Business | Markets
Institutional buying spurs Karachi index
The Karachi Stock Exchange (KSE) benchmark 100-share index ended up 1.47 per cent, or 142.99 points, at 9,891.13, on turnover of 52.21 million shares
- Reuters
- Published: 00:00 September 9, 2010
Karachi: In the Pakistan stock market, the index ended higher as institutions bought cement and banking sector shares such as D.G. Khan Cement and MCB bank at lower levels, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended up 1.47 per cent, or 142.99 points, at 9,891.13, on turnover of 52.21 million shares.
"Bullish activity was witnessed on strong institutional interest in oversold banking and cement sector scrips," said Ahsan Mehanti, director at Arif Habib Investments Ltd.
D.G. Khan Cement rose 4.71 per cent to end at Rs26.70 and MCB Bank ended 1.75 per cent higher at Rs187.80. Markets will be closed from Friday and reopen on Tuesday for Eid Al Fitr.
In the money market, overnight rates ended at between 12.00 and 12.15 per cent.
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