Pakistani stocks end higher; rupee weakens
KARACHI: Pakistan’s main stock exchange closed higher on Tuesday, with the benchmark 100-share index rising 1.84 per cent, or 412.87 points, to 22,790.70.
Renewed buying interest in oil stocks like Oil and Gas Development Co Ltd and Pakistan Petroleum helped the index gain 150 points, dealers said.
Oil and Gas Development Co Ltd rose 2.82 per cent to 265.50 rupees while Pakistan Petroleum Ltd was up 3.31 per cent at 207.40 rupees.
The rupee ended weaker at 107.23/107.28 against the dollar, compared with Monday’s close of 106.98/107.05.
Overnight rates in the money market rose to 8.50 per cent from Monday’s close of 8.25 per cent.
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