September 18, 2012

Stocks end at four year high, rupee firms

KARACHI: Pakistani stocks ended higher on Tuesday with increased investor activity across all sectors in the market, including the oil sector.

This was the first time in five years that the Karachi Stock Exchange closed above a 15,500 index.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.77 per cent, or 118.51 points, higher at 15,517.19, on total volume of 128.67 million shares.
“It closed higher because there was broad based buying across all sectors with the oil sector leading the carts,” said Suleman Maniya at Elixir Securities Limited. The oil sector dominates around 50% of the index.
In the currency market, the Pakistani rupee ended steady at 94.53/94.58 to the dollar.
Overnight rates in the money market ended at 10.40 per cent compared to Monday’s close 7.60 per cent.



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