Pakistan stocks end higher, rupee weakens, o/n rate fall

Source : REUTERS
Last Updated: Thu, Oct 24, 2013 13:00 hrs

KARACHI, Pakistan Oct 24 (Reuters) - Pakistan's main stock exchange closed higher on Thursday, with the benchmark 100-share index of the Karachi Stock Exchange rising 0.06 percent or 13.56 points to 22,360.85.

In spite of huge foreign inflows the market took a breather after rising by 3.5 percent in the last few trading sessions as investors opted to book some profits, traders said.

Pakistan State Oil Co Ltd saw selling pressure amid news of increased circular debt, they added.

Oil and Gas Development Co Ltd rose 3.21 percent to 254.95 rupees while Pakistan State Oil Co Ltd was down 2.98 percent to 267.10 rupees

The rupee ended weaker 106.44/106.49 against the dollar, compared to Wednesday's close of 106.41/106.46.

Overnight rates in the money market fell to 7.00 percent from Wednesday's close of 9.40 percent. (Compiled by the Karachi newsroom)




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