KARACHI – Pakistani stocks ended higher on Tuesday but on thin trade as investors remained idle absent any positive triggers.
The Karachi Stock Exchange’s benchmark 100-share index ended 0.24 percent, or 28.09 points, up at 11,901.37 on turnover of 74.12 million shares.
“Market was categorised by low volume as there are no positive triggers and the result season will start in about two weeks,” said Khalid Iqbal Siddiqui, director at Invest and Finance Securities Ltd.
Corporate results for the quarter ended March 31 are due to be announced in the coming weeks,
In the currency market, the rupee firmed against the dollar despite rising international oil prices as dealers said the local unit was supported by higher remittances from overseas Pakistanis.
The rupee closed at 85.25/30 to the dollar, compared with Monday’s close of 85.30/35.
In the money market, overnight rates fell to 13.50 percent, compared with the previous day’s close of 13.90 but dealers said they were waiting for the treasury bill auction scheduled for Wednesday in which they expect the cut-off yields to rise.
