KARACHI: Pakistani stocks ended higher on Monday, led by the fertiliser sector on hopes of strong profits, but trade was thin over concerns over the country's deteriorating macroeconomic indicators, dealers said.
The Karachi Stock Exchange's benchmark 100-share index .KSE ended 0.43 percent, or 51.56 points, higher at 11,909.73.
The Karachi Stock Exchange's benchmark 100-share index .KSE ended 0.43 percent, or 51.56 points, higher at 11,909.73.
Volume was 85.15 million shares, a one-month low.
"Healthy earnings and better payout expectations brought the fertiliser sector into the limelight," said Samar Iqbal, a dealer at Topline Securities Ltd.
Corporate results for quarter ending Dec. 30 are due to be announced in the coming weeks.
However, dealers said investors were still cautious due to the delay of the IMF's next tranche.
Pakistan formally asked for a nine-month extension of its $11 billion IMF bailout package, a source involved with the IMF talks said last week, but the extension has not been approved yet.
In the currency market, the rupee PKR= ended firmer at 85.79/85 to the dollar, compared with Friday's close of 85.86/91 to the dollar amid lack of import payments but dealers said the local unit could come under pressure because of an increase in international oil prices.
In the money market, overnight rates ended at 13.90 percent, compared with Friday's close of between 13 percent and 13.50 percent because of tight liquidity in the market as there were scheduled outflows amounting to 6.2 billion rupees ($72.2 million).
"Healthy earnings and better payout expectations brought the fertiliser sector into the limelight," said Samar Iqbal, a dealer at Topline Securities Ltd.
Corporate results for quarter ending Dec. 30 are due to be announced in the coming weeks.
However, dealers said investors were still cautious due to the delay of the IMF's next tranche.
Pakistan formally asked for a nine-month extension of its $11 billion IMF bailout package, a source involved with the IMF talks said last week, but the extension has not been approved yet.
In the currency market, the rupee PKR= ended firmer at 85.79/85 to the dollar, compared with Friday's close of 85.86/91 to the dollar amid lack of import payments but dealers said the local unit could come under pressure because of an increase in international oil prices.
In the money market, overnight rates ended at 13.90 percent, compared with Friday's close of between 13 percent and 13.50 percent because of tight liquidity in the market as there were scheduled outflows amounting to 6.2 billion rupees ($72.2 million).
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