Pakistani stocks end higher; rupee weakens

Last Updated: Wed, Jan 01, 2014 13:10 hrs

KARACHI, Jan 1 (Reuters) - Pakistan's main stock exchange closed higher on Wednesday with the benchmark 100-share index of the Karachi Stock Exchange rising 1.38 percent, or 347.71 points, to 25,608.85.

Investors were buoyed by news that monthly inflation had declined by 1.3 percent and renewed interest was seen in the cement and textile stocks.

Maple Leaf Cement Factory Ltd rose 5 percent to 28.80 rupees while Nishat Mills Ltd was up 5 percent at 133.60 rupees.

The rupee weakened against the dollar to close at 105.40/105.45 compared to Tuesday's close of 105.20/105.25.

The money market was closed Wednesday due to a bank holiday so rates remained at Tuesday's close of 10.00 percent. (Compiled by the Karachi newsroom)

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