Key Karachi stock index up 0.67%

KARACHI: Pakistan’s main stock exchange closed higher, with the benchmark 100-share index of the Karachi Stock Exchange rising 0.67 percent, or 153.33 points, to 22,992.17.
Mainly supported by the cement sector, the market continued its rally, with investor sentiment boosted by hopes of no interest rate change in the upcoming monetary policy and an upsurge in regional markets.
An expected increase in cement bag prices has brought renewed buying interest in cement stocks, dealers said.
D.G. Khan Cement Co. Ltd. rose 4.16 percent to 80.80 rupees while Lucky Cement Ltd. was up 5 percent to 255.84 rupees.
The rupee ended weaker at 104.75/104.82 against the dollar compared to Monday’s close of 104.66/104.76.
Overnight rates in the money market remained flat at 6.50 percent.