Foreign bulls on Monday catapulted Karachi Stock Exchange (KSE) above the 20,800 mark, a massive rally wherein the benchmark index of the apex bourse piled up a solid 277 points. The Benchmark KSE-100 Index ended 1.35 percent, or 277.11 points, higher at 20,814.14. Reports of an early resolution of circular debt helped Pakistan State Oil Company Ltd close at its upper cap. The Oil and Gas Development Company Ltd (OGDCL) also closed higher, dealers said. OGDCL rose by 5 percent to Rs 220.65 and Pakistan State Oil Company Ltd (PSO) was up 5 percent at Rs 256.49.
In the currency market, the rupee ended at 98.39/98.45 against the dollar, stronger than Friday’s close of 98.45/98.50.
Overnight rates in the money market remained flat at 9.40 percent.