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Pakistani stocks end higher; rupee weakens; o/n rates fall

Source : REUTERS
Last Updated: Mon, Jan 20, 2014 12:10 hrs

KARACHI, Jan 20 (Reuters) - Pakistan's main stock exchange closed higher on Monday with the benchmark 100-share index of the Karachi Stock Exchange rising 0.32 percent, or 87.10 points, to 27,000.95.

Investors took keen interest at the bourse after the State Bank of Pakistan decided to keep the policy rate unchanged in its latest Monetary Policy Statement.

Engro Corporation remained high on the investor radar as it had closed on the upper cap while banking sector scrips remained mixed due to lack of change in the discount rate, said Asad Siddiqui at Topline Securities.

Engro Corporation rose 5 percent to 188.56 rupees and National Bank of Pakistan was down 1.16 percent to 58.19 rupees.

The rupee ended weaker at 105.40/105.46 against the dollar compared to Friday's close of 105.30/105.35.

Overnight rates in the money market fell to 9.50 percent from Friday's close of 9.75 percent. (Compiled by the Karachi newsroom)




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