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

Source : REUTERS
Last Updated: Thu, Apr 25, 2013 14:40 hrs

KARACHI, April 25 (Reuters) - Pakistani stocks closed at a recrod high on Thursday, after better than expected March quarterly results were announced.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.56 percent, or 105.94 points, higher at 18,885.60 points.

Cement stocks were strong after positive announcements from Maple Leaf Cement and Fecto Cement. Hub Power Company Ltd and Oil and Gas Development Company Ltd also announced healthy results, said dealer Samar Iqbal at Topline Securities.

Maple Leaf Cement rose 3.45 percent to 19.50 rupees and Hub Power Company Ltd was up 1.51 percent to 54.50 rupees.

In the currency market, the rupee ended weaker at 98.40/98.45 against the dollar compared to Wednesday's close of 98.38/98.43.

Overnight rates in the money market remained flat at 9.40 percent. (Compiled by the Karach newsroom)




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