Pakistani stocks close higher, rupee weakens

Published Apr 23, 2013 10:00pm

The Karachi Stock Exchange.—Reuters/File Photo

KARACHI: Pakistani stocks closed higher on Tuesday, following better results announcements from companies and renewed buying interest in Engro Corporation stocks. 

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.22 per cent, or 41.74 points, higher at 18,647.29 points.

United Bank Ltd and Pakistan State Oil were among the companies that announced strong results.

Engro Corporation Ltd rose 4.91 per cent to 136.99 rupees.

In the currency market, the rupee ended weaker at 98.36/98.42 against the dollar compared to Monday’s close of 98.32/98.37.

Overnight rates in the money market remained flat at 9.50 per cent.

More From This Section

Facing uncertain times

The power company would be less vulnerable to rising circular debt because of its ability to pass on incremental debt

Comments (0) (Closed)