Pakistan stocks close higher, rupee weakens, o/n rates fall

KARACHI, Feb 18 (Reuters) - Pakistan's stock market closed at a new high on Monday, driven by expectations of strong corporate earnings, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.38 percent, or 68.39 points, higher at 17,865.61.

Pakistan Telecommunication Corporation rose 3.42 percent to 22.70 rupees and D.G. Khan Cement climbed 4.99 percent to 60.78 rupees. Engro Corporation rose 5.0 percent to 99.10 rupees.

In the currency market, the rupee ended weaker at 98.10/98.15 against the dollar, compared to Friday's close of 98.04/98.09.

Overnight rates in the money market fell to 7.50 percent compared to Friday's close of 8.50 percent. (Compiled by the Karachi newsroom)