South Asia Investor Review

The KSE-100 closed at an all-time high of 14829.58, continuing the bullish trend after February 18 elections. The buying was spurred by hopes raised by the announcement of PPP and PML(N) agreeing on forming a coalition government. According to Pakistan's Financial Daily "Business Recorder", the overall market capitalization reached an all time high of Rs 4.606 trillion with a net increase of Rs 41 billion. Healthy trading activity was seen at the share market as the market volume significantly increased to 397.695 million shares as compared to 359.151 million shares traded a day earlier. The futures market turnover however slightly declined to 51.615 million shares against 56.592 million shares previously. The rally witnessed strong institutional buying coupled with foreign buying. The strong earnings announcements brought buyers in the share market. The investors' expectations for better political situation in days ahead encouraged them to take fresh positions. There...

The KSE-100 rose 443 points to close at 14,797, an increase of about 3% after peaceful polls seen as largely free, fair and transparent. People of Pakistan have spoken and handed a resounding defeat to the ruling coalition. The results of Pakistan Elections 2008 indicate that President Pervez Musharraf has delivered on his promise of free, fair and peaceful polls. Sen Tariq Azim and Mr. Shujaat Chaudhry of PML(Q) have both graciously accepted the outcome and indicated their readiness to sit in the Opposition. Musharraf has indicated he is ready to work with the winners. These are history making events for Pakistan. Another important development is the lackluster performance of religious parties in sharp contrast to the 2002 election held in the aftermath of the US bombing in Afghanistan. There is clearly "Mullah Fatigue" in the NWFP which was until recently ruled by the MMA, the religious party alliance. This vote should set to rest any fears of pro-Taleban, Pro- Al-Qaeda re...