Karachi Stock Exchange closes higher

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KARACHI: Cementmakers Friday boosted Karachi Stock Exchange, which bounced back after closing lower a day earlier.

The benchmark 100-share index ended 0.59 percent, or 120.43 points, higher at 20,537.03, while KSE-30 Index rose by 46.89 points to close at 15921.28 level.

Fauji Cement and D.G.Khan Cement rallied in anticipation of the government allocating a high budget for development expenditures.

Pakistan State Oil Company Ltd gained Rs9.00, with investors hoping the resolution of circular debt would help the oil marketing company, dealers said.

D.G.Khan Cement Company Ltd rose 2.21 percent to Rs75.50 and Pakistan State Oil Company Ltd was up 4.23 percent at Rs244.50.

On Friday, the shares of 381 companies were traded out of which 242 closed higher, 113 closed lower while 26 remained unchanged.

Total turnover was 372302740 shares as compared to previous volume of 418701095.

Most active trading was recorded in the Rafhan Maize XD and Bata (Pakistan).

Courtesy: The News

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