Forum Views () 
Forum Replies ()  
 
 
Read more with google mobile :
Pakistani stocks end slighly higher; rupee weakens  
 
 
 
 
 
Yahoo!
My Yahoo!
Mail
More Yahoo! Services
Account Options
New User? Sign Up
Sign In
Help
Yahoo! Search
web search
  
 
  
 
 
 
 
 
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Weekend Edition
 
 
 
Singapore
Asia Pacific
World
 
 
 
  
  
 
 
 
 
 
 
 
 
Pakistani stocks end slighly higher; rupee weakens
 
 
  
 
 Reuters - Tuesday, March  1
 
 
Send
 
IM Story
 
Print
 
 
 
 
 
 
 
KARACHI, Feb 28 - Pakistani stocks recovered slightly on Monday after falling to a near three-month low the previous trading session, although investors remained cautious about U.S-Pakistan relations, dealers said.
 
The Karachi Stock Exchange's benchmark 100-share index ended 0.59 percent, or 65.70 points, higher at 11,289.22, recovering from its lowest close since Dec. 1, on turnover of 86.23 million shares.
 
"Investors accumulated shares in an oversold market, however investors are still cautious on concerns for Pakistan and U.S ties on the unresolved Raymond Davis case," said Ahsan Mehanti, director at Arif Habib Investments Ltd.
 
Davis, a CIA contractor, is being held in prison after shooting dead two Pakistanis in the city of Lahore last month in what he said was an attempted robbery.
 
The United States says Davis is protected by diplomatic immunity, while Pakistan says the courts must decide. The case has inflamed anti-American sentiment in Pakistan.
 
Dealers said investors also feared foreign selling due to the global sell-off in equity markets following the crisis in Libya.
 
The Karachi Stock Exchange has a small market capitalisation and the selling of only $2 million to $3 million amid a lack of buyers could spark a sell off or large percentage swing, analysts said. Dealers said there was also political uncertainty regarding a possible increase in local fuel prices expected to be announced later in the day.
 
Pakistan's government bowed to political pressure last month and reversed a decision to increase fuel prices, a move likely to further widen the country's budget deficit. It has kept the fuel prices unchanged since November 2010.
 
Meanwhile, the rupee ended weaker at 85.67/71 to the dollar, compared with Friday's close of 85.55/60 because of rising international oil prices. Dealers expect pressure to continue on the local unit.
 
In the money market, overnight rates ended lower at between 12.50 percent and 13 percent, compared with Saturday's close of 13.25 percent amid increased liquidity in the interbank market. (For more Reuters coverage of Pakistan, see: http://www.reuters.com/places/pakistan) (If you have a query or comment about this story, send an e-mail to news.feedback.asia@thomsonreuters.com) (E-mail: sahar.ahmed@thomsonreuters.com; Reuters Messaging: sahar.ahmed@thomsonreuters.com; Karachi newsroom: +92-21 3568 5192)
 
 
 
 
   
 
 
 
 
 
 
Recommend
 
 
 
 
 
 
 
Send
 
IM Story
 
Print
 
 
 
 
 
 
Related Articles
 
 
Russia to global carmakers: Beef up local presence Reuters -  35 minutes ago
 
Mattamy, Meritage also bid for Taylor Wimpey-sources Reuters -  36 minutes ago
 
Instant view: Pending home sales fall in January Reuters -  38 minutes ago
 
US-BUSINESS Summary Reuters -  41 minutes ago
 
PSA, BMW invest 100 million euros in hybrid JV Reuters -  41 minutes ago
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
News Search
 
 
 
 
 
 
 
 
 
Top Stories
 
 
 
 
Libya live report
US consumer spending crawls in January
Eurozone inflation hits 2.3%, lower than estimated
EU seeks to bridge divide over competitivity pact
Brazil's TAM orders 32 A320 planes: Airbus
 
 
 
 More Top Stories »
 
 
 
ADVERTISEMENT
 
 
 
  
 
 
 
 
Most Popular
 
 
 
 
Most Viewed
 
 
 
 
'Runaway millionaire' arrested in NZ: police
 
'I wanted to die', says quake penknife amputee
 
Oscars Live Report
 
Russia could 'lose $4 bn' in Libya arms deals
 
World tells Kadhafi to quit
 
 
 More Most Viewed »
 
 
 
 
 
 
 More Most Recommended »
 
 
 
 
 
 
 
  
 
 
 
 
Elsewhere on Yahoo!
 
 
 
 
Financial news on Yahoo! Finance
 
 
Stars and latest movies
 
 
Best travel destinations
 
 
 
 
 
  
 
 
 
 
 
 
More on Yahoo! News
 
 
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Weekend Edition
Subscribe to our news feeds
Top StoriesMy Yahoo!RSS
» More news feeds | What are news feeds?
 
Also on Yahoo!
 
Answers
Groups
Mail
Messenger
Mobile
Travel
Finance
Movies
Sports
Games
» All Yahoo! Services
 
Site Highlights
 
Singapore
Full Coverage
Most Popular
Entertainment
Photos
Yahoo! News Network 
 
 
 
 Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Terms of Service |
Privacy Policy |
Community |
Intellectual Property Rights Policy |
Help
 
 
    
  
   
 
 
    
   
 
Other News on Monday, 28 February 2011 Saudi king orders more state jobs and faces reforms calls  
Russia could 'lose $4 bn' in Libya arms deals  
French foreign minister to resign on Sunday: minister  
Afghan probe accuses NATO of killing 65 civilians  
World tells Kadhafi to quit  
Lebanese protest against sectarian political system  
Sudan clamps down on election protest
|  
Afghan gov't: NATO op killed 65 civilians  
Egypt's Moussa indicates will run for president
|  
Iraq PM sets government 100 day deadline after protests
|  
Taliban say they have Canadian missing in Afghanistan
|  
Hollywood ready for Oscars coronation  
India to unveil budget as inflation and state elections weigh  
Blast kills Gaza militant, two wounded: medics
|  
US-ENTERTAINMENT Summary  
Hollywood shines up for the Oscars  
"Gnomeo & Juliet" climbs to top of box office  
NZ quake city prays for miracles amid rubble, toll 146  
China plans sweeping economic change  
China lowers its economic growth target a tad  
More South Koreans flee Libya on chartered plane  
US-ENTERTAINMENT Summary  
Indonesian celebrity apologizes for illegal drugs use  
Sen. Schumer calls for increased public WiFi security
|  
Hollywood shines up for the Oscars  
Top Chinese negotiator visits Taiwan  
"Gnomeo & Juliet" climbs to top of box office  
Great wall of Viet Nam  
Dolce&Gabbana bring sensual curves to Milan  
Filipino workers could lose $336M a year if Taiwan implements working visa freeze  
Freight train derails in Washington state  
Sick traveler raises fear of US measles spread  
Diabetic couple survives four days stuck in car under snow  
Nationwide sweep aimed at Mexican drug cartel activities in US  
UN Security Council slaps sanctions on Libya, refers Qadhafi to ICC  
Ban calls leaders of Saudi Arabia, Italy on Libya  
Hollywood shines up for the Oscars
|  
New Market Poultry Recalls Whole Chicken Products That May Be Tainted  
First Ever Hide 'n Seek Benefit For Chicago Children's Museum On Saturday, Feb. 26  
Gnomeo & Juliet climbs to top of box office
|  
Elizabeth Taylor spends 79th birthday in hospital
|  
'I wanted to die', says quake penknife amputee  
Libya arms embargo halts boom for defence contractors  
US-TECH Summary  
Gaddafi unflinching as rebel city fears counter-attack
|  
India's economy grew 8.2% in last 2010 quarter  
Scandal-hit French foreign minister resigns  
Quake hits southern Chile, a year after huge one
|  
Japan factory output up, oil rise spells risk  
Motorola sues TiVo over DVR technology  
Oscars Live Report  
Six killed in Oman protests on Sunday: government hospital
|  
Sen. Schumer calls for increased public WiFi security  
NZ buildings' quake safety questioned as burials start
|  
Luxury dazzles, China beckons at the Geneva motor show  
Libya exodus 'emergency' as Asian workers land in Malta  
Thailand says still investigating who killed  
US-TECH Summary  
Iran cautions against oil output hike  
US, S. Korea launch war games amid N. Korea threat  
The whimsy and menace of Moamer Kadhafi  
Mired in scandal, Berlusconi faces tax fraud trial
|  
Bahraini Shi'ite leader hints he could accept king
|  
New Zealand buildings' quake safety questioned  
Motorola sues TiVo over DVR technology  
'The Cove' DVD given to Japan dolphin-killing town  
SKorea, US begin annual drills amid NKorea threat  
Infant boy the first NZ quake victim laid to rest  
Oscars fashion: Bonham Carter in normal dress shock  
Factbox: Complete list of Oscar winners  
China uses whistles, water, police on protests  
Young Oscar hosts highlight Hollywood generation gap  
Motorola sues TiVo over DVR technology
|  
High tech, medieval weaponry combine in trebuchet competition
|  
'King's Speech,' 'Social Network' vie for Oscars gold  
US-ENTERTAINMENT Summary  
Hollywood's women wear red and sparkle to Oscars  
Hollywood's A-list lights up Oscar red carpet  
'Gnomeo & Juliet' speeds to box office glory  
BRIEF-Moody's confirms Hana Bank and Korea Exchange Bank  
Oscars fashion: Bonham Carter in normal dress shock  
Seoul shares fall 1.2 pct on LG Elec, airlines  
"True Grit," Golden Globes lead Oscar losers  
NZ to increase debt after quake  
Azerbaijan fears neighbour Iran's radical influence  
Pakistan  
Financial meltdown documentary wins Oscar  
Two NZ earthquakes to cost NZ$20 bllion  
Natalie Portman leaps to Oscar for "Black Swan"  
NZ business confidence recovers before earthquake  
Oscars Live Report  
Seoul shares fall 1.2 pct on LG Elec, airlines  
"Toy Story 3" wins Oscar for animated feature  
Seoul shares open down as autos, shipyards weigh  
"The King's Speech" wins best film Oscar  
S.Korean large firms' confidence rises  
China used less energy per unit of GDP in 2010  
China campaigners plan new rallies after clampdown  
High tech, medieval weaponry combine in trebuchet competition  
King's Speech crowned big winner at Oscars
|  
Colin Firth adds first Oscar to awards haul
|  
World's biggest IT fair shoots for the clouds  
King's Speech wins best picture Oscar
|  
Natalie Portman leaps to Oscar for Black Swan
|  
'DJ Kadhafi' takes Internet by storm  
Tom Hooper wins director Oscar for King's Speech
|  
Christian Bale wins Oscar for The Fighter
|  
Melissa Leo wins first Oscar for The Fighter
|  
World-shaping minds inspired at TED gathering  
True Grit, Golden Globes lead Oscar losers
|  
Toy Story 3 wins Oscar for animated feature
|  
Financial meltdown documentary wins Oscar
|  
Clashes kill 10 in Sudan's Abyei flashpoint  
NATO: 3 service members killed in Afghanistan  
Japan's Asahi to focus on e-readers  
Explosion kills 8 Afghans in south  
Special Report: U.S. cables detail Saudi royal welfare program
|  
Brazil's TAM orders 32 A320 planes: Airbus  
Smartphone app revives flagging S. Korean custom  
US repositions troops in eastern Afghanistan  
India increases social spending in pro-poor budget  
Ireland parties talk coalition, seek bailout changes
|  
Libya live report  
Blast kills Gaza militant, two wounded  
Hope as rare rhino calves filmed in Indonesia  
Iraq PM sets 100 day deadline for gov after protests  
Egypt bans Mubarak, family from travel: prosecution
|  
Egypt stock market to reopen on Tuesday  
Saudi activists eye protests, wait for new cabinet
|  
Higher education, lower blood pressure: study  
India budget targets farms and social spending  
Iranian opposition leaders moved from house arrest  
Bahraini protesters move to parliament building
|  
Hyundai, Kia form partnership with Vodafone for automobile IT  
Thousands of Yemenis protest, unrest high in south
|  
HSBC 2010 net profit more than doubles to $13.16 bln  
Gaddafi's nurse back in Ukraine, dodges press
|  
Poverty forces Indonesian parents to keep autistic child on a leash  
China campaigners plan new rallies after clampdown  
Indian budget ups social spending by 17%  
Indonesia's rights groups condemn local bans on Ahmadiyah  
Malaysia's Maxis posts fourth quarters profits  
Sen. Schumer calls for increased public WiFi security
|  
JPMorgan says tablets to grow into $35 billion market by 2012
|  
JPMorgan fund in talks to buy Twitter stake: report
|  
AirAsia X buys three more A330s, IPO on track  
Pakistani stocks end slighly higher; rupee weakens  
Oscar king Colin Firth says time to turn to comedy  
German celebrity opossum misses one Oscar pick  
Malaysia charges second ex-minister over scandal  
Pakistan's 6-month budget deficit at 2.9 pct of GDP  
Game fans snap up Nintendo's 3DS at Japan launch
|  
'Youth-friendly' Oscars show gets thumbs down  
S.Korea fin min denies pursuing cheap won policy  
Chinese barbers hope for brisk business on 'haircut' day  
Athens top city for online flirting-dating website
|  
Haiti's carnival king drums up presidential support  
China's middle class stampede for luxury handbags  
Thai opposition party files censure motion against PM, ministers  
Businesses face uncertain future after NZ quake  
Colin Firth adds first Oscar to awards haul  
5,000 Thais heading to Italy from Libya Monday  
Discount service Groupon launches China site  
Oscar king Colin Firth says time to turn to comedy
|  
German celebrity opossum misses one Oscar pick
|  
German tech sector bullish before giant IT fair  
Greece at new risk of being pushed off euro  
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found  
Female Breasts Are Bigger Than Ever  
AMD Trinity Accelerated Processing Units Now in Volume Production  
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time  
AMD to Start Production of piledriver  
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs  
Islamists Protest Lady Gaga's Concert in Indonesia  
Japan Successfully Broadcasts an 8K Signal Over the Air  
ECB boosts loans to 1 trillion Euro to stop credit crunch  
Egypt : Mohammed Morsi won with 52 percent  
What do you call 100,000 Frenchmen with their hands up  
AMD Launches AMD Embedded R-Series APU Platform  
Fed Should not Ignore Emerging Market Crisis  
Fed casts shadow over India, emerging markets  
Why are Chinese tourists so rude? A few insights