Alert Sign Dear reader, online ads enable us to deliver the journalism you value. Please support us by taking a moment to turn off Adblock on

Alert Sign Dear reader, please upgrade to the latest version of IE to have a better reading experience


Pakistani stocks close at all-time high; rupee strengthens

January 29, 2013

The Karachi Stock Exchange.—File Photo

KARACHI: The Pakistani stock market closed higher on Tuesday, with buying triggered by expected healthy corporate results to be announced for December.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.98 percent, or 167.05 points, higher at 17,172.04.

Business conglomerate Engro Corporation gained 4.36 percent after the Economic Coordination Committee announced a new gas loading management plan, said dealer Samar Iqbal at Topline Securities.

Telecard Ltd was up 27.31 percent at 3.45 rupees. Fauji Cement was down 2.09 percent at 7.95 rupees while Byco Petroleum fell 1.55 percent to 13.94 rupees.

In the currency market, the rupee ended at 97.64/97.69 against the dollar, stronger than Monday’s close of 97.68/97.74.

Overnight rates in the money market were flat at 9.40 percent.