Pakistani stocks close at all-time high; rupee weakens; o/n rates fall

Discussion in 'Pakistan' started by farhan_9909, Oct 4, 2012.

  1. farhan_9909

    farhan_9909 Tihar Jail Banned

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    KARACHI: Pakistani stocks closed higher on Wednesday as investors remained optimistic that more money will flow into the stock market after a monetary policy announcement scheduled for Friday, traders said.

    The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.41 per cent, or 63.92 points, higher at 15,712.21 – a four-year high – on total volume of 107.64 million shares.

    “It was a historic day at Karachi bourse today. After a gap of more than four and a half years the benchmark KSE index closed at an all time high level of 15712.21,” said Samar Iqbal at Topline Securities.

    “Investors believe that further decline in the interest rate in the upcoming monetary policy will mean flows of money to the stock market.”

    The central bank is expected to announce a monetary policy decision on October 5.

    Pakistan’s consumer price index (CPI) rose 8.79 per cent in September from a year earlier, the Pakistan Bureau of Statistics said on Monday.

    The year-on-year rate in August was 9.1 per cent. On a month-on-month basis, the CPI increased by 0.79 per cent from August, according to the bureau.

    In the currency market, the Pakistani rupee ended weaker at 95.16/95.21 to the dollar compared to Monday’s close of 94.90/94.95.

    Overnight rates in the money market ended at 7.40 per cent compared to Tuesday’s 7.50 per cent.


    Pakistani stocks close at all-time high; rupee weakens; o/n rates fall | DAWN.COM
     
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  3. farhan_9909

    farhan_9909 Tihar Jail Banned

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    we need Atleast 5% growth next year

    considering the current economic scenery this is very much Possible.

    And under imran khan very much Possible
     
  4. pankaj nema

    pankaj nema Senior Member Senior Member

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    sob likes this.
  5. Defcon 1

    Defcon 1 Senior Member Senior Member

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    Pakistan's inflation is lower than that of India's. Our economists should try to study how their government is maintaining such low rates of inflation. Farhaan can you post the key interest rates such as reverse and reverse repo set by central bank of pakistan?
     
  6. farhan_9909

    farhan_9909 Tihar Jail Banned

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    well economy is not much good at all

    but is getting better and alot better compare to the past few years

    such as 2011 growth 2.4%

    this year growth 3.7%

    next year planned 4.7%

    imf loan getting paid.1.5billions already paid

    so Indeed the situation is much better than in the past

    just imagine imran khan collecting tax from the rich
    half of our problem will solve with just the tax
     
  7. sob

    sob Moderator Moderator

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    Farhan, you seem to be placing too much expectations on Imran Khan. He will never be able to measure upto to those expectations, not even 10%.

    With an entrenched bureaucracy and the intwining of the Army with the civilian affairs, he will not be able to do much.

    Also just by taxing the rich, the problems are not going to disappear. Pakistan needs stability for any meaningful way forwards. Last month's tamasha in Islamabad is not helping the country.
     
  8. farhan_9909

    farhan_9909 Tihar Jail Banned

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    if he's Atleast as good as MUSHARAF
    than this is a blessing moment for Pakistan

    anyway Asad umar is suppose to be the the finance minister
    the man behind the engro success

    for stability ending war on terror is the first step which is his first agenda

    anyway he's marching to wana and taliban said we will provide him protection against the DRONES attack
     
  9. sob

    sob Moderator Moderator

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    Please remember that President Musharraf, like our MMS enjoyed a boom period in global economy. The Europeans, Japanese and the US had pumped huge amount of money to jump start their economy. The whole world was awash with liquidity and a good amount found it's way to countries like India and Pakistan.

    So do not compare that period, with the current period. Try to compare with the 80s when Pakistani economy growing at a fairly good clip.

    Anyway nice one Taliban to provide protection against drone attacks- makes me wonder is he really good for Pakistan.
     

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