Pakistan stocks jumped 0.41 percent on Wednesday, closing at a record high as investors hope for a further slash in interest rates, dealers said. The Karachi Stock Exchange’s benchmark KSE-100 index gained 63.92 points, or 0.41 percent, to reach 15,712.21, eclipsing the previous highest 15,676.2, recorded on April 20, 2008. Pakistan shares have suffered heavy losses in the last four years due to global recession and domestic economic fragility. “A cut in the interest rate is expected on Friday, which has boosted the market and thrilled investors,” analyst Mohammad Sohail of Topline Securities brokerage told AFP. Pakistan is also scheduled to hold general elections next year, which have raised hopes among investors about the prospect of more effective government, Sohail said. Pakistan’s central bank slashed its benchmark interest rate in August from 12 to 10.5 percent to encourage private sector investment. The cut came despite forecasts that inflation, running at 10 percent, would miss the government’s target of 9.5 percent for the current fiscal year, which runs until June 30, 2013
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor