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Pakistan stocks end higher, rupee steady, o/n rate rise
September 11, 2013 / 11:59 AM / 4 years ago

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

KARACHI, Sept 11 (Reuters) - Pakistan’s main stock exchange closed higher on Wednesday with the benchmark 100-share index of the Karachi Stock Exchange rising 1.04 percent or 239.51 points to 23,231.68.

Led by Pakistan Petroleum Ltd and Lucky Cement Ltd the market continues its positive trend. Stability in global equity markets after pause on Syrian strike also give confidence to market participants. dealer said

Pakistan Petroleum Ltd rose 3.9 percent to 260.50 rupees while Lucky Cement Ltd was up 3.19 percent to 264 rupees.

The rupee ended weaker at 104.75/104.80 against the dollar, compared to Tuesday’s close of 104.75/104.82.

Overnight rates in the money market rose to 8.50 percent from Tuesday’s close of 6.50 percent. (Compiled by the Karachi newsroom)

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