KARACHI: The bullish trend continued at the Pakistan Stock Exchange as benchmark 100-index added 473 points to achieve another milestone of 39,000 and reached 39032 points level till midday on Wednesday.
On Wednesday, the MSCI’s announcement about the country’s upgrade from the frontier to emerging markets status helped the benchmark-100 index of the Pakistan Stock Exchange (PSX) surge 2.78% or 1,042.12 points to finish at its all-time high of 38,560.
MSCI is a leading provider of international investment decision support tools. Its decision to upgrade the country from the frontier markets status is expected to generate inflow of millions of dollars from passive international funds that track MSCI indices. Shares of 348 companies were traded. At the end of the day, 204 stocks closed higher, 120 declined while 24 remained unchanged. The value of shares traded during the day was Rs19 billion.
