The Karachi Stock Exchange (KSE).—Reuters (File Photo)

ISLAMABAD: Pakistan’s main stock market closed up on Friday as investors cheered improved ties between Pakistan and the United States, dealers said.

The Karachi Stock Exchange benchmark 100-share index gained 139.27 points, or 0.98 per cent, to close at 14,310.18 on volume of 78.48 million shares.

“One of the main reasons for the upward trend in the market was the positive development in Pakistan-US relations, especially reports that the US has made a commitment for (arrears) payments,” said Muhammad Rizwan, a dealer at Topline Securities.

Islamabad and Washington reached a deal on Tuesday to reopen land routes that Nato uses to supply troops in Afghanistan, ending a seven-month crisis that damaged ties between the two countries and complicated the US-led Afghan war effort.

The agreement appeared to include a commitment by the United States to pay Pakistan over $1 billion in military aid arrears.

More From This Section

3G, 4G may triple internet cost for users

Post-paid and corporate customers are expected to be offered next-generation services first.

Investors fearful of intervention: Dr Ishrat

Fear of suo motu intervention by SC, high courts in financial transactions had helped elevate Pakistan's risk profile.

Sindh millers raise flour prices

The rate of flour has been raised to Rs38 per kg from Rs37 per kg, and the prices may go up further in the coming days.

Dar’s statement helps dollar gain 1pc

Dar’s statement that the dollar will be kept around Rs98 to support the export industry created panic-like situation.

Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
From The Newspaper