Pakistani stocks close higher; rupee firms
KARACHI: The Pakistani stock market closed higher on Wednesday with higher volume in telecoms on expectations of stronger earnings in the last quarter.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.19 percent, or 33.23 points, higher at 17,205.27.
Telecard Ltd was up 16.62 percent at 4 rupees. Pakistan Telecommunication Corporation Ltd rose 5.64 percent to 18.72 rupees.
In the currency market, the rupee ended steady at 97.64/97.69 against the dollar, compared to Tuesday’s close of 97.64/97.69.
Overnight rates in the money market were flat at 9.40 percent.