KARACHI, July 8 (Reuters) - Pakistan's stock exchange closed
higher on Monday, with the benchmark 100-share index of the
Karachi Stock Exchange up 0.84 percent or 187.38 points at
Positive statements by rating agency Moody's helped the index
to post a gain of approximately one percent. Institutional
buying in Engro Corporation Ltd and Pakistan Telecommunication
Co Ltd led the index as stocks of both closed at the upper
limit, dealers said.
Pakistan Telecommunication Co Ltd rose 4.99
percent to 26.32 rupees while Engro Corporation Ltd
was up 5 percent to 147.52 rupees.
In the currency market, the rupee ended steady at
99.98/100.03 against the dollar, compared to Friday's close of
Overnight rates in the money market rose to 9 percent from
Friday's close of 8.75 percent.
(Compiled by the Karachi newsroom)