KARACHI: Having risen significantly after the Supreme Court’s ruling on the Panama Leaks case, Pakistan’s stock market is once again in greener pastures. The KSE-100 Index was up 1.38 percent (or 668 points) to trade at 49,273 points, as of 12:54 PM local time on Thursday.
More than 64.6 million shares have swapped hands by now in transactions valued at approximately Rs. 6.23 billion.
Pakistan is all set to regain the MSCI’s Emerging Markets status as the market indexes and services provider will be reviewing the country’s position on May 15, 2017.
In this regard, Invest and finance securities CEO Muzammil Aslam commented on how the upcoming development is fueling the investors’ positive sentiment. “Once approved, it will work from June 1. It will subsequently open new investment opportunities for foreigners in the Pakistani market,†he stated.
Aslam added that this is the main factor behind the robust trading today.
