Stock prices consolidate above 29000 point level

KARACHI: Stock prices at Karachi Stock Exchange (KSE) closed almost unchanged on Tuesday, with the benchmark 100-share index of the Karachi Stock Exchange rose 0.01 percent, or 1.65 points to 29,095.77.

With healthy volumes of Rs.15.8 bn market kept consolidating above 29,000 points mark in a ranged bound session.

Oil stocks witnessed some profit taking Banking sector gained momentum as investors continued to believed that due to economic recovery banks will be the major beneficiary,
said dealer.

Pakistan State Oil Co Ltd fell 1.31 percent to 443.03 rupees while Bank of Punjab was up 3.04 percent to 11.20 rupees.

The rupee ended steady at 96.00/96.05 against the dollar compared to Monday´s close of 96.00/96.05.Overnight rates in the money market remained flat at 10.00 percent.