Karachi November 12 2023: On Friday trading session at the Pakistan Stock Exchange, foreign investors purchased stocks worth $4.34 million. This surge in foreign investment resulted in a significant increase of 1,129 points in the stock index, reaching an all-time high of 55,391.
Foreign corporations acquired $4.34 million worth of shares, marking the highest level of foreign investment in the past 259 trading sessions, according to data released by National Clearing Company of Pakistan Limited. The previous peak was recorded on October 14, 2022, when foreigners purchased $5.5 million worth of shares.
Foreign investors predominantly focused their investments on various sectors, except for Oil Exploration and Production and Textiles. They allocated $1.6 million to the Power sector, $1.06 million to Banks, $0.88 million to Cements, and $0.45 million to the Technology sector.
The recent bull run in the KSE-100 index will lead to an increase in Pakistan's equities' weight in the upcoming MSCI review. Several factors contributed to this upswing, including expectations of declining interest rates, positive discussions with the IMF during the ongoing second review, and the upcoming elections scheduled for February next year.
MSCI Inc., a prominent provider of decision support tools and services for the global investment community, is set to announce the results of the November 2023 Index Review for various MSCI Equity Indexes. These indexes include the MSCI Global Standard, MSCI Global Small Cap, MSCI Micro Cap, MSCI Global Value, MSCI Global Growth, MSCI Frontier Markets, MSCI Frontier Markets Small Cap, MSCI Global Islamic, MSCI Global Islamic Small Cap, MSCI Pan-Euro, MSCI Euro, MSCI US Equity, MSCI US REIT, MSCI China A Onshore, and MSCI China All Shares Indexes. All changes will take effect as of the close of November 30, 2023.
MSCI will publish the list of additions to and deletions from these indexes for the November 2023 Index Review on its website, www.msci.com, shortly after 11:00 p.m. Central European Time (CET) on November 14, 2023.