Karachi stocks vault on strong earning results, Engro

KARACHI: Pakistani stocks closed higher on Tuesday, following better results announcements from companies and renewed buying interest in Engro Corporation stocks.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.22 percent, or 41.74 points, higher at 18,647.29 points.

United Bank Ltd and Pakistan State Oil were among the companies that announced strong results. Engro Corporation Ltd rose 4.91 percent to 136.99 rupees.

In the currency market, the rupee ended weaker at 98.36/98.42 against the dollar compared to Monday's close of 98.32/98.37.

Overnight rates in the money market remained flat at 9.50 percent.(Reuters)