The KSE-100 Index – a benchmark for market performance – crossed the 50,000-point milestone for the first time after the index increased 164 points today during intra-day trading.
The index has been on a growth trajectory ever since MSCI announced its decision to reclassify Pakistan as an emerging market in mid-June last year.
The bullish run also made Pakistan the top-performing market in Asia and the fifth overall in 2016 after the benchmark-100 share index registered an increase of over 45% during the calendar year.
In less than a month during 2017, the index has gone up 4.4% as relentless net selling by foreigners is more than offset by domestic buying on the back of increased liquidity.
Recently, a 40% stake in the PSX was acquired by a Chinese consortium, a development stakeholders believe will bring more investment and technology upgrade to Pakistan’s stock market.