A trader on the floor of the Karachi Stock Exchange.—Reuters (File Photo)

ISLAMABAD: Pakistan’s main stock market ended on a four-year high on Wednesday with investor confidence boosted by below-expectation inflation data for July, dealers said.

The Karachi Stock Exchange benchmark 100-share index gained 139.86 points, or 0.96 per cent, to close at 14,716.86 on volume of 62.9 million shares, its highest close since May 2008.

“Lower-than-expected inflation numbers for July pushed (up) the KSE-100 index,” said Samar Iqbal, a dealer at Topline Securities.

Pakistan’s Consumer Price Index (CPI) rose 9.60 per cent in July from a year earlier, the Pakistan Bureau of Statistics said on Wednesday. The year-on-year rate was 11.26 per cent in June.

In the currency market, the rupee closed almost flat at 94.61/67 to the dollar, compared with 94.62/68 on Tuesday.

Overnight rates in the money market closed lower at 11 per cent, compared with 11.90 per cent on Tuesday, because of increased liquidity.

Opinion

Editorial

‘Source of terror’
Updated 29 Mar, 2024

‘Source of terror’

It is clear that going after militant groups inside Afghanistan unilaterally presents its own set of difficulties.
Chipping in
29 Mar, 2024

Chipping in

FEDERAL infrastructure development schemes are located in the provinces. Most such projects — for instance,...
Toxic emitters
29 Mar, 2024

Toxic emitters

IT is concerning to note that dozens of industries have been violating environmental laws in and around Islamabad....
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...