KARACHI, April 11: Karachi Stock Exchange chairman Salim Chamdia said on Thursday the outlook of the local capital market had altogether changed after September 11 events, raising hopes from the KSE-100 index to set new record around 3,000 points during this year.

Taking to APP here, he said the market had registered a growth of 45.28 per cent with a gain of 569.19 points from October 12, 1999 (Index closed at 1,164.43).

The market witnessed highest index at 2,054.43 on March 22, 2000 and lowest at 1,075.16 on October 2, 2001, whereas the highest turnover was recorded on March 21, 2000 at 536.33 million shares while the lowest turnover was noted on September 3, 2001 at 15.14 million shares.

Salim Chamdia, responding to a query said the capital market was highly sensitive to the socio-economic and geo-political changes and promptly reacted to the feelings and general perceptions.

Talking about the major achievements that changed the investment climate, he said the prudent policies, introduction of transparency, good governance, reduction of interest rates for saving schemes, de-regulation of fiscal sector, independent status of the State Bank, activation of the SECP and economic reforms were the measures taken by the government that were recognized and valued by the donors before September 11.—APP