Another milestone for stock market

KARACHI: The Pakistan Stock Exchange (PSX) touched another historic high during the trading day yesterday (Monday), when it was seen hovering at 94,020 points. The hike was primarily fueled by the foreign investors and local institutional funds that continued to pour in from last week.

Some of these gains were lost by the day end, but the benchmark KSE-100 index still managed to close with 356 points growth, at 93,648.32 points. Trading volumes also showed an uptick, with the growth spread across the market – showing an overall improvement in the investor sentiment.

The MSCI’s reclassification has improved foreign interest in the Pakistan market and that is beginning to manifest through inflow of investment. The gains are also compounded by the overall improvement in macroeconomic indicators, including central bank’s policy rate reduction, and rising remittances.

Also read: PSX rally continues as index crosses 94,000 points mark