MSCI upgrades Pakistan to Emerging Markets Index

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KARACHI: The Pakistan Stock Exchange (PSX) was upgraded to the Morgan Stanley Capital International (MSCI) Emerging Markets status, on Tuesday.

The PSX experienced a bullish trend early morning today, with the KSE-100 index up 400 points to reach the 52,700 level.

The MSCI will review and announce the exact proportion of the Pakistani market and stock to be included and effective from June 1, 2017.

The announcement would define the future course of the market.

The PSX, on Monday, touched an all-time high of 52,500 points after adding 770 points to the benchmark 100-index – a run primarily driven ahead of the MSCI announcement, industry veterans said.

MSCI, in a review on June 14, 2016, promoted Pakistan from the Frontier Markets to Emerging Markets Index.

Initially, nine companies were included but two companies were removed in the November 14, 2016, review.

2017-05-16

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