Updated :
Monday July 2 , 2012 5:30:32 PM
The
Karachi Stock Exchange closed up on Monday in line with global markets
and on hopes for improvement in badly frayed relations between Islamabad
and Washington, dealers said.
KSE benchmark 100-share index closed 2.47 percent, or 341.51 points, higher at 14,142.92 on volume of 84.1 million shares.
"Recovery in the international equity and commodity markets, coupled with positive developments in Pakistan-U.S. relations, created an across-the-board buying spree," said Samar Iqbal, a dealer at Topline Securities.
Pakistan said on Monday that no decision has been reached in difficult talks to repair ties with the United States, but there has been "positive progress", the foreign ministry spokesman was quoted as saying by state media.
Monday was a bank holiday in Pakistan.
The rupee closed at 94.49/55 to the dollar on Friday.
KSE benchmark 100-share index closed 2.47 percent, or 341.51 points, higher at 14,142.92 on volume of 84.1 million shares.
"Recovery in the international equity and commodity markets, coupled with positive developments in Pakistan-U.S. relations, created an across-the-board buying spree," said Samar Iqbal, a dealer at Topline Securities.
Pakistan said on Monday that no decision has been reached in difficult talks to repair ties with the United States, but there has been "positive progress", the foreign ministry spokesman was quoted as saying by state media.
Monday was a bank holiday in Pakistan.
The rupee closed at 94.49/55 to the dollar on Friday.
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