MSCI decision causes KSE-100 to fall another 189 points

On Tuesday, concerns were raised over Pakistan’s reclassification by Morgan Stanley Capital International (MSCI) and the benchmark KSE-100 Index drove up due to higher coal prices to an over three-month low with volumes registering a minor rise at the Pakistan Stock Exchange (PSX)

A cautious wait-and-see approach is adopted by investors ahead of the MSCI decision to re-classify Pakistan from the Emerging Markets Index to Frontier Markets that is expected early Wednesday.

The KSE-100 index that settled at 46,729.96 is the lowest since May 27. It finished with a drop of 188.56 points or 0.40 per cent.

Accumulating 76.32 points, the benchmark KSE-100 recorded an intra-day high of 46,994.84 during the initial hour of trade. However, it found resistance at the 47,000 level yet again.

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