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Stocks end higher; rupee steady

Karachi: Pakistan's main stock exchange closed higher on Wednesday, with the benchmark 100-share index of the Karachi Stock Exchange rising 0.31 per cent, or 81.51 points, to 26,341.08.

Led by news flow of Engro’s gas issues being discussed at the ECC today, initially interest was seen in the stock. However, Engro Corporation saw profit taking in the final hours of the day.

Selective profit taking was also seen in the cement sector, said Asad Siddiqui at Topline Securities.

Engro Corporation Ltd fell 1.17 per cent to 168.10 rupees while D.G. Khan Cement Ltd was down 0.51 per cent to 91.56 rupees.

The rupee ended against the dollar to close at 105.47/105.52 compared to Tuesday's close of 105.49/105.54.

Overnight rates in the money market remained flat at 10.00 per cent.

Source: Reuters

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