InfoAnda - Pakistani stocks end up; rupee firms; 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 Singapore Asia Pacific World Pakistani stocks end up; rupee firms; o/n rates flat Reuters - Tuesday, May 11 Send IM Story Print KARACHI, May 10 - Pakistani stocks ended higher on Monday after falling almost 2.7 percent the previous trading session, on hopes the International Monetary Fund would soon approve a fifth tranche of a loan for Pakistan. The Karachi Stock Exchange's benchmark 100-share index <.KSE> rose 0.16 percent, or 16.67 points, to 10,288.14 on turnover of 72.36 million shares. "Investors are eyeing the IMF board meeting which is towards the end of this week and hoping it approves the fifth tranche," said Asad Iqbal, chief investment officer at Faysal Asset Management Ltd. The IMF's board is scheduled to meet on Friday to consider the next tranche of Pakistan's $11.3 billion loan. The IMF's board had originally been scheduled to meet at the end of March to approve the next portion, of about $1.15 billion, of the emergency package, which was first agreed in November 2008. In the currency market, the rupee <PKR=> firmed to 84.14/19 to the dollar compared with Friday's close of 84.28/33 because of fewer import payments and also because exporters sold dollars. In the money market, overnight call rates were flat at 10 percent despite the central bank selling 7.5 billion rupees worth of treasury bills. [SBPK10] Dealers said rates were likely to be on the lower side because of increased liquidity in the interbank market. (Reporting by Sahar Ahmed; Editing by Robert Birsel (For more Reuters coverage of Afghanistan and Pakistan, see: http://www.reuters.com/news/globalcoverage/afghanistanpakistan) Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 27 minutes ago McDonald's April same-store sales up Reuters - 27 minutes ago Nakheel to repay May bond on time - bondholder Reuters - 31 minutes ago "Shock and awe" euro rescue lifts global markets Reuters - 32 minutes ago BP says oil spill costs $350 million so far, shares hit Reuters - 41 minutes ago News Search Top Stories Jazz singer Lena Horne dies aged 92 UN fears 'irreversible' damage to natural environment World stocks, euro soar on major EU bailout BP, US govt search for new fix to oil spill EU's trillion dollar package sends markets soaring More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended BP dealt setback in oil containment bid EU agrees bumper eurozone aid deal: diplomat EU in monster eurozone aid deal, euro surges Britain cannot support EU stability fund: Darling Euro up as Europe races to fix monster bailout More Most Viewed » Aliens may exist but contact would hurt: Hawking Lack of sleep linked to early death: study Freddie Mac asks for fresh 10.6 billion dollar bailout French driving veil row escalates Airlines want compensation as Europe's skies reopen 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 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 Asia Entertainment Photos World Cup 2010 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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