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

Last Updated: Sat, Jan 19, 2013 06:22 hrs

KARACHI, Jan 17 (Reuters) - The Pakistani stock market closed higher on Thursday as the market steadied amid news that the major political parties had reached consensus on election related issues and a government delegation met a cleric leading a protest in the capital.

Mid cap stocks remained active. The greatest volumes of trade occurred in Fauji Cement stocks, followed by finance firm Jahangir Siddiqui and Byco Petroleum, said dealer Samar Iqbal at Topline Securities.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.68 percent, or 109.62 points, higher at 16,291.09.

Fauji Cement rose 2.37 percent to 6.90 rupees per share while Byco Petroleum was up 3 percent to 13.37 rupees per share.

D.G. Khan Cement dropped 0.74 percent to 51 rupees per share and Lucky Cement fell 0.22 percent to 146.60 rupees per share.

In the currency market, the Pakistani rupee ended steady at 97.58/97.65 against the dollar, compared to Wednesday's close of 97.58/97.64.

Overnight rates in the money market remained flat at 9.40 percent. (Compiled by the Karachi newsroom)

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