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Pakistan stocks rise, rupee firms, o/n rates flat

Source : REUTERS
Last Updated: Mon, Dec 24, 2012 13:00 hrs

KARACHI, Dec 24 (Reuters) - Pakistani stocks closed higher on Monday as there was higher institutional support in index heavyweight stocks.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.16 percent, or 26.60 points, higher at 16,891.94.

"TRG remained the volume leader. Interestingly Engro Foods due to some institutional support closed 5% up," said dealer Samar Iqbal at Topline Securities.

Stocks that ended positively included TRG Pakistan , which rose 4.16 percent, or 0.24 rupees, to 6.01 per share and Engro Foods, which was up 5 percent, or 4.59 rupees, to 96.48 per share.

Stocks that fell included Dewan Cement, down 3.27 percent to 5.03 per share, and D.G.Khan Cement, which fell 0.39 percent to 54.25 per share.

In the currency market, the Pakistani rupee ended at 97.48/97.55 against the dollar, compared to Friday's close of 97.49/97.54.

Overnight rates in the money market remained flat at 9.40 percent. (Compiled by the Karachi newsroom)




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