Pakistan stocks settle at record high, rupee weakens

KARACHI Mon Nov 19, 2012 5:45pm IST

Stocks

   

KARACHI Nov 19 (Reuters) - Pakistani stocks rose above 16,250 points to settle at a record high on Monday, supported by a jump in shares of domestic cement companies, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.33 percent, or 53.64 points, higher at 16,251.38. That was the highest ever settlement and within striking distance of the market's peak of 16,292.45 points, reached during intra-day trading on Nov. 12.

Maple Leaf Cement rose 8.31 percent, or 1 rupee, to 13.04 per share, while Fauji Cement was up 1.93 percent, or 0.13 rupees, to 6.87 per share.

In the currency market, the Pakistani rupee weakened, closing at 96.01/96.06 to the dollar, compared to Friday's close of 95.88/95.94.

Overnight rates in the money market ended at 9.25 percent compared to Friday's close of 9 percent. (Compiled by the Karachi newsroom)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Nifty Falls

Nifty Falls

The broader index hits lowest in nearly a week on profit taking  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage