Pakistan stocks close higher, rupee weakens

KARACHI: Pakistan's stock market closed higher on Thursday, supported by Muslim Commercial Bank and Engro Corporation, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.51 percent, or 92.77 points, higher at 18,173.67.

Food and fertilizer company Engro Corporation rose 3.51 percent to 121 rupees, while Muslim Commercial Bank was up 5 percent to 235.41 rupees.

In the currency market, the rupee ended weaker, at 98.14/98.19 against the dollar, compared to Wednesday's close of 98.09/98.14.

Overnight rates in the money market remained flat at 9.40 percent.