Hopes for Better Ties with the US: KSE Ends Up

Karachi: (Monday, July 02, 2012) As volatile as ever to the news about Pakistan’s international relations, particularly with the US, the Karachi Stock Exchange exhibited an increasing trend mainly due to the hopes for improved
ties with the United States in the near future.

Sharing details over the market activity today, a dealer said that the business community/ investors are eagerly looking forward to see improvement in the badly frayed ties between Islamabad and Washington.

Moved by the positive expected news, the Karachi Stock Exchange benchmark 100-share index closed 2.47 points or 341.51 points higher. With a total share trade volume of 84.1 million, the market closed at 14,142.92.

Pakistan, while sharing its stance over restoration of the NATO supplies to Afghanistan, said that amid the difficult talks to repair ties between the USA and Pakistan, no decision has been reached as yet. However, the foreign
ministry spokesman said that there is “positive progress” that both the sides were looking forward to carry forward.

Monday was a Bank holiday in Pakistan, and on closure of the last week on Friday, the rupee/dollar exchange rate remained at 94.49/55.

Overnight rates in the money market closed at 11.90 percent on Friday.

Short URL: https://www.newspakistan.pk/?p=27908

Posted by Fayyaz Yaseen on Jul 2 2012. Filed under Business, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry