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Pakistani stocks end higher; rupee strengthens; o/n rates rise

Published Oct 10, 2012 01:48pm

The Karachi Stock Exchange.—Reuters Photo

KARACHI: Pakistani stocks closed higher on Wednesday with increased buying in major markets, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.42 per cent, or 65.58 points, higher at 15,753.82 on total volume of 132.83 million shares.

“The market was a bit volatile today. It closed higher because of buying interest in fast moving consumer goods and financials,” said Suleman Maniya at Al-Meezan Investments.

In the currency market, the Pakistani rupee ended stronger at 95.43/95.63 compared to Tuesday’s close of 95.50/95.56 to the dollar.

Overnight rates in the money market ended higher at 9.90 per cent compared to Tuesday’s 50 per cent.