Pakistan Stock Exchange reached another milestone on Monday as the benchmark KSE-100 Index first surpassed the 51,000 mark for the first time in over six years and later touched 51,419.86 during intraday trading.
However, the market could not sustain the rally amid selling pressure as market closed with the KSE-100 settling at 51,070.82 after a net gain of 338.96, or 0.67 per cent against the previous closing of 50,731.86. Overall trading volume for the KSE-100 Index was over 187 million shares.
The latest gains translate into a 25.14pc increase in the KSE-100 Index since the start of the current calendar year.
At 11:54am, the benchmark index was recorded at 51,334.14 against the previous closing of 50,731.86. It means the market is up 602.28 points, or 1.19pc. It was in May 2017 that Pakistan qualified for the Morgan Stanley Capital International Emerging Markets Index, an upgrade from Frontier Market Index. The same month also saw the market reaching the all-time high of 53,124 points as the KSE-Index witnessed a huge surge during Nawaz Sharif’s third stint as prime minister.
