KARACHI: Pakistani stocks closed higher on Wednesday amid renewed interest from institutional clients and foreign fund managers.
Investors are anticipating lower inflation figures for October after double digit inflation earlier in the year. Rosy result announcements from Pakistan Petroleum Ltd. and private power company Hubco further fed bullish investment.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.72 per cent, or 114.18 points, higher at 15,910.11, on total volume of 135.81 million shares. D.G. Khan Cement rose 1.17 rupees to 53.04 per share.
In the currency market, the Pakistani rupee ended at 95.84/95.90 to the dollar, compared to Tuesday’s close of 95.84/95.89.
Overnight rates in the money market remained flat at 9.00 per cent.