Pakistan stocks end higher, rupee weakens, o/n rate flat
KARACHI: Pakistan's main stock exchange closed higher on Tuesday, with the benchmark 100-share index of the Karachi Stock Exchange rising 0.67 per cent, or 153.33 points, to 22,992.17.
Mainly supported by the cement sector, the market continued its rally, with investor sentiment boosted by hopes of no interest rate change in the upcoming monetary policy and an upsurge in regional markets.
An expected increase in cement bag prices has brought renewed buying interest in cement stocks, dealers said.
DG Khan Cement Co Ltd rose 4.16 per cent to 80.80 rupees while Lucky Cement Ltd was up 5 per cent to 255.84 rupees.
The rupee ended weaker at 104.75/104.82 against the dollar compared to Monday’s close of 104.66/104.76.
Overnight rates in the money market remained flat at 6.50 per cent.
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