KSE-100 Index still on a breather, stays behind 50,000-point mark

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KSE-100 Index still on a breather, stays behind 50,000-point mark

Pakistan's KSE-100 Index is continuing on its neutral path on Thursday, having declined 179 points (0.37%) to trade at 48,802 points during the opening hours.

The benchmark index recorded high and low of 49,019 and 48,474 points, respectively, as of 11:12 AM. Almost 34.4 million shares have swapped hands by now, in transactions worth Rs. 2.96 billion.

 


source: tradingeconomics.com

 

Year-to-date (YTD), the 100 Index has only surpassed the 50k level once in late January 2017 but came close to breaking the barrier again last week. Although on a growth trajectory, recovering prior losses and showing significant improvement year-over-year (YoY) – averaging at 32,500 points in January 2016 – it now looks as if it is drifting to a pause.

The Panama Case hearings have kept the benchmark index suppressed, while the MSCI’s Emerging Markets status, which is officially set to be reinstated for Pakistan this May, now seems to have been adjusted in the market.

Over the past 12 months, the stock market has gained more than 16,000 points.