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Pakistani stocks end higher; rupee weakens; o/n rates fall

October 23, 2012

The Karachi Stock Exchange.—Reuters Photo

KARACHI: Pakistani stocks closed higher on Tuesday as expectations of announcements of healthy earnings gave the market a boost, traders said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.03 per cent, or 5.21 points, higher at 15,853.84, on total volume of 103.27 million shares.

In the currency market, the Pakistani rupee ended at 95.53/95.58 to the dollar, compared to Monday’s close of 95.42/95.47.

Overnight rates in the money market ended at 7.50 per cent compared to Monday’s 10 per cent.