Stocks recover 98 points at KSE

KARACHI: Stock prices witnessed some recovery at Karachi Stock Exchange (KSE) on Thursday as investors were seen taking positions in blue chips.

The Karachi Stock Exchange's (KSE) benchmark100-share index ended 0.60 percent, or 98.55 points, higher at 16,588.54.

"We expect the market to jump back in to a bullish tone as result season kicks in," said a stock dealer.

Financial services firm Jahangir Siddiqui rose 6.77 percent to 15.77 per share and Byco Petroleum was up 2.75 percent to 13.46 per share.

Engro Corp fell 0.05 percent to 88.70 per share.

In the currency market, the Pakistani rupee ended steady at 97.35/97.40 against the dollar, compared to Wednesday's close of 97.34/97.39.

Overnight rates in the money market ended at 6.75 percent compared to Wednesday's close of 6.50 percent. (Reuters)