Pakistan stocks close higher, rupee firm

KARACHI: Pakistan’s stock market closed higher, driven mainly by the telecommunications sector, dealers said.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.53 percent, or 95.55 points, higher at 18,043.31 points.
Oil and Gas Development Company Ltd. rose 0.76 percent to 204 rupees and Wateen Telecom Ltd. rose 10.16 percent to 4.23 rupees.
“Led by telecom sector market closed above 18,000 points mark with decent volumes. Wateen Telecom remained in limelight,” said Samar Iqbal, a trader at Topline Securities.
In the currency market, the rupee ended steady at 98.38/98.43 against the dollar.
Overnight rates in the money market remained flat at 9.40 percent.