KARACHI, Jan 11 (Reuters) - Pakistani stocks closed higher
on Friday market after traders learnt the main political party
in the financial hub of Karachi decided not to participate in a
political protest next week.
The Karachi Stock Exchange's (KSE) benchmark
100-share index ended 0.63 percent, or 104.79 points, higher at
Cement stocks remained popular amid the expectation of
better results announcements, said dealer Samar Iqbal at Topline
Fauji Cement was up 4.49 percent to 6.75 per share
while Engro Foods rose 1.77 percent to 96.37 per
Pakistan Telecommunication Corporation Ltd fell
0.79 percent to 16.26 per share and Fauji Bin Qasim
was down 0.67 percent to 38.50 per share.
In the currency market, the Pakistani rupee ended
steady at 97.26/97.32 against the dollar, compared to Thursday's
close of 97.27/97.32.
Overnight rates in the money market ended at 9 percent
compared to Thursday's close of 9.40 percent.
(Compiled by the Karachi newsroom)