Pakistan stocks end higher, rupee steady, o/n rate fall

KARACHI: Pakistan’s main stock exchange closed higher on Tuesday, buoyed by interest in telecommunications shares.

The benchmark 100-share index of the Karachi Stock Exchange rose 0.11 per cent or 25.46 points to 23,683.27.

Pakistan Telecommunication Co Ltd rose 4.44 per cent to 27.99 rupees while Faysal Bank Ltd was down 2.24 per cent at 12.20 rupees.

The rupee ended steady at 100.66/100.70 against the dollar, compared to Monday’s close of 100.67/100.72.

Overnight rates on the money market fell to 7.50 per cent from Monday’s close of 8.50 per cent.