Business | Markets
Pakistan shares gain for third straight day
Pakistan's Karachi Stock Exchange 100 Index added 8.72 points, or 0.1 per cent, to close at 14,980.66. The benchmark closed at a record high for a third straight day.
- B;oomberg
- Published: 01:05 February 23, 2008
Karachi: Pakistan's Karachi Stock Exchange 100 Index added 8.72 points, or 0.1 per cent, to close at 14,980.66. The benchmark closed at a record high for a third straight day.
D.G. Khan Cement, Pakistan's second-biggest maker of the building material, rose Rs4.75, or 4.5 per cent, to Rs111.20.
Lucky Cement, Pakistan's biggest maker of the building material, gained 70 paise, or 0.5 per cent, to Rs129.50.
Expectations of improved financial results and a positive outlook for cement sales after the slow winter season lifted stocks.
MCB Bank, the nation's biggest lender by market value, rose Rs20.25, or 4.5 per cent, to Rs472.
MCB Bank gained on speculation it may sell shares to an overseas company, said Khurram Schezad, senior research analyst at Investcapital and Securities in Karachi.
National Bank of Pakistan, the nation's biggest lender by assets, fell Rs5.05, or 1.9 per cent, to Rs261.75.
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