Pakistan stocks rise on Summit Bank, rupee weakens

Pakistan stocks rise on Summit Bank, rupee weakens

Last Updated: Mon, Nov 26, 2012 13:00 hrs

KARACHI, Nov 26 (Reuters) - Pakistani stocks rose towards 16,300 points on Monday, supported by a rise in shares of Summit Bank and Fauji Cement.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.20 percent, or 32.89 points, higher at 16,270.48.

Summit Bank rose 1.33 percent, or 0.04 rupees, to 3.04 per share, while Fauji Cement gained 1.15 percent, or 0.08 rupees, to 7.05 per share.

D.G. Khan Cement fell 0.3 percent, or 0.16 rupees, to 53.35 per share, while Byco Petroleum dropped 2.71 percent, or 0.29 rupees, to 10.40 per share.

In the currency market, the Pakistani rupee weakened at 96.08/96.15 to the dollar, compared to Friday's close of 96.01/96.07, pressured by upcoming debt repayments to the International Monetary Fund, a dealer said.

Overnight rates in the money market ended at 9.00 percent Friday is not available. (Compiled by the Karachi newsroom)



More from Sify: