Karachi Stock Exchange 100-index gains 52 points

Islamabad: (Monday, July 16, 2012) The Karachi Stock Exchange (KSE) 100-index benchmark rose 52.29 points or 0.36 points to close the market at 14,384.58 point.

With this increase, the total volume of shares traded today remained at 55.40 million.

Although the main stock market observed a positive trend today, but on a whole, the buyers, for waiting for companies to announce their financial years result, remained cautious and refrained from heavy buying.

Supporting this phenomenon among the investors, a share dealer at the Topline Securities said, “Investors are waiting for the June results which are likely in the coming weeks.”

Meanwhile, in the currency market, the rupee continued with the depreciating trend and ended up at 94.45/52 to its US counterpart. On Friday, the rupee closed at 94.43/49 against dollar.

In the money market, overnight rates ended up at 11.75 percent from 11.50 percent on Friday due to the decrease in liquidity market.

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Posted by Fayyaz Yaseen on Jul 16 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