Pakistani stock exchange closes on record high

Pakistani stock exchange closed at a record high on Wednesday as the benchmark Karachi Stock Exchange (KSE) index of 100 shares closed at 30,593 points, up 217 points or 0.71 per cent.
The economic analysts credited the stock rise to falling inflation and commodity prices as well as an easing of political tensions in the country. A senior economic analyst, Maqsud Qadir told KUNA, "The investors' focus has shifted towards economic matters from the political affairs of the country resulting in rise of the stocks." The government of Pakistan cut the petroleum prices by an average of eight per cent last week in line with international fall in commodity that is the largest price relief in Pakistan. Earlier in July, the stocks touched the peak of 30,474 points but it fell in August due to political instability and protests against the government in federal capital Islamabad.