 "Pakistan stock market hits all-time high")
The Karachi Stock Exchange’s KSE-100 index hit a high on Monday as the markets cheered the first ever democratic change in government in the country’s history.
The KSE -100 was up 368.12 points or 1.85% and trading well above the 20,000 mark-at 20,284.39 at the time of writing.
This is its highest close since the index was introduced in November 1991 with base value of 1,000 points.
It is up 20% since the beginning of the calendar year, and has risen over 42% in a one-year period.
Former Prime Minister Nawaz Sharif is set for his third term in office as his Pakistan Muslim League (Nawaz) looks set to have a healthy lead over his opponents.
The KSE is one of Pakistan’s largest tax payer and in the fiscal year 2006- 2007 contributed over Rs. 4 billion towards the national exchequer, according to the exchange website.
Also, listed Companies contribute over 10% of total revenue collected by the Government of Pakistan.
KSE brokers on average pay more than 50% of their profit before tax as presumptive tax.
The KSE -100 was up 368.12 points or 1.85% and trading well above the 20,000 mark-at 20,284.39 at the time of writing.
This is its highest close since the index was introduced in November 1991 with base value of 1,000 points.
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The Index comprises of 100 companies selected on the basis of sector representation and highest market capitalization, which tracks over 85% of the total market capitalization of the companies listed on the Exchange.
It is up 20% since the beginning of the calendar year, and has risen over 42% in a one-year period.
Former Prime Minister Nawaz Sharif is set for his third term in office as his Pakistan Muslim League (Nawaz) looks set to have a healthy lead over his opponents.
The KSE is one of Pakistan’s largest tax payer and in the fiscal year 2006- 2007 contributed over Rs. 4 billion towards the national exchequer, according to the exchange website.
Also, listed Companies contribute over 10% of total revenue collected by the Government of Pakistan.
KSE brokers on average pay more than 50% of their profit before tax as presumptive tax.