Pakistan shares close at record high

KARACHI: Pakistan stocks extended gains for a second session to close at an all-time high on Wednesday, on continued foreign investor inflows and positive sentiment about corporate earnings, dealers said.


The benchmark 100-share index of the Pakistan Stock Exchange closed up 0.73 percent, or 287.64 points, at 39,434.97.

“Market witnessed a net foreign portfolio inflow of $1.4 million rupees in the last session.

Similarly, sentiment was also positive on earnings season,” said Fawad Khan, head of research, KASB Securities Ltd.

Heavyweight stocks such as Habib Bank Ltd gained 3.08 percent, Lucky Cement Ltd rose 2.69 percent and United Bank Ltd climbed 1.63 percent.

The rupee ended flat at 104.81/104.85 against the dollar, compared with Tuesday´s close of 104.81/104.85. Overnight rates in the money market rose to 6.10 percent from Tuesday´s close of 5.90 percent.

($1 = 104.6500 Pakistani rupees)



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