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Pakistani stocks close higher, rupee strengthens


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The Karachi Stock Exchange.—File Photo

KARACHI: Pakistani stocks closed higher on Wednesday, driven by interest in telecommunications stocks, traders said.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.05 per cent, or 9.74 points, higher at 18,723.35 points.

Engro Corporation Ltd fell 0.7 percent to 141.07 rupees Pakistan Telecommunication Company Ltd was up 0.61 per cent to 21.50 rupees.

In the currency market, the rupee ended at 98.30/98.35 against the dollar, stronger than Tuesday’s close of 98.35/98.40.

Overnight rates in the money market rose to 9.50 per cent from Tuesday’s close of 9.40 per cent.

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