Pakistan Stock Market recorded appreciable gains and reached new record high of 52500 as buying local financial institutions and mutual funds emerged in the blue chips and selected items.
PSX 100 index since the word go landed in the green territory and index during the session registered an upsurge of more than 700 points, reaching to record high of 52531 poiints.
Index propelled on the back of the positive development that MSCI would soon officially include Pakistan Stock Market into their index after pause of almost nine years. In 2008 when the stock market suffered crisis, MSCI pulled out the local domestic market from the index.
The announcement would arrive at Pakistani standard time around 2 am.
Another positive development which cemented the sentiment of investors were the recent trip of Pakistan Prime Minister Nawaz Sharif to China, where a summit under the theme “one belt one road” has been conducted which assured hefty investment in Pakistan. The growth prospects have been higher and all the international financial institutions pinned hope that the country would prosper under CPEC.
