Last year the Karachi Stock exchange had the highest growth rate in the world. It’s still growing:
bq. KARACHI: The Karachi stock market saw a bullish trading week on the back of positive political developments, an improved fertilizer sector outlook as a result of heavy rains, expectations of cash dividends during the upcoming earning season and the increase in the cement quota, analysts said.
Not even the Quetta carnage deterred trading, said brokers.
….the market on Wednesday once again made a new record breaching the 3,550 points level.
>> “Daily Times Pakistan”:http://www.dailytimes.com.pk/default.asp?page=story_13-7-2003_pg5_12
Update: “KSE breaks 3700-point barrier”:http://www.jang.com.pk/thenews/jul2003-daily/18-07-2003/business/b2.htm
Update: August 2 2003:
bq.. KARACHI: The KSE-100 index hurtled past the unchartered 4,000 points level Friday, leaving brokers and investors struggling to catch their breath. After all, the ride to this record has been relentless.
…But clearly, the bulls aren?t letting up. Indeed, it?s a tough call to find a skeptic at the KSE. Broker and market mover Aqeel Karim Dhedhi, for example, has his sights and his money on 5,000 points. Similarly, a research report released by brokerage house Eastern Capital screams a target of 5,684 points. Happily, some big names like broker Arif Habib are taking a refreshingly more sedate view saying that ?if the market maintains the 4,000 level, that will be quite some achievement.?
>> “Daily Times: News Analysis: Index crosses 4,000 points ? Has the KSE gone overboard? “:http://www.dailytimes.com.pk/default.asp?page=story_2-8-2003_pg1_10