KARACHI: Pakistan’s stock market closed higher yesterday, pushed by investor interest in the Pakistan Telecommunication Corporation Ltd.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.18 percent, or 31.40 points, higher at 17,797.22.
Pakistan Telecommunication Corporation Ltd. closed at its upper limit as it continue rallying after its result announcement. Stocks in Pakistan can only move up or down 5 percent per day in order to control volatility in the market.
In the currency market, the rupee ended steady at 98.04/98.08 against the dollar, compared to Thursday’s close of 98.04/98.09.
Overnight rates in the money market rose to 8.50 percent compared to Thursday’s close of 7 percent.
Reproduced with permission from Arab News