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

October 15, 2012


A stockbroker on the floor of the Karachi Stock Exchange.—Reuters Photo

KARACHI: Pakistani stocks closed slightly higher on Monday but investors were mostly waiting for upcoming earnings announcements, traders said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.31 per cent, or 48.54 points, higher at 15,756.90 on total volume of 81.796 m illion shares.

“The market recovered slightly today but overall the volume was down because the market are waiting for some positive earnings figures,” said Mohammed Sohail at Topline Securities.

“There was some activity in cement stocks.”

In the currency market, the Pakistani rupee ended slightly stronger at 95.34/95.38 compared to Friday’s close of 95.48/95.68 to the dollar.

Overnight rates in the money market closed at 8.00 per cent compared to Friday’s 7.00 per cent.