Dawn News

Brokers and business analysts inside the Karachi Stock Exchange. – File photo by AFP

KARACHI: Pakistani stocks closed higher on Wednesday with increased activity in the telecoms sector, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.58 per cent, or 91.48 points, higher at 15,845.30 on total volume of 106.24 million shares.

“Stocks again closed at a new peak today because of anticipation that September earning reports will exceed expectations,” said Mohammad Sohail at Topline Securities.

“PTCL was active today, mainly because the company has started charging a higher tariff on international calls.”

In the currency market, the Pakistani rupee ended weaker at 95.50/95.70 compared to Wednesday’s close of 95.43/95.63 to the dollar.

Overnight rates in the money market remained flat at 9.90.

Email feedback and queries to Dawn.com's editorial team, or visit our contact page


Comments (1) Closed

Cyrus Howell
Oct 11, 2012 06:28pm
Continue to buy stock. It is still a bull market.