Pakistan’s Stock Exchange Posts Largest Monthly Gain in 6 Years

[RangeMaster]

Posted 6 hours ago by Jehangir Nasir

The Pakistan stock market has posted the largest gain since May 2013 as the market closed the month on a gain of more than 5084 points in a single month.

The benchmark index saw a record-breaking gain during the month of November with astonishing volumes reaching more than 3.10 billion shares traded during the month alone, said Malik Fazal Nadeem, who is an Assistant Vice President at BMA Capital Management.



The last time the market had gained this much points was back in May 2013, noted Fazal.

The market gained 14.9% in November as compared to 15.0% recorded in May 2013.

He further said that KSE-100 has gained more than 36% since the bottom.

The market ended the week with a bullish run as the benchmark index, KSE-100 crossed the point mark of 39,000 points. The bourse managed to cross the 39000 point mark for the first time since March 2019.

The KSE-100 index maintained an uptrend from the moment trading began, as it touched an intraday high of 746 points on Friday. At the end of the day, the benchmark index gained 581 points or 1.48% to close at 39,287 points.

Usama Bin Saeed, who is a Senior Manager Institutional Sales at Multline Securities noted that in today the top 5 scrips owned 43% of total volumes of Kse-100. Further, he stated technically, they see the golden cross on a daily chart which is a technical chart pattern. He noted that it is indicating the potential for a major bullish rally in the market.

Some analysts said the six-month extension in tenure of the serving Chief of Army Staff General Qamar Javed Bajwa ended political uncertainty, which played an important role in attracting more investors.

A further improvement in the country’s foreign currency reserves also encouraged the investors to buy. Economic indicators are improving and stability in currency parity went on to boost the confidence of the investors.

In all, 431.85 million shares were traded at the exchange today. Of the 385 scrips traded, 282 advanced, 87 declined and 16 remained unchanged.

https://propakistani.pk/2019/11/29/pakistans-stock-exchange-posts-largest-monthly-gain-in-6-years/

 

[blueazure]

the only stock mkt in the world which goes up on army chief extension, hhahahaha

 

[Syed1.]

the only stock mkt in the world which goes up on army chief extension, hhahahaha

It's been going up for the past 3-4 months

 

[God Parshuram]

This is an indication of growing confidence of investors. Good luck.

 

[SD 10]

It does depict growing confidence but it is by no means a measure of economic revival. We have a long road ahead, need to work hard and be consistent.

 

[Pakistan Space Agency]

The stock market under the PML-N Government had crossed the 50,000 points barrier while it's still at 39,000 after more than a year of PTI rule.

 

[AZ1]

The stock market under the PML-N Government had crossed the 50,000 points barrier while it's still at 39,000 after more than a year of PTI rule.

May be you know better than him

 

[POTTER]

The stock market under the PML-N Government had crossed the 50,000 points barrier while it's still at 39,000 after more than a year of PTI rule.

When PTI came it was at 42000 at when it will leave it will be more than 45000 Insha Allah.

 

[Pakistan Space Agency]

When PTI came it was at 42000 at when it will leave it will be more than 45000 Insha Allah.

PTI should aim higher.

https://www.pakistantoday.com.pk/2017/01/24/psx-crosses-50000-point-benchmark-for-the-first-time/

https://www.brecorder.com/2017/04/24/345125/psxs-benchmark-kse-100-index-crosses-50000-point-level/

https://www.dawn.com/news/1310861

 

[Dark-Destroyer]

The stock market under the PML-N Government had crossed the 50,000 points barrier while it's still at 39,000 after more than a year of PTI rule.

That means pmln are all stock brokers

 

[Kabotar]

Actually it crossed 53k and within six months it crashed to 37k during PMLN government. So if I were you I won't repeat that as an achievement.

The stock market under the PML-N Government had crossed the 50,000 points barrier while it's still at 39,000 after more than a year of PTI rule.

 

[ziaulislam]

The stock market under the PML-N Government had crossed the 50,000 points barrier while it's still at 39,000 after more than a year of PTI rule.

Tells us what went right and wrong..
Positive sentiment and work on power sector propelled the index...
But note printing and default like situation crashed it

 

[Yaseen1]

it will only beneficial if new companies list on stock exchange and raise capital through IPO or new shares are floated by existing companies against money from investors ,otherwise it is ordinary buying and selling which has no real benefit for industries other than few traders who earn money by buying and selling stocks with no real growth and input in economy