Pakistani stocks end 2.4 pct higher; rupee flat

KARACHI, Oct 26 (Reuters) - Pakistani stocks rose on Monday after a 7 percent fall last week as investors bought shares at lower levels on hopes of strong corporate results for blue-chip companies due to be announced this week, dealers said.

The Karachi Stock Exchange's benchmark 100-share index ended 2.44 percent, or 223.65 points, higher at 9,374.50 on turnover of 156.5 million shares.

The KSE-index has gained 59.8 percent this year after losing 58.3 percent last year.

"Renewed buying interest by investors on hopes of healthy corporate results propelled the market up," said Asad Iqbal, managing director at Ismail Iqbal Securities Ltd.

Oil and Gas Development Co Ltd (OGDC.KA: Quote, Profile, Research), the heaviest weighted company, is due to announce its results for the first quarter of the financial year ending on Sept. 30 on Thursday.

It ended 4.44 percent higher at 109.15 rupees.

However, dealers said turnover was low as investors were cautious because of fears of militant attacks.

The KSE-index shed 7 percent last week amid worsening security as the army battled militants in the northwest and the militants retaliated with bomb attacks.

In the currency market, the rupee ended the day at 83.30/39 to the dollar, compared with Saturday's close of 83.31/37.