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

Last Updated: Fri, Mar 22, 2013 13:07 hrs

KARACHI, March 22 (Reuters) - Pakistan's stock market closed higher on Friday, with interest focused on cement and fertilizer companies, traders said.

Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.28 percent, or 49.49 points, higher at 17,963.11 points.

Trading was thin while investors waited for the formation of a caretaker government ahead of elections on May 11, dealers said.

D.G.Khan Cement rose 0.57 percent to 69.35 rupees and Wateen Telecom Ltd rose 12.46 percent to 3.61 rupees.

In the currency market, the rupee ended almost steady at 98.17/98.22 against the dollar.

Overnight rates in the money market rose to 9.40 percent from Thursday's close of 9.10 percent. (Compiled by the Karachi newsroom)

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