Karachi Stock Exchange’s (KSE) benchmark 100-share index gained 2.7 per cent (821 points) last month, taking the current year-to-date returns to 23.5pc, the second best performance in Asia.
With the end of the month, nearly all major brokerage houses have come up with reports on the bourse’s performance in November.
“This marks the eighth month in CY2014 to-date where the market has posted positive returns, which is at par against past five-year average,” said analysts at AKD Securities.
“During the period, the index touched its all-time high of 32,000 points,” reminded analyst Abdul Azeem at Invest Capital. Analysts said the cut in discount rate by 50 basis point spurred rally at the market during the month. Moreover, declining international coal prices coupled with better than expected cement sales also supported the surge.
The average market volume stood at 253 million shares during the month, up by 4pc month-on-month.
