KSE-100 crosses 25,000 in mid-day trading

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KARACHI: Pakistan’s main stock exchange closed higher on Friday, with the benchmark 100 share index of the Karachi Stock Exchange rising 0.28 per cent, or 69.86 points, to 24,870.55. With continued institutional support, the market gained 70 points to close at yet another high of 24,870 points. During the day’s session, the market crossed the psychological level of 25,000 points. Dealers said that banking sector scrips remained in the limelight.

The National Bank of Pakistan rose 2.68 per cent to55.89 rupees while Bank Al Falah Ltd was up 1.78 per cent at 25.76 rupees.

The rupee ended at 108.32/108.38 against the dollar, compared to Thursday’s close of 108.50/108.56.

Overnight rates in the money market fell to 9.75 per cent from Thursday’s close of 10.00 per cent.