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

Source : REUTERS
Last Updated: Wed, Apr 03, 2013 12:10 hrs

KARACHI, April 3 (Reuters) - Pakistan's stock market scored gains for a third consecutive day on Wednesday, closing at a new high, with cement and oil stocks providing a boost, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 1.25 percent, or 230.14 points, higher at 18,575.88 points.

"Pre-result euphoria kept investors interested in cement and oil sectors," said Samar Iqbal, a trader at Topline Securities.

Oil and Gas Development Company Ltd rose 1.01 percent to 205 rupees while Engro Foods Ltd was up 5 percent to 137.39 rupees.

In the currency market, the rupee ended steady at 98.29/98.34 against the dollar. Overnight rates in the money market rose to 9.40 percent from Tuesday's close of 9.25 percent. (Compiled by the Karachi newsroom)

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