Inside Financial Markets

Pakistan stocks close higher, rupee steady, o/n flat

pak-rupeesKARACHI, – Pakistan’s stocks rose over 1 percent to hit another record high on Friday closing above 21,800 points driven by gains in large cap stocks such as Pakistan State Oil Co Ltd and Muslim Commercial Bank that increased the index to new high. dealer said

Bank of Punjab BOPU.KA was one of top gainers, closing up 7.25 percent at 14.80 rupees while Pakistan State Oil Co Ltd PSO.KA closed up 1.80 percent at 294.80 rupees.

The Karachi Stock Exchange’s .KSE benchmark 100-share index closed 1.08 percent, or 232.39 points, higher at 21,823.05.

The rupee PKR= ended little changed at 98.46/98.51 against the dollar compared to Thursday’s close of 98.48/98.53.

Overnight rates in the money market were steady at 9.50 percent.

Ali Nawaz

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)