Inside Financial Markets

Pakistan stocks rise over 200 points, rupee weakens

karachi-stocksPakistani stocks rise over 200 points, rupee weakens

KARACHI: Pakistan’s stock exchange closed higher on Friday, with the benchmark 100-share index of the Karachi Stock Exchange up 0.96 per cent or 211.38 points at 22,178.34.

Market continued its uptrend after reentering into IMF program. Dealers said the market witnessed an interest in the oil sector.

Pakistan Telecommunication Co Ltd rose 4.98 per cent to 25.09 rupees while Oil and Gas Development Co Ltd was up 0.45 per cent to 231.10 rupees.

The rupee ended weaker at 99.97/100.03 against the dollar, compared to Thursday’s close of 99.86/99.93.

Overnight rates in the money market rose to 8.75 per cent from Thursday’s close of 7.50 per cent.


Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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