Pakistan Stock Exchange nears 50,000 points

KARAHI: The bullish trend continued at the Pakistan Stock Exchange on Monday with the benchmark KSE-100 index closing near 50,000 points.

At the end of the trading day, the KSE-100 index closed at 49,876 following an increase of 511 points.

Monday's market capitalisation in the sotck market rose by Rs 83 billion to 9,9988 billion level. Analyst Muhammad Sohail said that after imposing anti-damping duty on steel cold roll, we are looking at a boost in demand of steel shares trading. "The Chinese consortium has increased the confidence of local and foreign investors in Pakistan's stock market," Sohail said, adding that more progress was expected in the coming days.  

In a recently published article, Forbes said Pakistan’s equity market had outperformed India and China.  According to Forbes, one of the main factors for the success of Pakistan’s market was reforms which have been getting a vote of confidence internationally.