Sunday, December 11, 2016
Pakistan stockmarket makes new all time record high
The benchmark index closed up 1.44% at 45,387 points today. 195,261,880 shares were traded in the market hours.
In the morning today, JS Global CCO Khurram Schehzad commented on the news. He stated that the index has crossed “45,000 mark for the first time in history. [It has] yielded a year-to-date (YTD) return of a massive 37% (28% in USD). The return has been phenomenal despite massive foreign selling observed during the year so far (YTD foreign outflows USD 219mn).”
I have owned the Pakistan ETF since last year. Not sure how much further this market can advance but that is why I use the stoploss tool Tradestops. I will tighten up my stop criteria and let the market tell me when to sell.