6,617
March 24, 2009
The KSE-100 index opened up with a gap on the news that MSCI will reclassify the MSCI Pakistan Index as MSCI Frontier Markets Index (see below). Making a high of 6,622, the market closed 4.36% higher.
Dividends : Pakistan Petroleum Ltd : 50% Cash
News : MSCI Inc (NYSE: MXB), a leading provider of investment decision support tools worldwide, including indices and portfolio risk and performance analytics, announced today, following a consultation with the investment community, the reclassification of the MSCI Pakistan Index as MSCI Frontier Markets Index. Some participants to the consultation have positively highlighted the return to normal trading conditions on the Karachi Stock Exchange and the resulting increased liquidity. However, a majority of market participants stressed
the need for the Pakistani equity market to function without any trading disruptions for some time as a condition to any potential consideration of the MSCI Pakistan Index for re-inclusion in the MSCI Emerging Markets Index. In addition, the MSCI Pakistan Index no longer meets the size requirements set for the MSCI Emerging Markets
Index. Consequently, the MSCI Pakistan Index will be included in the MSCI Frontier Markets Index as of the close of May 29, 2009 to coincide with the May 2009 Semi-Annual Index Review… MSCI Barra
Market Low : 6,340.36 High : 6,622.74
Market Close : 6,617 – 276.64 points up
