Karachi Stock Exchange hits all time high at 31,332 points

The Karachi Stock Exchange hit an all time high of 31,332 points today signalling growing confidence of foreign and local investors in the strong performance of the Pakistan's economy.
In an all time high, the KSE 100-share index gained 402.25 points to hit 31,332 points.
Financial analysts said that the KSE index moving past the 31,000 points mark was a very positive sign for the economy.
Earlier on November 5, the benchmark KSE index of 100 shares closed at 30,593 points, while throughout last week the KSE index has shown gains due to increased trading of shares.
The previous peak of 30,474 points had come in July, but the exchange plunged in August after the protests and sit-ins by opposition leaders Imran Khan and cleric Allama Tahirul Qadri in Islamabad.

"The surge today shows that the recent steps taken by the government for economic gains, plus the approval by the IMF last week in Dubai to release the last tranche of loans, have boosted confidence of the investors," market analyst, Intikhab said.

The International Monetary Fund (IMF) has agreed to release the additional USD 1.1 billion aid to Pakistan after its December review, saying it was satisfied with the strong fiscal performance of the country during the last financial year and its improving economic indicators.
"Economic indicators (of Pakistan) are improving, with growth expected to reach 4.3 per cent in fiscal year (FY) 2014/2015, inflation on a downward trajectory, and credit to the private sector expanding at a robust pace," the IMF had said in a statement last week.

Ratings agency Moody's had also upgraded the country's outlook to 'stable' from 'negative' in July, citing its improving external liquidity position and commitment to reforms.