KARACHI: Pakistani stocks closed at a record high for the second straight session on Monday, led by conglomerate Engro Corp and expectations for monetary easing.

Engro rose 5 per cent to 95.41 rupees, while Azgard Nin fell more than 2 per cent to 6.80 rupees per share.

Fatima Fertilizer eased nearly 1 per cent to 25.55 rupees.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.34 per cent, or 54.81 points, higher at 16,156.36, on total volume of 142.88 million shares.

In the currency market, the Pakistani rupee weakened ahead of scheduled repayments to the International Monetary Fund later this month. It ended at 96.12/96.18 to the dollar, compared to Friday’s close of 95.72/95.77.

Overnight rates in the money market ended at 7.50 per cent compared to Friday’s 9.00 per cent.