Pakistani stocks close higher, rupee weakens

Published Feb 28, 2013 02:13pm

A stockbroker at the Karachi Stock Exchange.—File Photo

KARACHI: Pakistan’s stock market closed higher on Thursday, supported by Muslim Commercial Bank and Engro Corporation, traders said.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.51 per cent, or 92.77 points, higher at 18,173.67.

Food and fertilizer company Engro Corporation rose 3.51 per cent to 121 rupees, while Muslim Commercial Bank was up 5 per cent to 235.41 rupees.

In the currency market, the rupee ended weaker, at 98.14/98.19 against the dollar, compared to Wednesday's close of 98.09/98.14.

Overnight rates in the money market remained flat at 9.40 per cent.

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