The Karachi Stock Exchange.—Reuters (File Photo)

KARACHI: Pakistan’s stock market closed higher on Tuesday in a rally led by the banking sector, traders said.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.36 percent, or 62.86 points, higher at 17,611.40.

National Bank of Pakistan climbed by 4.29 percent to 53.51 rupees and Muslim Commercial Bank gained 1.13 percent to hit 213.49 rupees.

In the currency market, the rupee ended weaker at 98.06/98.11 against the dollar, compared to Monday's close of 97.96/98.01. The rupee had come under pressure after Pakistan made a $145 million payment to the IMF, dealers said.

Overnight rates in the money market rose to 9.40 percent compared to Monday's close of 9.25 percent.

More From This Section

3G, 4G may triple internet cost for users

Post-paid and corporate customers are expected to be offered next-generation services first.

IMF not satisfied with bill on ‘SBP autonomy’

IMF is expected to take up the issue with Pakistan during third quarterly review of the $6.78 billion bailout package.

Investors fearful of intervention: Dr Ishrat

Fear of suo motu intervention by SC, high courts in financial transactions had helped elevate Pakistan's risk profile.

Sindh millers raise flour prices

The rate of flour has been raised to Rs38 per kg from Rs37 per kg, and the prices may go up further in the coming days.


Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Poll
From The Newspaper
Tweets