Pakistani stocks buoyant

Pakistani stocks buoyant
Published: 22 March 2004

The cheer in Pakistan in not restricted to its cricket stadiums. The Karachi bourse is on a one-year winning streak and powering ahead. The KSE-100 has been rising while the world¹s major indices have dropped back in recent weeks. The major drivers in the run-up to 5,000 are 53 stocks in the KSE-100 basket that appreciated over 100 per cent each in the past year. The top gainers are industrials like cement and oil.  Between March 18, 2003, and March 18, 2004, index heavyweight Maple Leaf Cement appreciated 544 per cent, Pakistan Industrial Credit and Investment Corporation (PICIC) went up 419.44 per cent and Thal Jute rose 309.23 per cent.