Pakistan Stock Exchange reaches 17-month high

On Friday at 10 am, the Pakistan Stock Exchange opened on a strong note with the KSE-100 Index breaching the 43,000 points level, a level not seen since the last 17 months.

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  • The country’s ranking in the ease of doing business jumped 28 places to 108th in 2019.”
  • According to the Chairman, macroeconomic stability is the reason behind the increase and improvement in the current account balance.

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On Friday at 10 am, the Pakistan Stock Exchange opened on a strong note with the KSE-100 Index breaching the 43,000 points level, a level not seen since the last 17 months.

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While talking to Dawn, the Chairman of the Pakistan Stock Exchange, Sulaiman Mehdi, said, “The current account deficit stood at $19.9 billion in 2017-18. There is a sustained drop so that the deficit shrank to just $1.5bn in the four months of 2019-20. The country’s ranking in the ease of doing business jumped 28 places to 108th in 2019.”

Macroeconomic Stability

According to the Chairman, macroeconomic stability is the reason behind the increase and improvement in the current account balance.

The Chairman said that all these factors have contributed and helped the investors to view the future with optimism.

Much-Needed Relief

Moreover, chances of war in the region due to US-Iran conflicts cleared out, which gave the investors much-needed relief.

Sectors contributing to the strong performance on Friday included:

Sectors Gaining points
Banking 196 points
Exploration and Production 195 points
Power 87 points
Fertilizer 63 points

 

Scrip-wise major contributors Up by
Pakistan Petroleum Ltd 5%
Hub Power Company 4.6%
Oil and Gas Development Company 3.8%
Engro Corporation 1.6%
MCB Bank 1.6%
Bank Al Falah Ltd 3.8%
United Bank Ltd 1.2%

Also See:

”Pakistan Stocks Outperform The World’s Leading Stock Markets During The Last Three Months” – Bloomberg

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