KARACHI: Pakistan’s stock market closed higher, boosted by higher volumes and a recovery in the banking sector, dealers said.
Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 1.15 percent, or 201.37 points, higher at 17,693.37 points.
Strong cotton prices supported the textile sector, said Samar Iqbal at Topline Securities. Muslim Commercial Bank Ltd. MCB.KA rose 3.14 percent to 188.75 rupees while Nishat Mills Ltd. NISM.KA was up 4.99 percent to 81.99 rupees.
In the currency market, the rupee PKR= ended weaker at 98.13/98.18 against the dollar, compared to Monday’s close of 98.10/98.16
Overnight rates in the money market fell to 9 percent from Monday’s close of 9.25 percent.
Pakistan stocks up
Pakistan stocks up
