KARACHI: The Karachi Stock Exchange continued the upwards march on Friday as the benchmark KSE-100 index posted gain of 251.52 points or 0.84 percent to settle at 30,109.89 in the midday trading.
Although local participants were cautious and most opted to take profit at current high levels, the market remained strong, drawing its strength from heavy foreign participation over the week.
KSE continued yesterday’s momentum as the opposition jirga, mediating between the government and PTI and PAT, presented “the best possible formula” to end the month-long political impasse.
Apparently, all three sides are sticking to their respective stances and are not showing any flexibility. PTI Chairman Imran Khan keeps insisting that he will not budge from the sit-in in front of Parliament House unless Prime Minister Nawaz Sharif resigns.
SBP dollar purchases fall to 16-month low at $154m
KARACHI: The State Bank of Pakistan (SBP) significantly reduced its dollar purchases from the interbank foreign exchange market in May,...
