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.
Source: Dawn News
Link: http://dawn.com/2012/08/31/pakistani-stocks-hit-four-year-high/
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