KARACHI, March 1 (Reuters) - Pakistan's stock market closed
higher on Friday, boosted by continuous foreign buying and
buoyed by expectation that the new caretaker government will
soon take over in advance of elections scheduled for this
The Karachi Stock Exchange's (KSE) benchmark
100-share index ended 0.06 percent, or 11.52 points, higher at
Some profit taking was seen in heavyweight energy companies,
including the Oil and Gas Development Company Ltd and
Pakistan Petroleum. Renewed interest was also witnessed
in Engro Corporation, Pakistan Telecommunication Corporation
Trading volumes reached to close 400 million shares, with a
value of 10 billion rupees, the highest for nearly nine months.
Engro Corporation rose 1.06 percent to 122.48
rupees, while Pakistan Telecommunication Corporation
fell 0.51 percent to 23.32 rupees.
In the currency market, the rupee remained steady at
98.15/98.20 against the dollar, compared to Thursday's close of
Overnight rates in the money market fell to 9 percent from
Thursday's close of 9.40 percent.
(Compiled by the Karachi newsroom)