PSX hits record high led by banking stocks

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.