Karachi Stock Exchange emerges as the 6th performer in the year 2007 – Pakistan News Desk Reports
2008-01-03 05:01:25 (GMT) (Caymanmama.com - Featured Pakistan News News)FOR IMMEDIATE RELEASE - Karachi Stock Market Report by: Cayman Mama Business Reporter
Karachi Stock Exchange performs well throughout the year 2007 amidst political uncertainties in Pakistan. The KSE 100 index gained 40% to bag the 6th position in the emerging markets.
Karachi, Pakistan: Karachi Stock Exchange - Pakistan comes up as the 6th best performer. The KSE 100 index gained 4035.33 points i.e. 40% raise in the year 2007. The KSE 100 index stood at 10, 040. 50 points at the beginning of the year. KSE index at the end of the year closed at 14, 075.83 marking as significant jump bagging the 6th spot.
In spite of the fact that the year 2007 was full of political uncertainties for Pakistan but the Stock Exchange continued its upward trend amidst all such negative sentiments. The KSE Index got two major blows one on November 5, 2007 when the KSE 100 index fell by 635.80 points when emergency was declared in the country and the second worst decline came when the markets opened on December 31, 2007 after Late Ms. Bhutto’s assassination when the Stock market lost 696.25 points.
As a whole, with the year 2007 under consideration, the stock exchange saw market capitalization of Rs. 4,329 trillion at the years end. In comparison, the figures of 2006, market capitalization figures stood at Rs. 2,771 trillion.
Last year also witnessed influx of foreign funds due to the improved market sentiments.
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