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Pakistani stocks rise to record high, rupee steady, o/n rates rise.
November 8, 2012 / 1:22 PM / 5 years ago

Pakistani stocks rise to record high, rupee steady, o/n rates rise.

KARACHI, Nov 8 (Reuters) - Pakistani stocks closed at another record high on Thursday amid increased trading ahead of a long weekend.

Engro Foods fell 1.28 percent, or 1.03 rupees, to 79.40 per share, while Karachi Electric rose nearly 3.56 percent, 0.20 rupees, to 5.82 per share after it announced new power generating capacity.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.16 percent, or 25.26 points, higher at 16,243.27.

Intervention by the central bank in the foreign exchange market kept the dollar steady, dealers said.

In the currency market, the Pakistani rupee ended at 95.90/95.95 to the dollar, compared to Wednesday’s close of 95.90/96.96.

Overnight rates in the money market ended at 9.00 percent compared to Wednesday’s close of 7.00 percent. (Compiled by the Karachi newsroom)

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