Equity market present spectacular performance

ISLAMABAD—Standard and Poor’s Global Stock Market Review Report “World by Numbers” apprised spectacular performance of Pakistan’s Equity market as compared to markets not just in Asia but worldwide. This was stated by Major (Retd) Iqbal Ahmad, Executive Director General, Investment Division and Board of Investment (ID&BOI); while commenting on Standard and Poor’s Global Stock Market Review Report “World by Numbers” here Thursday. According to the report, world markets lost $ 5.2 trillion during the month of January as the New Year began with one of its worst starts, and continued to get worse. High volatility, quick turnarounds in both the markets and sentiment were observed and lower prices prevailed throughout the month.
The report said that the January declines wiped out all prior gains, leaving all the develop markets in the red for the trailing 3-month period. Globally 50 of the 52 markets surveyed were down, with 25 of them posting double-digit losses. Ahmad said,” Despite the political turmoil in the country due to the tragic demise of former Prime Minister, Ms. Benazir Bhutto on December 27,2007; Pakistan was Asia’s best performing market during January 2008 and also ranked 5th best performing in the world.—Online