Pakistan stocks steady, support from cement firms
KARACHI: Pakistani stocks steadied above 16,100 points on Wednesday, as a jump in cement shares helped offset concerns over violence in the country’s financial capital.
Maple Leaf Cement rose 9.67 per cent, or 1.0 rupees, to 11.34 per share, while D.G. Khan Cement rose 0.81 per cent, or 0.43 rupees, to 53.20 per share.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.06 per cent, or 9.20 points, lower at 16,120.52.
In the currency market, the Pakistani rupee steadied at 95.86/95.91 to the dollar, compared to Tuesday’s close of 95.86/95.92, ahead of International Monetary Fund repayments due this month.
Overnight rates in the money market remained flat at 9.90 per cent.