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Karachi Stock Exchange up by 376 points - Is this real or monkey business?

2008-08-20 03:44:07 (GMT) (Caymanmama.com - Pakistan News News)

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Karachi, Pakistan (CaymanMama.com) — The bulls have taken the Karachi Stock Exchange by storm after the much controversial and awaited impeachment of the Pakistani President. The KSE-100 index registered a rise of 376 points taking the index to 11, 096 points at press time.

The President’s resignation has brought an immediate change by improving the trading sentiments. The positive mood from the government officials and hope of betterment on the political front has also also added to the air of positivity. Though Musharraf in his speech open up the debate that before the February 18th election, the KSE-100 index was holding its position around 16,000 points, holding the policies of the present government and the political uncertainty created by the ruling coalition responsible for the present downfall of the stock exchange where the KSE-100 index loomed around 10,000 points.

The current jump in the Karachi Stock Exchange might be an artificial jolt which might be the way of registering a festivity. That means that the rise may be temporary.

The meeting of the stake holders on the ruling coalition is underway where greater issues like restoration of judiciary, nomination and selection of the President of the country, change of the governors of the provinces and economy are being discussed. Governments failure to address all these issues will bring bad news for the country political and economic environment.



buzreporter · Filed Under Pakistan News 

CaymanMama.com - Press Release Distribution Service

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