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Pakistan equities buoyant ahead of index reclassification

Analysts say banking, construction stocks to benefit from inward investment

LAHORE -- The Stock Exchange of Pakistan emerged as Asia's best performing equity market and the fifth best in the world in 2016 by providing a total return of 45.7%. The market then peaked at 50,192.4 points on Jan. 26, falling back slightly in February and March, but analysts see more upside ahead of Pakistan's graduation to the MSCI Emerging Markets Index.

JS Global online trading desk members work the phones. (Photo by Sualiha Nazar)

The stellar performance of the benchmark KSE 100 Index in the last year has been largely attributed to index compiler MSCI's decision last June to move the country to its EM Index from its Frontier Markets Index. The index stood at 36,979.96 at the time of MSCI's announcement.

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