STOCK:
Karachi Stocks Up 123.40 Points:
KARACHI, Aug 31: At the close of trading, the KSE-100 index was at 15377.11, up 123.40 points.
(TODAY: MARKET PLUS 78.17 …11.13 AM)
August 31, 2012
5 TOP GAINERS & LOOSERS:
|
Colgate Palmolive
|
Rs
55.00
|
Nestle Pakistan
|
Rs
(50.00)
|
|
Bata Pakistan
|
Rs
52.89
|
Mithchells Fruit
|
Rs
(13.75)
|
|
Rafhan Maize
|
Rs
30.81
|
Ismail Industries
|
Rs
(7.30)
|
|
Exide Pakistan
|
Rs
15.46
|
Indus Motor Co
|
Rs
(7.10)
|
|
Island Textile
|
Rs
8.90
|
Abbot Lab
|
Rs
(3.17)
|
KARACHI: Pakistani stocks closed at a four-year high on Friday after investors were encouraged by a slowdown in inflation, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.90 per cent, or 137.87 points, higher at 15,391.58, on volume of 13.12 million shares.
Pakistan’s Consumer Price Index (CPI) rose 9.1 per cent in August from a year earlier, the Pakistan Bureau of Statistics said on Friday. The year-on-year rate was 9.60 per cent in July.
“A further slowdown in inflation numbers enticed investors to take fresh positions,” said Samar Iqbal, a trader at Topline Securities.
In the currency market, the Pakistani rupee ended slightly weaker at 94.56/94.61 to the dollar, compared to Thursday’s close of 94.48/94.54.
Overnight rates in the money market ended at 10.40 per cent compared with 7.50 on Thursday.
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