BISINISS WORLD NEWS

 KARACHI: The Karachi Stock Exchange's benchmark 100-share index (KSE-100) ended almost flat on Thursday as investors booked gains on higher levels and dealers said the market's direction would be determined by foreign inflows.

KSE-100 ended 0.10 percent higher, or 10.56 points, at 10,533.57. The index touched an intraday high of 10,594.39 points.

Volume was 244.15 million shares, compared to 299.5 million shares traded Wednesday.

"The market took a breather today," said Asad Iqbal, chief investment officer at Faysal Asset Management.

"Future movement will be a function of foreign flows."

According to official data, foreigners bought shares worth a net $5.87 million on Wednesday, bringing the total to $31.84 million this month.

However dealers said foreign activity was limited compared to previous days, which led to local investors booking profits at higher levels.

Net foreign portfolio inflows stood at $113 million in March -- the second highest monthly inflow ever, after inflows of $127 million in September last year.