PSX index advances by 90 points

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Staff Reporter

Karachi

Bulls maintained their control over the Pakistan Stock Exchange (PSX) on Wednesday as the benchmark index advanced 90 points on the back of improved sentiment.
The KSE-100 index got off to a positive start, however, it kept oscillating between red and green territories throughout the session and finally ended the day in the green. It marked the third successive session in the positive zone despite growing number of coronavirus cases in the country. Expectations of policy rate cut in the monetary policy announcement on May 15, coupled with Morgan Stanley Capital International’s (MSCI) decision to keep Pakistan’s weight unchanged in the Emerging Markets Index and blue-chip stocks Oil and Gas Development Company (OGDC), MCB Bank and Habib Bank Limited (HBL) in the Standard Index, helped propel the index forward.