Dullness dwells at KSE

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KARACHI: Karachi Stock Exchange (KSE) ended marginally higher on Friday on light trade, as investors stayed on the sidelines awaiting the announcement of the next monetary policy, dealers said.

The State Bank of Pakistan is due to announce its monetary policy on Saturday for the subsequent two months. Analysts expect the bank to cut interest rates by up to 100 basis points to 12.5 percent because of lower inflation.

The KSE benchmark 100-share index rose 0.13 percent, or 14.84 points, to end at 11,853.84 on turnover of just 70.48 million shares.

"Select stocks buying kept the trading session range-bound just ahead of monetary policy announcement," said Samar Iqbal, a dealer at Topline Securities Ltd.

Among the most active companies, volume leader Pakistan Telecommunication Co Ltd rose 3.27 percent to 11.69 rupees, and D.G. Khan Cement gained 4.97 percent to 22.60 rupees. (Reuters)