Pakistani stocks hit four-year high

Published Aug 31, 2012 01:27pm

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

KARACHI: Pakistani stocks closed at a four-year high on Friday after investors were encouraged by a slowdown in inflation, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.90 per cent, or 137.87 points, higher at 15,391.58, on volume of 13.12 million shares.

Pakistan’s Consumer Price Index (CPI) rose 9.1 per cent in August from a year earlier, the Pakistan Bureau of Statistics said on Friday. The year-on-year rate was 9.60 per cent in July.

“A further slowdown in inflation numbers enticed investors to take fresh positions,” said Samar Iqbal, a trader at Topline Securities.

In the currency market, the Pakistani rupee ended slightly weaker at 94.56/94.61 to the dollar, compared to Thursday’s close of 94.48/94.54.

Overnight rates in the money market ended at 10.40 per cent compared with 7.50 on Thursday.


Do you have information you wish to share with Dawn.com? You can email our News Desk to share news tips, reports and general feedback. You can also email the Blog Desk if you have an opinion or narrative to share, or reach out to the Special Projects Desk to send us your Photos, or Videos.

More From This Section

Comments (1) (Closed)


marghoob ahmed siddiqui
Aug 31, 2012 06:15pm
It is a happy news. Pakistan economy is showing signs of improvement. We rarely hear such good news about Pakistan Thanks GOD.