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Pakistan stocks ends higher, rupee, O/N rates flat

Source : REUTERS
Last Updated: Mon, Jul 01, 2013 13:20 hrs

KARACHI, July 1 (Reuters) - Pakistan's main stock exchange closed higher on Monday amid interest in cement stocks and hopes of a deal with the IMF.

The benchmark 100-share index of the Karachi Stock Exchange was up 1.70 percent or 357.47 points to 21,363.16.

"Volumes remained low but investors were interested in cement stocks in expectations of better results for the period end June 2013," dealer Samar Iqbal of Topline Securities said.

D.G. Khan Cement Co Ltd was up 2.76 percent to 86 rupees.

Lower than expected inflation figures and the possibility of Pakistan successfully concluding ongoing talks with the IMF for a new loan also boosted investors' sentiments.

There was no changes in the money market or rupee exchange rates since Monday was a bank holiday.

The rupee closed at 99.40/99.50 on Friday.

Overnight rates in the money market closed at 9 percent on Friday. (Compiled by the Karachi newsroom)




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