PSX jumps over 1,000 points after MSCI adds 15 more Pakistani companies

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The Pakistan Stock Exchange (PSX) jumped 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 adding 15 Pakistani-listed companies to its MSCI Frontier Market Index.
The development is expected to create foreign investors’ interest in the domestic stock market.
Later 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 about 600 points on profit booking.