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Pakistani stocks close higher, rupee steady

April 17, 2013

The Karachi Stock Exchange.—Reuters/File Photo

KARACHI: Pakistani stocks closed higher on Wednesday after a steep fall of more than 350 points in the last two sessions, with renewed buying in Maple Leaf Cement and Engro helping the recovery, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.18 per cent, or 32.25 points, higher at 18,394.12 points.

Maple Leaf Cement Factory Ltd was up 5.75 percent to 18.39 rupees while Engro climbed five per cent to 135.40 rupees.

Pakistan Telecommunication Co Ltd fell 3.76 per cent to 18.45 rupees.

In the currency market, the rupee ended almost steady at 98.34/98.39 against the dollar. Overnight rates in the money market remained flat at 9.40 per cent.