KARACHI: Pakistani stocks closed slightly higher on Tuesday, settling at a record high for the second straight session, supported by telecom shares.
The Karachi Stock Exchange (KSE) benchmark 100-share index nudged up 0.41 points to 16,251.79. That was the highest ever settlement and within striking distance of the market’s peak of 16,292.45 points, reached in intra-day trading on Nov.12.
Telecoms firm PTCL surged 3.05 per cent, or 0.54 rupees, to 18.22 per share, while DG Khan Cement rose 0.26 per cent.
Overnight rates in the money market ended at 9.90 per cent compared to on Monday’s close of 9.25 per cent.