Pakistan stocks close higher, rupee steady, o/n flat

Last Updated: Tue, Jun 11, 2013 12:50 hrs

KARACHI, June 11 (Reuters) - Pakistan's stocks closed higher on Tuesday as the market witnessed some profit taking and selling pressure in oil and fertiliser stocks before the announcement of the federal budget.

Heavy-weight Oil and Gas Development Co Ltd also supported the index by contributing 27 points to the total gain, dealers said.

The Karachi Stock Exchange's benchmark 100-share index closed 0.26 percent, or 58.33 points, higher at 22,209.07.

The Oil and Gas Development Co Ltd rose 1.27 percent at 245 rupees, while Engro Foods Ltd was down 2.21 percent at 140 rupees.

The rupee ended steady at 98.50/98.55 against the dollar. Overnight rates in the money market remained flat at 9.40 percent. (Compiled by the Karachi newsroom)

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