HT Exclusive Report
KARACHI: KMI 30 dropped steeply by 6 percent in the month of August over persistent foreign outflow along with global economic meltdown.
Local bourse is considered as one of the attractive stock market of Asia considering its lowest PE (Price to Earnings) multiple and strong valuation of blue chip stocks.
Worsening law and order situation coupled with heat erupted in domestic politics also dampened the confidence of local investors. However, targeted operations in suspected area of Karachi and suo- moto action taken by Supreme Court of Pakistan against violence in Karachi have brought sanity in domestic law and order situation somewhat.
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