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Pakistan stocks close higher, rupee steady, o/n rates rise

Source : REUTERS
Last Updated: Thu, Mar 21, 2013 12:40 hrs

KARACHI, March 21 (Reuters) - Pakistan's stock market closed higher on Thursday, with continuous support from local and foreign Investors keeping the market up.

Renewed buying interest was seen in cement stocks amid hopes of better results in the March quarter.

Heavy weight Oil and Gas Development Company Ltd and Engro Corporation also remained on the investors' radar, dealer Samar Iqbal at Topline Securities said.

Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.90 percent, or 159.65 points, higher at 17,913.62 points.

Engro Corporation rose 3.31 percent to 130.80 rupees and Oil and Gas Development Company Ltd rose 1.96 percent to 204 rupees.

In the currency market, the rupee ended steady at 98.15/98.21 against the dollar, compared to Wednesday's close of 98.15/98.20

Overnight rates in the money market rose to 9.10 percent from Thursday's close of 9 percent.

(Compiled by the Karachi newsroom)



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