KARACHI: Pakistani stocks closed higher on Wednesday with increased activity in the telecoms sector, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.58 per cent, or 91.48 points, higher at 15,845.30 on total volume of 106.24 million shares.
“Stocks again closed at a new peak today because of anticipation that September earning reports will exceed expectations,” said Mohammad Sohail at Topline Securities.
“PTCL was active today, mainly because the company has started charging a higher tariff on international calls.”
In the currency market, the Pakistani rupee ended weaker at 95.50/95.70 compared to Wednesday’s close of 95.43/95.63 to the dollar.
Overnight rates in the money market remained flat at 9.90.