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The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index gained over 1,000 points and crossed the 48,000 mark in intraday trading on Friday.
The development came after Morgan Stanley Capital International (MSCI) added 15 Pakistani-listed companies to its main Frontier Market index.
The 15 companies included names from the banking, oil, and gas exploration, fertilizer and tech sectors.
The companies are Bank Alfalah, Engro Fertilizers, Fauji Fertilizers Co, Habib Bank, Hub Power Co, Lucky Cement, Mari Petroleum, MCB Bank, Millat Tractors, Pakistan Oilfields, Pakistan Petroleum, Pakistan State Oil, Systems Ltd, TRG Pakistan, and United Bank, MSCI said.
Their addition to the MSCI Frontier Market Index will take place on Aug 31.
On Thursday, the KSE-100 index gained 903.76 points to close at 48,333.58 points.