A stockbroker talks on his mobile during a trading session inside the trading hall of the Karachi Stock Exchange – File photo by Reuters
A stockbroker talks on his mobile during a trading session inside the trading hall of the Karachi Stock Exchange – File photo by Reuters

KARACHI: Pakistani stocks closed higher on Tuesday as investors increased buying amidst optimism over upcoming September quarter earning announcements, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.23 per cent, or 36.23 points, higher at 15,688.24 on total volume of 110.96 million shares.

“Near the close of the session, renewed buying interest in select stocks helped index to close 36 points up,” said Samar Iqbal at Topline Securities.

“Amid better expectations for September quarter earnings, cement stocks were in the limelight.”

In the currency market, the Pakistani rupee ended weaker at 95.50/95.56 compared to Monday’s close of 95.46/95.52 to the dollar.

Overnight rates in the money market ended lower at 8.50 per cent compared to Monday’s 9.50 per cent.

Updated Oct 09, 2012 02:59pm

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Cyrus Howell
Oct 09, 2012 03:29pm
Stocks up. Rupees down. Buy stock. Don't hold the rupee.
Sam
Oct 09, 2012 10:43pm
Pakistani economy is collapsing.Everyday there are target killings and bombings.There is no law then I am still confused that why investors are so much optimistic in Pakistani stock exchange?
Khano from UK
Oct 10, 2012 09:37am
I assume it is a game of attracting investors, once the money is invested and in their hands, the share prices will drop and the investor would end up losing. Only time will tell if the assumption is correct.