InfoAnda - Pakistan stocks slightly up in dull trade; rupee lower

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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 Pakistan stocks slightly up in dull trade; rupee lower Reuters - Saturday, November 27 Send IM Story Print KARACHI, Nov 26 - Pakistani stocks edged slightly higher on Friday but trade remained dull as investors maintained caution ahead of the monetary policy announcement due on Monday, dealers said. Most analysts expect the central bank to raise its key rate by 50 basis points to 14 percent. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a preview of rates meeting, click [ID:nSGE6AO093] For Q+A on policy, inflation, click [ID:nSGE6AO093] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> "The expected rise in the policy rate, coupled with the weekend consideration, dampened the sentiment and investors remained reluctant to participate aggressively in the market." said Mohammed Sohail, chief executive of brokers Topline Securities. The Karachi Stock Exchange's benchmark 100-share index <.KSE> ended 0.09 percent, or 9.68 points, higher at 11,145.02. However, turnover was low at only 84.18 million shares, down from 86.15 million shares a day earlier and 153.97 million shares traded on Wednesday. In the currency market, the rupee <PKR=> eased against the dollar to close at 85.75/80 per dollar, compared with Thursday's close of 85.62/66 amid strong demand for the U.S. currency from importers. "There is strong demand for the dollar at the moment which is likely to keep the rupee under pressure for now," said a dealer at a foreign bank. However, dealers said healthy dollar inflows, especially in the form of remittances from overseas Pakistanis, are expected to prevent a free fall in the rupee's value. In the money market, overnight rates rose to close at 13.20 percent from 10.50 percent a day earlier, after the central bank mopped up 25 billion rupees from the interbank market earlier in the day. <SBPK10> (For more Reuters coverage of Pakistan, see: http://www.reuters.com/places/pakistan) Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 35 minutes ago Kardashian Kard too 'kostly,' regulator says Reuters - 35 minutes ago Hedge fund FrontPoint hit by $3 billion in redemptions Reuters - 44 minutes ago Black Friday shoppers speak about their deals Reuters - 51 minutes ago Wall St Week Ahead: Euro bears jolt US bulls but jobs may help Reuters - 53 minutes ago News Search Top Stories Obama gets 12 stitches after 'elbow in the lip' Zapatero 'absolutely' rules out economic rescue for Spain Portugal fights eurozone contagion, adopts budget EU says not pressing Portugal to take bail out Spain, Portugal fight fear of Irish contagion More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended 600,000 die each year from passive smoking: study Wealthy Americans say: 'Tax us' to ease deficit' Europe bans baby bottles with Bisphenol-A US, S.Korea plan war games after N.Korean attack New AIDS cases fall by one fifth in a decade: UN More Most Viewed » 'Naked' airport scanners may be 'dangerous' EU fines 11 airlines 800 million euros for air cargo cartel Pilgrims stone 'devil' as Muslims celebrate Eid World leaders scramble for funds to save the tiger US, S.Korea plan war games after N.Korean attack 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 © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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