Business Economic Issues 

Rupee loses almost 5%, KSE-100 gains almost 1.8% in intra-day trading

KARACHI: Spurred by an almost 5% fall in the rupee’s value against the dollar, the KSE-100 Index – benchmark for market performance – climbed 776 points in intra-day trading as investors rushed to buy stocks that benefit from a weaker currency. Quite fittingly, the textile and oil sectors gained due to a direct advantage, while shares of banks got a boost due to expectations of an early interest rate hike that would come on the back of higher inflation readings. By 12:15pm, the KSE-100 Index was hovering around the 44,160…

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