Strong Rally In Stock Market Reflects Investor Confidence: Hafeez

Advisor to Prime Minister on Finance Hafeez Shaikh has said that strong rally in the stock market shows increasing investor confidence on economic stabilization measures taken by the govt.

In a tweet, he 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 36.6 percent 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 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 15 percent, the highest monthly gain since May 2013.