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Pakistan stocks close higher, rupee firm, o/n rates rise

Source : REUTERS
Last Updated: Fri, Feb 01, 2013 12:50 hrs

KARACHI, Feb 1 (Reuters) - Pakistan's main stock index managed to hit a record high despite law and order concerns after attacks in Karachi and in the northwest.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.14 percent, or 23.49 points, higher at 17,266.23.

But volume fell 50 percent to 142 million shares, with activity focused on mid-cap stocks such as Maple Leaf Cement which rose 5.34 percent to 17.96 rupees.

Byco Petroleum rose 2.08 percent to 14.23 rupees and Fauji Cement fell 0.13 percent to 8 rupees.

In the currency market, the rupee ended steady at 97.70/97.75 against the dollar, compared to Thursday's close of 97.70/97.76.

Overnight rates in the money market rose to 9 percent compared to Thursday's close of 6.50 percent. (Compiled by the Karachi newsroom)




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