KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-shareindex rose 1.52 percent, or 190.60 points, to end at 12,706.52points. Turnover rose to 192.35 million shares, compared with 178.04million shares traded on Thursday.
Stocks rose more than 1.5 percent to close at their highest since June 2008 on Friday on expectations of progress on issues like capital gains tax, dealers said.
Officials from the Federal board of Revenue (FBR) and the Securities and Exchange Commission of Pakistan (SECP) are meeting on Friday to discuss policy proposals.
"The hope that FBR will soon accept SECP's gains tax proposal provided a boost to local equities," said a dealer at Topline Securities.
In the currency market, the rupee ended weaker at 90.85/90 to the dollar, compared with Thursday's close of 90.80/83 because of increased import payments. (Reuters)
Stocks rose more than 1.5 percent to close at their highest since June 2008 on Friday on expectations of progress on issues like capital gains tax, dealers said.
Officials from the Federal board of Revenue (FBR) and the Securities and Exchange Commission of Pakistan (SECP) are meeting on Friday to discuss policy proposals.
"The hope that FBR will soon accept SECP's gains tax proposal provided a boost to local equities," said a dealer at Topline Securities.
In the currency market, the rupee ended weaker at 90.85/90 to the dollar, compared with Thursday's close of 90.80/83 because of increased import payments. (Reuters)