KARACHI: Pakistani stocks rose above 16,250 points to settle at a record high on Monday, supported by a jump in shares of domestic cement companies, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.33 per cent, or 53.64 points, higher at 16,251.38.
That was the highest ever settlement and within striking distance of the market’s peak of 16,292.45 points, reached during intra-day trading on Nov 12.
Maple Leaf Cement rose 8.31 per cent, or 1 rupee, to 13.04 per share, while Fauji Cement was up 1.93 per cent, or 0.13 rupees, to 6.87 per share.
In the currency market, the Pakistani rupee weakened, closing at 96.01/96.06 to the dollar, compared to Friday’s close of 95.88/95.94.
Overnight rates in the money market ended at 9.25 per cent compared to Friday’s close of 9 per cent.