The Karachi Stock Exchange
The Karachi Stock Exchange's benchmark 100-index crossed the 19,000 points landmark for the first time on Thursday, after a speech Pakistani Army chief Kayani assured investors that the May 11 election would be held on time.—Reuters/File Photo

KARACHI: The Pakistani stock market closed higher on Friday ahead of crucial elections that should mark the first transfer of power from one democratically elected government to another.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 1.01 percent, or 192.10 points, higher at 19,226.63 points.

Foreign flows had a positive impact on the market. Pakistani investors focused on large cap stocks like Pakistan State Oil and Engro Corporation Ltd., dealers said.

Pakistan State Oil Company Ltd. rose 1.11 percent to 204.37 rupees and Engro Corporation was up 0.97 percent to 133.30 rupees.

In the currency market, the rupee ended at 98.25/98.30 against the dollar, stronger than Thursday's close of 98.34/98.40.

Overnight rates in the money market rose to 9.50 percent from Thursday's close of 9 percent.

Updated May 03, 2013 08:39pm

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