KSE ends record high on second straight session

KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-shareindex ended 0.34 percent, or 54.81 points, higher at 16,156.36, on total volume of 142.88 million shares.

Stocks closed at a record high for the second straight session on Monday, led by conglomerate Engro Corp and expectations for monetary easing.

Engro rose 5 percent to 95.41 rupees, while Azgard Nin fell more than 2 percent to 6.80 rupees per share.

Fatima Fertilizer eased nearly 1 percent to 25.55rupees.

In the currency market, the rupee weakened ahead of scheduled repayments to the International Monetary Fund later this month. It ended at 96.12/96.18 to the dollar, compared to Friday's close of 95.72/95.77.

Overnight rates in the money market ended at 7.50 percent compared to Friday's 9.00 percent. (REUTERS)