Pakistani stocks rise over 200 points, rupee weakens

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KARACHI: Pakistan’s stock exchange closed higher on Friday, with the benchmark 100-share index of the Karachi Stock Exchange up 0.96 per cent or 211.38 points at 22,178.34.

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Market continued its uptrend after reentering into IMF program. Dealers said the market witnessed an interest in the oil sector.

Pakistan Telecommunication Co Ltd rose 4.98 per cent to 25.09 rupees while Oil and Gas Development Co Ltd was up 0.45 per cent to 231.10 rupees.

The rupee ended weaker at 99.97/100.03 against the dollar, compared to Thursday’s close of 99.86/99.93.

Overnight rates in the money market rose to 8.75 per cent from Thursday’s close of 7.50 per cent.




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