KSE ends flat after crossing key barrier

KARACHI: Karachi stocks ended almost flat on Friday, initially buoyed by mid-tier stock buys on hopes of healthy corporate profits but were later dragged down when the index crossed 14,000 points, a key psychological line, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.05 percent, or 7.01 points, higher at 13,936.48.

Volume was 244.2 million shares, compared with 182.59 million shares traded on Thursday.

"The market once again failed to close above 14,000 ... as investors remained cautious," said a dealer.

The KSE-index hit an intra-day high of 14,061.05 points.

Amongst the most active companies, Engro Polymer ended 2.5 percent higher at 13.14 rupees, Pakistan Telecommunication Co Ltd closed 4.75 percent higher at 13.90 rupees and Jahangir Siddiqui fell 3.66 percent to close at 18.14 rupees. (Reuters)