THE stock market boom, which began with the benchmark KSE-100 index level at 11,000 points two-and-a-half years ago, saw the index cross the all-time high of an incredible 30,000 points last Thursday.
After returning a loss to investors in 2011, the market turned the corner in 2012 with a spectacular rise of 49pc, turning out to be the best performing market, second only to Japan. The bull run carried through 2013, with the index surging by another 49pc. From January to-date this calendar year, the index has already climbed by 20pc.
In effect, the booming market has been divorced from the economy, political upheavals and law and order.
“Nothing has deterred the resilience of the market,” says a major broker. “Investors have bought shares even when there has been blood on the streets,” he said, referring to bomb blasts in the country’s financial capital, which have only recently scaled down.
