KARACHI: Karachi stocks ended higher on Wednesday as investors accumulated shares in anticipation of the launch of a margin trading system (MTS) in the coming days, dealers said.
The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.78 percent, or 90.73 points, higher at 11,699.16.
Turnover fell to 143.3 million shares, compared with 153 million shares traded on Tuesday.
"Bullish sentiment continued to prevail at the KSE amid better corporate earnings and the expected launching of the MTS," said Mohammed Sohail, chief executive of Topline Securities Ltd.
The National Bank of Pakistan announced on March 1, a full year net profit for 2010 of Rs 17.56 billion ($205 million), and a cash dividend of 7.5 rupees per share. The NBP ended 4.99 percent higher at Rs75.16.
In the currency market, the rupee ended at 85.54/59 to the dollar, strengthening from Tuesday's close of 85.67/71, but dealers expect pressure on the local unit because of rising international oil prices.
In the money market, overnight rates ended almost flat at between 12.60 percent and 12.90 percent, compared with the previous day's close of between 12.50 percent and 13 percent and dealers expect rates to be on the higher side in the coming days.
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