Updated on
Summary
Karachi stocks closed on Friday at a year high, passing 9,000 points psychological barrier with an increase of 185 points. Last week S&P raised Pakistan's sovereign rating to B-minus from CCC, citing improvements in its external liquidity and a reduction in its fiscal deficit. After the improved rating, the KSE 100-share index started upward rallies and today it closed higher at 9,002.67 on turnover of 163.8 million shares. After getting loan from IMF, Pakistans foreign reserves have reached at 14 billion dollars which had a positive impact on the market. There was foreign interest in all the sectors today, but once again the energy sector took the lead, dealers said. DG Khan cement was the volume leader with 10.89 million shares; its shares value increased by 1 rupee and 60 paisas.
