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Pakistani stocks end higher; rupee, overnight rates flat

September 07, 2012


Traders on the floor of the Karachi Stock Exchange.—Reuters Photo

KARACHI: Pakistani stocks ended higher on Friday, driven by a strong performance in the telecommunications sector, traders said.

The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.43 per cent, or 65.42 points, higher at 15,253.95, on total volume of 227.19 million shares.

“Once again, volume skewed towards the telecommunications sector as it contributed over 45 per cent of the volume traded,” said Samar Iqbal, a dealer at Topline Securities.

In the currency market, the Pakistani rupee ended steady at 94.65/94.70 to the dollar, compared to Thursday’s close of 94.62/94.67.

Overnight rates in the money market ended flat at 10.40 per cent.