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Pakistan stocks rise by 617 points by week’s end

Pakistan Stock Exchange (PSX) saw an increase of 617 points in the business week, Dunya News reported Saturday.

100-index closed at 31,294 points by the end of trading in the stock exchange. On the whole, at least 321 companies conducted business.

Share value of around 206 companies increased while that of 19 decreased. Share value of at least 18 companies remained unchanged. Experts have termed crude oil price’s rise a reason behind increase in share value of companies associated with energy sector.

Asian markets’ progress also benefitted Pakistan Stock Exchange, according to analysts.

On the other hand, Pakistan authorities are once again making efforts to merge PSX with Morgan Stanley Capital International (MSCI). For the purpose, a delegation is scheduled for a dialogue with MSCI representatives in London in the coming week.

The Pakistani delegation will assure MSCI authorities that the exchange will never be closed from now onwards. The stockexchange was shut for the months in 2008 owing to continued downturn.

The act was denounced by the international authority and expelled Pakistan’s exchange.