Pakistani stocks end higher; rupee rates weaker
September 13, 2012 by Reuters
The Karachi Stock Exchange.—Reuters Photo
KARACHI: Pakistani stocks ended higher on Thursday after international markets rose on the back of increased commodity prices.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.18 per cent, or 28.03 points, higher at 15,306.51, on total volume of 148.85 million shares.
“The positive close today was primarily driven by rise in international commodity prices. One of the other reasons could also be that some funds have been released today from the World Bank,” said Ahsan Mehanti at Arif Habib Corp.
In the currency market, the Pakistani rupee ended slightly weaker at 94.57/94.62 to the dollar, compared to Thursday’s close of 94.52/94.58.
Overnight rates in the money market ended steady at 10.40per cent.
