Saturday, Apr 29, 2017

PSX benchmark index breaches 50,000 barrier

PSX benchmark index breaches 50,000 barrier

KARACHI (NNI): Pakistan Stock Exchange (PSX)-100 index on Tuesday continued its bullish momentum and surpassed 50,000-point level for first time in the history after induction of 164 points during intra-day trading session.

This increasing trend of investment in stock exchange is being deemed as good omen for national economy by business. It may be recalled that Asia’s first and world’s fifth best equity market crossed 48,000-point and 49, 000-point level on Jan 2 and Jan 4 respectively as a result of which the index has gone up by 4.4% in less than a month.

PSX trading volume has soared by 32pc ever since MSCI reclassified Pakistan as an emerging market in June-2015. In 2016 only, benchmark-100 share index witnessed an increase of over 45% in its trading volume. Analysts view stable security situation, enhanced economic activity under umbrella of China-Pakistan Economic Corridor (CPEC) and Modern Index Strategy Indexes’ (MSCI’s) reclassification of Pakistan as main factors behind PSX’s continuous upward trajectory.

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