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Pakistani stocks close higher, rupee weakens

April 08, 2013

The Karachi Stock Exchange.—Reuters/File Photo

KARACHI: Pakistan's stocks closed higher on Monday in lackluster trade as investors trimmed their positions in the banking sector, dealers said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.09 per cent, or 17.03 points, higher at 18,653.06 points.

Bank Islami Pakistan Ltd fell 5.41 per cent to 6.30 rupees while Muslim Commercial Bank was down 1.32 per cent to 195 rupees.

In the currency market, the rupee ended weaker at 98.37/98.42 against the dollar, compared to Friday's close of 98.30/98.35.

Overnight rates in the money market remained flat at 9.40 per cent.