expected to announce the upcoming monetary policy on January 24.
Also read: 3pc cut in discount rates sought
The two factors appear to have resulted in the high trading activity by foreign and local investors.
Fertiliser, cement, oil and gas sectors were in the spotlight during the day's activity, after the price of crude oil in international market rose by 4.5 per cent (from $46.25 per barrel to $48.33 barrel).
— This is a developing story and will be updated accordingly
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On DawnNews
Comments (17) Closed
Jan 19, 2015 11:52am
Is this good??
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Jan 19, 2015 12:10pm
Can not understand this phenomena?
It doesn't match with other news?
Energy crisis, Target killing, Terrorism, hostile neighbors, war in tribal area
on other hand Stock market is in top ten best performing last year.
Crossing all time records
What is going on?
I hope to see some good analysis from DAWN
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Jan 19, 2015 12:24pm
Oil price recovery, when this happened? Brent Crude is marginally above $47
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Jan 19, 2015 12:51pm
For a layman like me can someone explain how oil price surge impact KSE positively? We are not oil exporters, drop in oil price mean low cost of goods sold/ freight cost and higher gross profit for Pakistani companies. Not making sense.
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Jan 19, 2015 01:05pm
This is Selling Time, the Market Players are playing to realize their Unethical Gain...!
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Jan 19, 2015 01:06pm
what does this mean ??
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Jan 19, 2015 01:31pm
How should a layman understand this ? is this good (positive signs for the country), Is this something in between? Is any U-turn expected in the next months ? What sort ?
Besides HOPE whiich the majority of the Pakistani Citizen has in this country what other positives can be xpected ?
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Jan 19, 2015 01:40pm
will come down like house of cards
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Jan 19, 2015 02:06pm
Stock exchanges are a symbol of investing opportunities in the country. I am not an expert, only a layman, though I can can say that it is a sign of some good investing opportunity in businesses like cement and those who are big lenders from the banks.
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Jan 19, 2015 02:08pm
For all those asking why is this happening: The stock markets work based on future predictions. There has been a lot of good stuff happening like CPEC, Gwadar, increased FDI, lower interest rates, increased imports, increase in federal reserves etc. Please act positively. Negativity all the time won't get us anywhere.
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Jan 19, 2015 02:11pm
@Adnan Khan
High petroleum price means profits for local refineries like Oil and Gas Development Company (OGDC) etc.
The news also covers the expectation of lower interest rate by 0.5 to 1% which will be beneficial for all companies who are seeking loans from banks, and you know that all industry needs different kinds of financing from banks. This will help in decreasing their finance costs and hence profit will increase.
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Jan 19, 2015 02:14pm
@jamali
An investment cannot come down like cards, if it is made after making proper research.
However, a blind following (unplanned investment) can lead you to a fall like you said!
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Jan 19, 2015 02:57pm
Compare this with india is Pakistan economy doing better.
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Jan 19, 2015 07:19pm
@Adnan Khan plz tell me all this...i need to understand all this...points means, etc....kindly if u have tim thn contact me....i am a student
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Jan 19, 2015 08:06pm
KSe Raising but no fuel in the pumps !! looks like fake run !! and that's the way cookie crumbles
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Jan 19, 2015 11:55pm
Stock market index is a leading indicator. It is entirely possible that investors believe that good days are ahead for Pakistan. However, we have ha many false starts before. Let's hope this one is for real!
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Jan 20, 2015 10:20am
@Adnan Khan the volume increases too sir
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