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

Source : REUTERS
Last Updated: Fri, Jan 04, 2013 18:40 hrs

KARACHI, Jan 4 (Reuters) - Pakistani stocks closed higher on Friday amid renewed buying interest in banking stocks.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.36 percent, or 60.30 points, higher at 16,648.84.

Byco Petroleum was up 3.14 percent to 13.80 per share and United Bank Ltd rose 0.84 percent to 82.50 per share.

Fauji Bin Qasim fell 0.23 percent to 38.50 per share while D.G. Khan Cement was down 0.3 percent to 52.85 per share.

In the currency market, the Pakistani rupee ended weaker at 97.42/97.47 against the dollar, compared to Thursday's close of 97.35/97.40.

Overnight rates in the money market rose, ending at 9.25 percent compared to Thursday's close of 6.75 percent. (Compiled by the Karachi newsroom)



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