KSE-100 index breaches 71,000, closes at record high

Pakistan Stock Exchange’s benchmark KSE-100 index closed at a record high of 71,465 points, up 0.8 per cent, after breaching the key 71,000 level on Monday. The KSE-100 index gained 631.86, or 0.89 per cent, to stand at 71,541.76 points at 11:38am from the previous close of 70,909.90. The index closed at 71,433.46 points, up by 523.56 points or 0.74pc, from the previous close. The index has surged 74.3pc over the past year and is up 10.5pc year-to-date. Pakistan is aiming to agree on the outline for a new International Monetary Fund (IMF) loan on May, and “good March quarter dividends are helping share prices which despite rallying are trading at forward looking price-earning ratio of 4,” said Sohail Mohammed, CEO of Karachi based brokerage company, Topline Securities.