Pakistan stocks end record high

[nadeemkhan110]

KARACHI: Pakistan stocks ended at a record high on Monday after State Bank of Pakistan left interest rates unchanged last week, dealers said.

The benchmark 100-share index on the Pakistan Stock Exchange closed up 0.75 percent at 39,800.64. It hit an all-time high of 39,917.13 during the session.

The SBP in its monetary policy announcement on Saturday kept its discount rate unchanged at 5.75 percent.

"Unchanged interest rates in monetary policy announcement led to investor interest in banks, creating a positive sentiment in the first session of the week," said Hammad Aman, manager equity sales at Topline Securities Pvt Ltd.

United Bank Ltd gained 0.60 percent, MCB Bank Ltd was up 1.58 percent, Bank Alfalah Ltd rose 4.18 percent and National Bank of Pakistan gained 4.99 percent.

The rupee ended at 104.81/104.85 against the dollar, unchanged from Friday´s close.

Overnight rates in the money market fell to 5.40 percent from Friday´s close of 6.30 percent.

 

[Viper0011.]

KARACHI: Pakistan stocks ended at a record high on Monday after State Bank of Pakistan left interest rates unchanged last week, dealers said.

The benchmark 100-share index on the Pakistan Stock Exchange closed up 0.75 percent at 39,800.64. It hit an all-time high of 39,917.13 during the session..

Where are all the haters who argued with me three years ago when I used to write about how Pakistan was going to get into the Emerging market status like the BRIC countries, and that the Pakistani stock market would triple before this civilian government leaves?? And I mentioned the auto policy, end to power outages and career advancements in Pakistan due to electronics manufacturing (HAIR, eventually some LG and Samsung too)? All that is becoming true but the haters were so argumentative about that all they'd say was: "nothing is going to happen inside Pakistan".

Now every country and every-other thread shows progress being made within the Pakistani system and the economy!!

 

[LA se Karachi]

It seems like every month the PSE is reaching a record high.

 

[jermankill]

right setup to right direction still long way to go