KARACHI: KSE-100 Index crossed the 50,000-point threshold early Tuesday morning for the first time, just 30 minutes into trading. The index has been incessantly thrashing its own record-highs every few days since late last year.
The benchmark index touched 50,049 points at 9:34 AM just after markets opened, registering yet another record-high after closing up 511 points at 49,876 on Monday.
KSE-100 Index is currently up 0.24% (173 points) at 49,897 points, with more than 94 million shares (approximately Rs. 8.63 billion) already traded.
Pakistani stock market has been on a positive trajectory since the past few months, especially following MSCI’s announcement that its Emerging Markets status will be reinstated in May.
Enhanced liquidity has helped the market gain over 4% year-to-date (YTD). PSX has been one of Asia’s best-performing markets since several years, having risen 14,990 points in 2016, and generating above-average return of 46 percent (45 percent in dollar terms) during the same time period.