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Pakistan Stock Exchange shares hit record high

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KARACHI/ISLAMABAD: Pakistan stocks closed at a record high on Thursday, helped by good foreign investor inflows, dealers said.

The benchmark 100-share index of the Pakistan Stock Exchange finished 1 percent higher, or 366.84 points, to hit a record high closing level of 36,685.05.

It breached the 36,800-mark earlier in the session to hit a record intraday high.

“Heavy inflow of foreign funds and a political scene heading towards resolution attracted investor interest and led the market to close at the highest-ever level,” said Hammad Aman, manager equity sales at Topline Securities Pvt Ltd.

K-Electric Ltd, the volume leader, gained 8.82 percent, Pakistan Telecommunication Company Ltd rose 6.57 percent and small-cap TRG Pakistan Ltd closed 1.86 percent higher.

The rupee ended at 104.72/104.80 against the dollar, compared with Wednesday’s close of 104.68/104.74

Overnight rates in the money market rose to 6.20 percent from Wednesday’s close of 5.80 percent.

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