The stock market analysis reports of the month of November speak of a glorious month for the Karachi Stock market with the index gaining 2.7 percent in November. This meant that the current year to date returns reached to 23.5pc. This brings the Karachi stocks at the second position among the global markets. According to analysts, the market posted positive returns this month which is by far the best average in comparison to the past five years.
The index touched its all time high at 32,000 points. The market was spurred by the cut in discount rate by 50 bases during this month, stated analyst Abdul Azeem at Invest capital. In addition, the cement sales were boosted by the decreasing international coal prices to further act as a catalyst. The average market volume stood at 253 million shares this month.
About $36.3m was earned through foreign investments, while during November; the market attracted $432 million. The total FIPI of the Asian Pacific markets during November stood at $6.6bn. Taiwan’s market was at the top with an inflow of $3.3bn.