‘Strong rally’ in stock market shows ‘increasing investor confidence’ in govt measures: Hafeez
ISLAMABAD: Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh said on Sunday the “strong rally” in the stock market shows “increasing investor confidence” in the government’s stabilisation measures.
Taking to Twitter, he said the KSE-100 index was up by 14.9 per cent in November, the “highest one month return after May 2013.”
He added the index increased by 36.6 per cent (10,500 points) since August 16.
The KSE-100 index is up by 14.9% in November 2019, highest one month return after May 2013. Since 16 August 2019, the index increased by 36.6% (10,500 points). The strong rally in Stock Market shows increasing investor confidence on stabilisation measures taken by the Govt.
— Dr. Abdul Hafeez Shaikh (@a_hafeezshaikh) December 1, 2019
The stock market staged a rally for the fifth week in a row in the outgoing week as the KSE- index cross the 39,000-level after eight months to close at 39,288. He said gained 1,362 points (3.59 per cent).