KARACHI, April 1 (Reuters) – Pakistan’s main stock exchange closed higher on Tuesday, with the benchmark 100-share index of the Karachi Stock Exchange rising 1.49 percent, or 405.59 points to 27,565.50.
Lower than expected Consumer Price Index of 8.53 percent and Moody’s provisional rating of Caa1 to the Government of Pakistan’s announced bond offering helped index to close at yet new high.
Institutional support in index heavy weight oil and banking stocks helped, said dealer Samar Iqbal at Topline Securities.
The rupee PKR= ended at 98.20/98.28 against the dollar compared to Monday’s close of 98.25/98.35.
Overnight rates in the money market remained flat at 10.00 percent.
(Compiled by the Karachi newsroom)