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KSE close higher; rupee steady

KSE close higher; rupee steady

KARACHI: Pakistan’s main stock exchange closed higher on Thursday, with the benchmark 100 share index of the Karachi Stock Exchange rising 1.45 percent, or 355.31 points, to 24,800.69.

Led by institutional buying helped market gain 355 points, thus enabling it to close at yet another high of 24,801 level. The Fauji Cement Ltd rose 4.55 percent to 14.03 rupees while Nishat Mills Ltd was up 2.08 percent at 115.83 rupees.

The rupee ended steady at 108.50/108.56 against the dollar, compared to Wednesday’s close of 108.50/108.56. Overnight rates in the money market remained flat at 10.00 percent.