Abb Takk News

Bullish Trend in PSX Reflects Investor confidence: Hafeez Sheikh

ISLAMABAD: Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh on Sunday said the “strong rally” in the stock market shows “increasing investor confidence on stabilisation measures taken by the government”.

In a tweet, the premier’s adviser said the KSE-100 index was up by 14.9 per cent in November, which he said was the highest one month return after May 2013, adding that the index has increased by 36.6pc (10,500 points) since August 16.

The stock market rallied for the fifth week in a row in the outgoing week as bulls displayed no signs of fatigue.

The KSE-100 index propelled by 1,362 points (3.59 per cent) and stormed past the 39,000-level after eight months to close at 39,288.

During November, the index had closed positively for a third straight month and gained 15pc, the highest monthly gain since May 2013.