KARACHI: Pakistan’s stock market closed at a new high on Monday, driven by expectations of strong corporate earnings, traders said.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.38 per cent, or 68.39 points, higher at 17,865.61.

Pakistan Telecommunication Corporation rose 3.42 per cent to 22.70 rupees and D.G. Khan Cement climbed 4.99 per cent to 60.78 rupees. Engro Corporation rose 5.0 per cent to 99.10 rupees.

In the currency market, the rupee ended weaker at 98.10/98.15 against the dollar, compared to Friday's close of 98.04/98.09.

Overnight rates in the money market fell to 7.50 percent compared to Friday’s close of 8.50 percent.