Pakistan Stock Index Surges Most in Six Years on Support Plan: Bloomberg

By Farhan Sharif and Katherine Espina

June 24 (Bloomberg) -- Pakistan's benchmark stock index rose the most in six years after the Karachi exchange curbed the amount equities can decline, banned short selling and announced a planned fund to halt slumping prices.

The Karachi Stock Exchange 100 Index rose 8.6 percent at the close, the biggest climb since May 24, 2002. The exchange will limit share declines to 1 percent a day from 5 percent, and double the cap on increases to 10 percent. More than 30 of the measure's 100 stocks rose by the maximum, led by Oil & Gas Development Co., and 78 exceeded the earlier limit.

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