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Pakistan stocks close higher, rupee firm, o/n rates flat

Source : REUTERS
Last Updated: Tue, Apr 09, 2013 12:00 hrs

KARACHI, April 9 (Reuters) - Pakistani stocks closed higher on Tuesday, driven by optimism over quarterly results, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.32 percent, or 60.55 points, higher at 18,713.61 points.

"The market closed above (the) 18,700 points mark on optimism about healthy March quarter results," said Samar Iqbal, a trader at Topline Securities.

"Renewed buying interest was seen in Engro Corp amid hopes of additional gas supply. While cherry picking was also witnessed in telecom and cement stocks."

Engro Corporation Ltd rose 4.15 percent to 141.95 rupees while Wateen Telecom Ltd was up 2.53 percent to 4.46 rupees.

In the currency market, the rupee ended at 98.35/98.40 against the dollar, stronger than Monday's close of 98.37/98.42. Overnight rates in the money market were flat at 9.40 percent. (Compiled by the Karachi newsroom)



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