KARACHI: Pakistani stocks hit a record high Wednesday after US index firm MSCI upgraded the country to “emerging market” status on its influential global equities index for the first time since 2008.
The benchmark Pakistan Stock Exchange gained 1,003 points, or 2.7 percent, to touch a high of 38,520 points by the close of trade.
“After a long time, Pakistan has been classified as an emerging market and that boosted investor sentiment,” Rehan Atiq, the chief operating officer of brokerage house Shajar Capital, said.
The benchmark Pakistan Stock Exchange gained 1,003 points, or 2.7 percent, to touch a high of 38,520 points by the close of trade.
“After a long time, Pakistan has been classified as an emerging market and that boosted investor sentiment,” Rehan Atiq, the chief operating officer of brokerage house Shajar Capital, said.
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