Stock market’s ‘strong rally’ shows increasing investor confidence on stabilisation measures: Hafeez Sheikh

• Finance adviser says KSE-100 index was up by 14.9 per cent in November, which is the highest one month return after May 2013.
• The index has increased by 36.6pc (10,500 points) since August 16: Hafeez.
• Bloomberg reports that Pakistan's stock market surged by 30 percent during the last three months and outperformed leading stock markets.

(Karachi) Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh has said that the ‘strong rally’ in the stock market shows increasing investor confidence on stabilisation measures taken by the government.

In a tweet on Sunday, the finance adviser said the KSE-100 index was up by 14.9 per cent in November, which was the highest one month return after May 2013.

https://twitter.com/a_hafeezshaikh/status/1201059993329512449

He added that the index has increased by 36.6pc (10,500 points) since August 16.

Pakistan Stock Exchange (PSX) continued to be among the top performing exchanges in the world, after Pakistan's stocks outshined world's leading stock markets during the last three months.

According to Bloomberg, Pakistan's stock market surged by 30 percent (almost 10,000 points) during the last three months and thus outperformed the leading stock markets. Ireland's stock market rose by 20pc, followed by Russia's RTS index with a 15pc increase. Furthermore, the Sweden OMX Stockholm 30 and Germany's DAX Index increased by 14pc, respectively in the previous three months.

The report added that Pakistan's KSE-100 Index has advanced to the highest level in seven months. The development comes as a result of measures taken by the government to stabilise the economy with a $6 billion loan from the International Monetary Fund (IMF) after a deficit blowout.