with a hefty trade of 62 million shares to their credit, while Fauji Cement and Hum TV network 14 million shares to their credit respectively.
It is a good sign that optimism prevailing on the street on prospects of Pakistan’s reclassification in the MSCI EM index decision to be announced on ’June 14, 2016.
While Pakistan’s case for upgrade has garnered attention from international media, initial excitement among local investors has given way to questions on possibility to of extension in consultation process and likely impact on the market.
It is believed that Pakistan stands a good chance for upgrade in EM market status. Having said that most of market performance is not directly a result of market exuberance on re-classification theme.