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Pakistan stocks end higher, rupee firms, o/n rate rise

Source : REUTERS
Last Updated: Thu, Jan 03, 2013 13:00 hrs

KARACHI, Jan 3 (Reuters) - Pakistani stocks closed higher on Thursday after investors bought blue chip stocks.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.60 percent, or 98.55 points, higher at 16,588.54.

"We expect the market to jump back in to a bullish tone as result season kicks in," said dealer Ovais Ahsan at JS Global Capital Ltd.

Financial services firm Jahangir Siddiqui rose 6.77 percent to 15.77 per share and Byco Petroleum was up 2.75 percent to 13.46 per share.

Engro Corp fell 0.05 percent to 88.70 per share.

In the currency market, the Pakistani rupee ended steady at 97.35/97.40 against the dollar, compared to Wednesday's close of 97.34/97.39.

Overnight rates in the money market ended at 6.75 percent compared to Wednesday's close of 6.50 percent. (Compiled by the Karachi newsroom)



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