The Pakistan Stock Exchange jumped up by 1,000 points to around 48,900 in the early trading hours on Friday.
The market invited the outstanding renewed buying from investors after the global stock market index provider Morgan Stanley Capital International (MSCI) announced to add record 15 Pakistani listed companies into its MSCI Frontier Market Index.
The development is expected to create foreign investors’ interest in the domestic stock market.
Later on in the day, PSX benchmark KSE 100 Index dropped to 48,410 points at around 10:50 am, reducing the substantial early morning gains to around 600 points on profit booking.
Topline Securities CEO Muhammad Sohail said in a comment “Pakistan market rallied 1,000 points in early morning trade after MSCI added record Pakistan listed companies in its indices.”
