KSE 100-index ends flat

KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.15 percent, or 17.44 points, higher at 11,933.46. Volume rose to 110.35 million shares, compared with 45.49million shares traded on Monday.

Stocks edged higher on Tuesday, driven by healthy corporate results announcements by some companies, and dealers said volumes also improved compared with the last few days.

However, they said stocks are unlikely to rise much in the coming days as investors remain worried that upcoming budget may include some measures that could affect stock investment.

The government is expected to announce the budget for the2011/12 (July-June) fiscal year by the end of May or early June.


The rupee, meanwhile, ended weaker amid a higher demand for the dollar, but dealers said healthy dollar inflows would keep the local unit steady in the near term.

The rupee closed at 84.65/70 to the dollar, down from Monday's close of 84.50/55.

The rupee has performed strongly in recent months, hitting an 11-month high earlier this month, thanks largely to a record inflow of remittances, strong foreign exchange reserves, healthy exports and a current account surplus, according to analysts and officials. (Reuters)