KSE 100-Index gains 26 points

KARACHI: The price of local equities at Karachi Stock Exchange (KSE) closed higher on Wednesday after a relatively quiet trading session.

The Karachi Stock Exchange's (KSE) benchmark100-share index ended 0.21 percent, or 35.40 points, higher at 16,927.34.

Most of the trading took place in power and fertilizer stocks but investors remained concerned about violence in Karachi, said a stock dealer.

Stocks that ended positively included P.I.A., which rose 33.44 percent, or one rupee, to 3.99 per share and Fauji Bin Qasim, which was up 0.52 percent, or 0.20 rupees, to 38.70 per share.

Stocks that fell included TRG Pakistan, down 0.81percent to 6.13 per share, and Maple Leaf Cement, which fell 1.62 percent to 14.55 per share.

In the currency market, the Pakistani rupee ended at 97.31/97.36 against the dollar, compared to Monday's close of 97.48/97.55. The market was closed Tuesday for a national holiday.

Overnight rates in the money market ended at 9 percent compared to Monday's close of 9.40 percent. (Reuters)