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Pakistan stocks close higher, rupee weakens, o/n rates fall

Source : REUTERS
Last Updated: Tue, Mar 19, 2013 12:50 hrs

KARACHI, March 19 (Reuters) - Pakistan's stock market closed higher on Tuesday, boosted by higher volumes and a recovery in the banking sector, dealers said.

Karachi Stock Exchange's (KSE) benchmark 100-share index ended 1.15 percent, or 201.37 points, higher at 17,693.37 points.

Strong cotton prices supported the textile sector, said Samar Iqbal at Topline Securities.

Muslim Commercial Bank Ltd rose 3.14 percent to 188.75 rupees while Nishat Mills Ltd was up 4.99 percent to 81.99 rupees.

In the currency market, the rupee ended weaker at 98.13/98.18 against the dollar, compared to Monday's close of 98.10/98.16

Overnight rates in the money market fell to 9 percent from Monday's close of 9.25 percent. (Compiled by the Karachi newsroom)



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