KARACHI, Jan 24 (Reuters) - The Pakistani stock market
closed higher on Thursday, driven by institutional buying and
strong corporate results, traders said.
The Karachi Stock Exchange's (KSE) benchmark
100-share index ended 0.87 percent, or 147.69 points, higher at
"Finally (the) Karachi bourse managed to close above (the)
psychological mark of 17,000," said Samar Iqbal, a dealer at
"Institutional buying and good corporate results helped
equity prices to improve by approximately 1 percent."
Cement stocks performed well. Fauji Cement rose
3.88 percent to 7.77 rupees per share.
In the currency market, the Pakistani rupee ended
steady at 97.68/97.74 against the dollar, compared to
Wednesday's close of 97.68/97.73.
Overnight rates in the money market ended at 9.50 percent
compared to Wednesday's close of 9 percent.
(Compiled by the Karachi newsroom)