ISLAMABAD: The Karachi Stock Exchange (KSE) rebounded slightly on Monday, with investors picking up cheaper shares after the market fall sharply on Friday, dealers said.
The Karachi Stock Exchange benchmark 100-share index rose by 0.32 per cent, or 42.76 points, to close at 13,601.46 points on volume of 44.8 million shares.
“Most investors adopted a cautious strategy, as market saw huge foreign selling last week,” said Samar Iqbal, a dealer at Topline Securities.
Foreign investors sold shares worth a net $3,779,100 on Friday, according to the National Clearing Company of Pakistan.
The Pakistani rupee weakened slightly to end at 94.29/36 against the dollar, a record low, compared with Friday’s close of 94.26/34.
Overnight rates in the money market closed slightly higher at 11.90 per cent, compared with 11.50 per cent on Friday and 11.90 per cent last Thursday.
Dear visitor, the comments section is undergoing an overhaul and will return soon.