Pakistani stocks higher; rupee weakens, o/n rates flat

Published August 21, 2014
Photo courtesy: www.kse.com.pk/
Photo courtesy: www.kse.com.pk/

KARACHI: Pakistani stocks ended higher on Thursday, with the benchmark 100-share index of the Karachi Stock Exchange rising to 0.70 per cent, or 200.41 points, to 28,865.25 as Pakistan Tehreek-i-Insaf (PTI) chairman Imran Khan opened talks with the government over protests.

The index rose as political tensions declined after the government started negotiations with anti-government protesters camped in Islamabad since last Friday, said Samar Iqbal at Topline Securities.

Leaders of Pakistani protesters trying to bring down Prime Minister Nawaz Sharif were talking with the government on Thursday as a way out of an impasse that has raised concerns about the nuclear-armed country's political stability.

Pakistan Petroleum Ltd rose 1.20 per cent to 226 rupees, while D.G.Khan Cement Co Ltd closed up 1.28 per cent at 75 rupees.

The rupee ended at 101.00/101.06 against the dollar, compared with Wednesday's close of 100.10/100.20.

Overnight rates in the money market remained flat at 9.50 per cent.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Border clashes
19 May, 2024

Border clashes

THE Pakistan-Afghanistan frontier has witnessed another series of flare-ups, this time in the Kurram tribal district...
Penalising the dutiful
19 May, 2024

Penalising the dutiful

DOES the government feel no remorse in burdening honest citizens with the cost of its own ineptitude? With the ...
Students in Kyrgyzstan
Updated 19 May, 2024

Students in Kyrgyzstan

The govt ought to take a direct approach comprising convincing communication with the students and Kyrgyz authorities.
Ominous demands
Updated 18 May, 2024

Ominous demands

The federal government needs to boost its revenues to reduce future borrowing and pay back its existing debt.
Property leaks
18 May, 2024

Property leaks

THE leaked Dubai property data reported on by media organisations around the world earlier this week seems to have...
Heat warnings
18 May, 2024

Heat warnings

STARTING next week, the country must brace for brutal heatwaves. The NDMA warns of severe conditions with...