The Karachi Stock Exchange.—Reuters (File Photo)

KARACHI: Pakistani stocks closed higher on Monday as there was higher institutional support in index heavyweight stocks.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.16 per cent, or 26.60 points, higher at 16,891.94.

“TRG remained the volume leader. Interestingly Engro Foods due to some institutional support closed 5% up,” said dealer Samar Iqbal at Topline Securities.

Stocks that ended positively included TRG Pakistan, which rose 4.16 per cent, or 0.24 rupees, to 6.01 per share and Engro Foods, which was up 5 per cent, or 4.59 rupees, to 96.48 per share.

Stocks that fell included Dewan Cement, down 3.27 per cent to 5.03 per share, and D.G.Khan Cement, which fell 0.39 per cent to 54.25 per share.

In the currency market, the Pakistani rupee ended at 97.48/97.55 against the dollar, compared to Friday’s close of 97.49/97.54.

Overnight rates in the money market remained flat at 9.40 per cent.

More From This Section

Dar takes tax officials to task over target

Chief commissioners were called in to work out means for showing growth in revenue collection to reach the target.

Saudi Arabia warns PIA of halting flights over unpaid dues

Saudi civil aviation authority threatened PIA of stopping all flights in case dues are not cleared by April 17.

Amount of unpaid power bills increases to Rs286bn

Power companies blame poor governance of power sector for the fresh build-up of unpaid bills known as circular debt.

PTA dispels reports of dismal response to 3G, 4G auction

PTA says response was “very encouraging and satisfactory”, and that the auction will go through on April 23.


Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Poll
From The Newspaper
Tweets