Karachi stocks hit an all-time high today with an increase of 402.25 points reported to take the 100-share index at 31,332 points.
The Karachi Stock Exchange’s (KSE) index moving above 31,000 points is a positive sign towards country’s economic revival.
The previous peak of 30,474 points came in July, but the exchange plunged in August as opposition groups led by cricketer-turned-politician Imran Khan and firebrand cleric Tahirul Qadri began rallies and staged a sit-in outside parliament to try to topple the government of Prime Minister Nawaz Sharif.
Pakistan’s long-moribund economy has been now showing some glimmers of revival under the Pakistan Muslim League – Nawaz (PML-N) led government.
Ratings agency Moody’s had also upgraded the country’s outlook to ‘stable’ from ‘negative’ in July, citing its improving external liquidity position and commitment to reforms.
