KARACHI: Karachi Stock Exchange (KSE) ended up on Monday as investors bought fertiliser stocks on expectations of strong corporate earnings, dealers said.
KSE benchmark 100-share index ended 0.26 percent, or 30.11 points, higher at 11,583.03.
Volume rose to 78.9 million shares, compared with 66.39 million shares traded on Friday.
"Fertiliser stocks remained in the limelight because of expectations of higher than expected earnings on the back of higher urea prices," said Samar Iqbal, a dealer at Topline Securities Ltd.
Fauji Bin Qasim, volume leader, ended 3.17 percent up at 41.30 rupees and Fauji Fertiliser rose 2.57 percent to 132.75 rupees.
In the currency market, the rupee weakened versus the dollar amid higher import payments, but dealers said the local unit is expected to be range-bound in coming days because of higher remittances from overseas Pakistanis.
The rupee closed at 85.31/36 to the dollar, compared with Friday's close of 84.95/85.05.
In the money market, overnight rates stayed unchanged at the top level of 13.90 percent in tight liquidity despite a reverse repo in which the central bank bought back 35 billion rupees ($412 million).
Dealers said rates are likely to remain at the top level as it was quarter end.
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