KSE close higher, rupee steady

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The Karachi Stock Exchange (KES) market closed higher on Thursday, driven by institutional buying and strong corporate results, traders said.

KSE benchmark 100-share index ended 0.87 percent, or 147.69 points, higher at 17,056.36.

“Finally (the) Karachi bourse managed to close above (the) psychological mark of 17,000,” said Samar Iqbal, a dealer at Topline Securities.

“Institutional buying and good corporate results helped equity prices to improve by approximately 1 percent.”

Cement stocks performed well. Fauji Cement rose 3.88 percent to 7.77 rupees per share.

In the currency market, the Pakistani rupee ended steady at 97.68/97.74 against the dollar, compared to Wednesday’s close of 97.68/97.73.

Overnight rates in the money market ended at 9.50 percent compared to Wednesday’s close of 9 percent.

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Farhan Abro is the founder of INCPak, an independent digital media platform launched in 2012. Based in Islamabad, he blends journalism with passions for automotive tech, landscape photography, music, and AI offering a unique perspective shaped by both creativity and innovation.