KSE 100-share index ends 44 points higher

KARACHI: Karachi Stock Exchange (KSE) benchmark 100-share index rose 0.19 percent or 44.36 points to 23,639.97 on Monday.

Market witnessed dull and ranged bound activity. With no major triggers in the coming days investors preferred to stay sidelines.

Telecom sector remained on investors radar as they are expecting better earnings after Government measures to curb grey trafficking.

Oil stocks witnessed profit taking while banking stocks kept rallying, dealer said.

National Bank of Pakistan rose 2.45 percent to 55.95 rupees while Oil and Gas Development Co Ltd was down 0.92 percent to 248.50 rupees.

The rupee ended weaker at 105.80/105.85 against the dollar, compared to Friday's close of 105.54/105.59.

Overnight rates in the money market fell to 8.50 percent from Friday's close of 9.25 percent. (Reuters)