ISLAMABAD: Pakistan’s main stock market ended slightly higher on Thursday, though investors moved with caution as a result of the long-running political uncertainty in the country, dealers said.

The Karachi Stock Exchange’s benchmark 100-share index gained 21.28 points, or 0.15 per cent, to close at 14,401.74 on volume of 83.2 million shares.

“The market initially rallied, but uncertainty on the political front forced investors to trim their gains,” said Samar Iqbal, a dealer at Topline Securities.

The index hit a high of 14,500.6 points during Thursday’s session.

Pakistan’s Supreme Court on Thursday ordered Prime Minister Raja Pervez Ashraf to re-open corruption cases against President Asif Ali Zardari, another twist in the long-running showdown between the court and the government.

The previous prime minister, Yousuf Raza Gilani, was disqualified by the Supreme Court last month after he was convicted of contempt for failing to re-open the cases.

In the currency market, the rupee closed at almost flat 94.33/38 to the dollar, compared with 94.33/39 on Wednesday.

Overnight rates in the money market remained unchanged at 11.90 per cent.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.