Pakistan stocks settle at record high, rupee weakens
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)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Japan and India vow to boost defence ties during summit
- Government urges court to leave some coal blocks with companies
- Ukraine accuses Russia of "undisguised aggression" as rebels advance
- Balance of payments rises on robust dollar inflows
The Nifty surged past the psychologically important 8,000 level for the first time on Monday as blue-chips such as ICICI Bank gained after better-than-expected quarterly economic growth data. Full Article
Government urges Supreme Court to not cancel some 'illegal' coal mines Full Article