PSX: Pakistan's KSE-100 Index tops global market

PSX: Pakistan's KSE-100 Index tops global market
Karachi: Pakistan Stock Exchange (PSX) continued to be among the top performing exchanges in the world, as Pakistan's KSE-100 Index tops the global stock markets.

According to Bloomberg's report, the Pakistani benchmark stock market 100-index has became the top best performer in the world.

US based magazine Bloomberg, reports that Pakistan stocks have outperformed the world's leading stock markets during last three months due to government's steps to stabilize economy.

According to a latest report of Bloomberg, during previous three months, Pakistan's stock market surged by 36 percent.

The report said that Pakistan's KSE-100 Index has advanced to the highest level in seven months. The development comes as a result of measures taken by the government to stabilise the economy.

On Monday, After three consecutive months of the bullish trend in the Pakistan Stock Exchange (PSX), the benchmark 100-index has surpassed the 40000-barrier.

After adding 836 points during intra-day trading, the 100-index closed at 40,124 mark, highest in ten months.

Analysts and market experts expect the market to likely surge another 20 per cent by March - provided Pakistan exits the grey list of the Financial Action Task Force (FATF) in February.

They said bulls have returned, tightening their grip in the past three months despite a challenging political environment in the country.

Dr Abdul Hafeez Sheikh, Adviser to the Prime Minister on Finance, said the "strong market rally" shows increasing investor confidence thanks to stabilisation measures taken by the government.