Pakistan stocks close higher

KARACHI: Pakistani stocks closed higher, driven by optimism over quarterly results, traders said.
The Karachi Stock Exchange’s (KSE) .KSE benchmark 100-share index ended 0.32 percent, or 60.55 points, higher at 18,713.61 points.
“The market closed above (the) 18,700 points mark on optimism about healthy March quarter results,” said Samar Iqbal, a trader at Topline Securities.
“Renewed buying interest was seen in Engro Corp. amid hopes of additional gas supply. While cherry picking was also witnessed in telecom and cement stocks.”
Engro Corporation Ltd. rose 4.15 percent to 141.95 rupees while Wateen Telecom Ltd. was up 2.53 percent to 4.46 rupees.
In the currency market, the rupee ended at 98.35/98.40 against the dollar, stronger than Monday’s close of 98.37/98.42. Overnight rates in the money market were flat at 9.40 percent.