InfoAnda - Pakistani stocks end up; rupee weakens; o/n rates flat

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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 Pakistani stocks end up; rupee weakens; o/n rates flat Reuters - Thursday, March 10 Send IM Story Print KARACHI, March 9 - Pakistani stocks ended more than 1.5 percent higher on Wednesday as investors bought fertilizer shares on lower prices and also on easing political concerns, dealers said. The Muttahida Quami Movement , a key ally of the ruling Pakistan People's Party of President Asif Ali Zardari, has accused the Sindh province's home minister - a member of the PPP -- of associating with criminals, raising concerns over political stability. The PPP has denied the accusations and on Tuesday, Zardari assured an MQM delegation that, "its reservation with particular reference to the recent events that had created tension between the coalition partners, will be addressed", according to Pakistani media reports. "Bullish activity was witnessed across the board led by the fertilizer sector after government coalition partner MQM was assured by the President about their concerns," said Ahsan Mehanti, director at Arif Habib Investments Ltd. The Karachi Stock Exchange's benchmark 100-share index ended 1.58 percent, or 188.14 points, higher at 12,128.15. Turnover rose to 100.41 million shares, compared with only 54.21 million shares traded on Tuesday. The rupee weakened on Wednesday amid high dollar demand from importers because of rising international oil prices. The rupee ended at 85.30/40 to the dollar, down from Tuesday's close 85.08/12. In the money market, overnight rates were almost flat at 13.00 percent, compared with the previous day's close of between at 12.5-13.0 percent. Send IM Story Print Related Articles NZ dollar dips as RBNZ cuts by 50bps, Aussie steady Reuters - 34 minutes ago BRIC countries gain more billionaires -Forbes Reuters - 37 minutes ago US-BUSINESS Summary Reuters - 41 minutes ago SEC says its accounting problems stem from technology Reuters - 41 minutes ago GE Hitachi nuclear reactor wins US design approval Reuters - 43 minutes ago News Search Top Stories Veteran US shuttle ends historic spaceflight career Wall Street tycoon driven by greed: prosecutors Egypt government warns of 'counter-revolution' Insurer Prudential eyes Asian growth after doubling profits Libya: live report More Top Stories » ADVERTISEMENT Most Popular Most Viewed Mass fish death in California harbor Lack of sleep can make you overly optimistic: study NASA scientists in row over 'alien microbes' Spider-Man comic sells for $1.1 mln Cathay Pacific orders 27 Airbus and Boeing planes 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

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