Pakistani stocks up over EU textile waiver
Pakistani shares ended higher on Friday in healthy turnover led by the textile sector after a World Trade Organisation committee meeting this week approved a European Union waiver on duties for 75 products from Pakistan, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index closed up 0.44 per cent, or 52.84 points, at 11,982.62 points.
Volume rose to 130 million shares, compared with 107.72 million traded on Thursday.
“Activity was mostly limited to the middle-tier stocks especially the textile sector,” said Shuja Rizvi, a dealer at brokers Al-Hoqani Securities Ltd.
Textile companies such as Azgard Nine ended 9.44 per cent higher at 4.29 rupees and Nishat Mills gained 1.47 per cent at 48.16 rupees.
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