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Pakistani stocks close slightly up; o/n rates up

August 09, 2012


Traders at the Karachi Stock Exchange.—Reuters (File Photo)

ISLAMABAD: Pakistan’s main stock market closed slightly up on Thursday with many investors cautious ahead of the central bank’s monetary policy announcement on Friday.

The Karachi Stock Exchange benchmark 100-share index gained 15.45 points, or 0.1 per cent, to end at 14,759.59. The volume of shares traded was 50.58 million.

“Retail investors were cautious today due to confusing signals” on whether the central bank will cut the policy interest rate or keep it on hold, said Samar Iqbal, a dealer at Topline Securities. She also said that the market “see-sawed” through the day on corporate results.

In the currency market, the rupee closed almost flat at 94.00/07 to the dollar, compared with 94.03/10 on Wednesday.

Overnight rates in the money market closed up at 11.90 per cent, compared with 11.75 per cent on Wednesday.