12
KARACHI: Pakistan stocks edged up to a fresh record closing high on Thursday, led by banking stocks, dealers said.
The benchmark 100-share index of the Pakistan Stock Exchange closed 0.14 per cent higher, or 55.72 points, at 39,861.60.
“Banking stocks performed on the day, which led the market to close at an all-time high,” said Hammad Aman, manager, equity sales at Topline Securities Pvt Ltd.
United Bank Ltd gained 3.90pc, Habib Bank Ltd increased by 0.35pc and Habib Metropolitan Bank Ltd rose 1.67pc.
The rupee ended stronger at 104.52/104.59 against the dollar, compared with Tuesday's close of 104.57/104.61.
Overnight rates in the money market fell to 5.85 percent from Tuesday's close of 5.90 percent.
Read more
On DawnNews
Comments (12) Closed
Aug 12, 2016 11:45am
Get ready for a big 'correction'.
Recommend
0
Aug 12, 2016 11:48am
Great! Keep up the hard work!!!
Recommend
0
Aug 12, 2016 01:06pm
Another artificial bubble by those unscrupulous big sharks taking advantage of inside trading .Soon this is going to burst .
SECP never played its role to regulate PSX .
Recommend
0
Aug 12, 2016 01:54pm
Good going Pakistan and good going PML N
Recommend
0
Aug 12, 2016 04:16pm
PSX will cross 40,000 barrier this year.
Recommend
0
Aug 12, 2016 04:26pm
Shows teh confidence of all investors is all time high. Great achievement by PML N
Recommend
0
Aug 12, 2016 04:38pm
Rarely stock market news is reported
Recommend
0
Aug 12, 2016 05:05pm
PSX last year gave me the return of 5% but I am optimistic that this year profit will be near 15%.Stock business a little difficult in the beginning but I encourage all my educated country fellowsto invest in stocks for better return.
Recommend
0
Aug 12, 2016 06:18pm
@m ashraf Don't you think 5% after taking lot of risk is too less. we can get till 8% interest with FD from banks and these days FD are available starting from 7 days. I invested 10 Lakh for 1 year in FD and got 7.25% profit without any risk. We can always take risk if we have spare money but with this little money, I would suggest to invest in trusted source. I am from India so sorry if FD with same interests are not available in Pakistan but just a suggestion.
Recommend
0
Aug 12, 2016 07:58pm
@AHMAD your suggestion is very positive but the problem is, if we do not take risk and not invest in stock or property. The other option is only banks or saving schemes which give us very low and fixed return.
Recommend
0
Aug 12, 2016 10:30pm
My brother who works for UBL does more work in a day than NS or any of his cabinet does in a month. So all those getting giddy about PMLN, this performance has nothing to do with this government, and all to do with the hardworking and patriotic Pakistanis and their companies who are keeping Pakistan going.
Recommend
0
Aug 13, 2016 02:29am
This has nothing to do with how economy is progressing.....
Recommend
0
