Pakistani stocks end higher; rupee strengthens; o/n rates rise

Source : REUTERS
Last Updated: Mon, Dec 09, 2013 11:51 hrs

KARACHI, Dec 9 (Reuters) - Pakistan's main stock exchange closed higher on Monday, with the benchmark 100 share index rising 0.52 percent, or 128.34 points, to 24,998.89.

After two percent or 568 points increase in the previous week, the benchmark index further gained 128 points to close at 24,999 as institutions continued to support the market.

Reports about subsidised gas supply at Engro Fertilizers kept Engro Corporation on investors' radar. Engro Corporation Ltd also topped the volume, dealers said.

The Engro Corporation Ltd rose 3.36 percent to 159.90 rupees while Nishat Mills Ltd was up 1.48 percent at 117.20 rupees.

The rupee ended at 108.13/108.18 against the dollar, compared to Friday's close of 108.32/108.38.

Overnight rates in the money market rose to 10.00 percent from Friday's close of 9.75 percent. (Compiled by the Karachi newsroom)

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