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Pakistan stocks rise, rupee strengthens, o/n rates fall

Source : REUTERS
Last Updated: Fri, Dec 28, 2012 13:10 hrs

KARACHI, Dec 28 (Reuters) - Pakistani stocks closed higher on Friday as traders showed interest in stocks from energy companies.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.30 percent, or 50.87 points, higher at 16,943.19.

Stocks that ended positively included Byco Petroleum , which rose 5.22 percent, or 0.69 rupee, to 13.91 per share and Askari Bank, which was up 3.58 percent, or 0.60 rupees, to 17.35 per share.

Stocks that fell included TRG Pakistan, down 2.4 percent to 5.70 per share, and Engro Corp, which fell 1.03 percent to 91.00 per share.

In the currency market, the Pakistani rupee strengthened, ending at 97.17/97.23 against the dollar, compared to Thursday's close of 97.45/97.50.

Overnight rates in the money market ended at 7 percent compared to Thursday's close of 8.75 percent. (Compiled by the Karachi newsroom)




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