Pakistani stocks end higher; rupee strengthens

KARACHI: Pakistan’s main stock exchange closed higher on Friday, with the benchmark 100-share index of the Karachi Stock Exchange rising 0.19 per cent, or 49.70 points to 26,892.23.


Overall consolidation was seen in the market while profit taking was seen in oil exploration companies and cement stocks, dealer Samar Iqbal at Topline Securities said.

DG Khan Cement Co Ltd fell 2.03 per cent to 90.25 rupees while Pakistan State Oil Co Ltd was up 2.16 per cent to 395.76 rupees.

The rupee ended higher at 102.85/102.95 against the dollar compared to Thursday’s close of 103.30/103.35.

Overnight rates in the money market rose to 9.90 per cent fromThursday’s close of 9.00 per cent.