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.
