Pakistani stocks end higher; rupee weakens, o/n rates rise

Written by Reuters | Karachi | Updated: Apr 23 2014, 02:27am hrs
Pakistan's main stock exchange closed higher on Tuesday, with the benchmark 100-share index of the Karachi Stock Exchange rising 1.08 percent, or 313.07 points to 29,191.84.

Renewed interest in banking, cements and oil stocks helped market to rebound by one percent post Easter holidays, dealer said.

Muslim Commercial Bank Ltd rose 2.11 percent to 284.70 rupees and Maple Leaf Cement Factory Ltd was up 1.91 percent to 30.99 rupees.

The rupee ended weaker at 98.05/98.09 against the dollar compared to Monday's close of 97.50/97.55.

Overnight rates in the money market rose to 9.50 percent from Monday's close of 8.25 percent.