Pakistani stocks end higher, rupee steady

KARACHI: Pakistan’s main stock exchange closed higher on Tuesday, with the benchmark 100-share index of the Karachi Stock Exchange rising 0.68 per cent or 147.74 points to 21,980.42.

Renewed buying interest in Pakistan State Oil helped stocks while a delay in the increase in the rate of National Savings Schemes also helped investors cherry-pick, dealers said.

Pakistan State Oil Co Ltd rose 5 per cent to 275.20 rupees while the Bank of Punjab was up 4.82 per cent to 11.53 rupees.

The rupee ended steady at 105.81/105.91 against the dollar, compared to Monday’s close of 105.80/105.90.

Overnight rates in the money market fell to 9.40 per cent from Monday’s close of 9.50 per cent.