KARACHI, Feb 13 (Reuters) - Pakistan's stock market closed
higher on Wednesday, led by interest in telecoms and the energy
The Karachi Stock Exchange's (KSE) benchmark
100-share index ended 0.48 percent, or 85.05 points, higher at
Pakistan Telecommunication Corporation Ltd. saw 45 million
shares traded as it announced its December quarter earnings, the
company's first profit in two years.
Some institutional interest in Oil and Gas Development
Company stocks pushed the price of shares in the state-run
company above 200 rupees per share for the first time.
Stocks in Sui Northern Gas Company also rallied after it
announced positive results, said dealer Samar Iqbal at Topline
Pakistan Telecommunication Corporation rose 1.96
percent to 20.30 rupees and Oil & Gas Development Company
. gained 1.86 percent to hit 202.25 rupees.
In the currency market, the rupee ended steady at
98.05/98.10 against the dollar, compared to Tuesday's close of
98.06/98.11. The rupee had come under pressure after Pakistan
made a $145 million payment to the IMF, dealers said.
Overnight rates in the money market fall to 9 percent
compared to Tuesday's close of 9.40 percent.
(Compiled by the Karachi newsroom)