KARACHI: The booming Karachi stock market saw the KSE-100 index cross the coveted 30,000 points mark on Thursday — the highest ever in the bourse’s history.
Market gurus said that the index flight to the north was triggered by an increase in Pakistan’s weight in MSCI Frontier market index and upgrade of its economy this week to ‘stable’ from ‘negative’ by global rating agency Moody’s.
The KSE has produced return of 117pc in two years and six months, since the index first began its climb. Foreign funds with inflow of $826m during the period have been the engine that drove the rally.
Published in Dawn, July 18th, 2014
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