Karachi Stock Exchange (KSE) is progressing by leaps and bounds. KSE – 100 index has crossed two psychological levels and reached at 10,416.52 points by the increment of 278.89 points or 2.75 per cent. While KSE – 30 index had reached up to 10,680.98 points by the increment of 238.06 points or 2.28 per cent. Remember it is the highest level achieved since last 19 months.
Following news have played a vital role in progress of Karachi Stock Exchange (KSE):
- Foreign Portfolio Investors have invested a huge volume (worth of $36 million) especially in Oil and Gas and chemical Sector (e.g. OGDC, POL, PPL, ENGRO etc)
- Historic 18th amendment is ready to be presented before the National Assembly
- Government has withdrawn the decision of increasing power tariffs
- Successful visit of Turkish President to Pakistan
- International Oil prices have crossed $85 per barrel
Following negative news also circulated in market, which makes local investors very cautious and careful:
- Political turmoil against judiciary regarding NRO (National Reconciliation Ordinance) and other issues
- Uncertainty in implementation of CGT (Capital Gain Tax)
- Government has increased Oil prices
- IMF tranche for Pakistan has been delayed
- Lack of electricity, water and gas are adversely and continuously affecting country’s economy and various industries e.g. Textile, Agriculture etc.
OGDC, POL, PPL, ENGRO, JS Companies, DGKC were on top last week.
