KARACHI, May 20 (Reuters) - Pakistan's stocks closed higher
on Monday, with the market closing above the high 20,800 point
mark, led by foreign buying in large caps.
Newspaper reports of the early resolution of circular debt
helped Pakistan State Oil Company Ltd close at its upper cap.
The heavy weight Oil and Gas Development Company Ltd also
rallied and closed 5 percent higher, dealers said.
The Karachi Stock Exchange's (KSE) benchmark
100-share index ended 1.35 percent, or 277.11 points, higher at
The Oil and Gas Development Company Ltd rose 5
percent to 220.65 rupees and Pakistan State Oil Company Ltd
was up 5 percent at 256.49 rupees.
In the currency market, the rupee ended at
98.39/98.45 against the dollar, stronger than Friday's close of
Overnight rates in the money market remained flat at 9.40
(Compiled by the Karachi newsroom)