Pakistan stocks close higher, rupee strengthens marginally against dollar

KARACHI: Pakistan stocks closed higher on Friday, with the benchmark KSE-100 index gaining 399 points, while the rupee strengthened marginally against the US dollar in the interbank market.

The KSE-100 index rose 399.14 points, or 0.23 per cent, to close at 175,328.82, according to the Pakistan Stock Exchange (PSX).

Market breadth was positive, with 258 stocks advancing, 207 declining and 104 remaining unchanged out of 569 stocks traded during the session.

The index traded between an intraday high of 175,418.29 and a low of 174,515.38. The KSE-100 segment recorded 259.37 million shares in turnover, with traded value of around Rs16.29 billion, according to PSX data.

The positive close reflected improved investor sentiment, with buying interest supporting the benchmark index during the session.

The PSX has continued to see volatile trading sessions in recent weeks, with investors monitoring domestic economic developments as well as global market trends.

In the currency market, the rupee strengthened by one paisa against the US dollar, which closed at Rs277.41 in the interbank market, according to State Bank of Pakistan data.

The dollar had closed at Rs277.42 a day earlier.

The marginal appreciation came as the rupee remained largely stable against the US currency amid ongoing market activity.