Shares at the Pakistan Stock Exchange continued to trade in the green on Friday as the index climbed more than 400 points in intraday trade. The KSE-100 benchmark index climbed 446.50, or 0.57 per cent, to stand at 78,796.16 points from the previous close of 78,349.66 at 11:44am. Mohammed Sohail, the chief executive of Topline Securities, said that the market was rising due to expectations of Morgan Stanley Capital International (MSCI) — a provider of global indices for passive investments —“rebalancing inflows”. Additionally, he said that the Consumer Price Index (CPI) data — which measures household inflation and includes statistics about price change for categories of household expenditure — will be released on Monday with the “market expecting August CPI near 10pc”. Previously, Pakistan’s CPI in July rose 11.1 per cent Year-on-Year (YoY). On Thursday, the index had rallied after a period of uncertainty due to Moody’s upgrading Pakistan’s rating to Caa2 and its outlook to “positive”.

Credit: Independent News Pakistan