Pakistan shares end higher; rupee stable

KARACHI: Pakistani stocks ended higher on Thursday, aided by gains in banking shares which rose on improved first-quarter results, dealers said.

The benchmark 100-share index at the Pakistan Stock Exchange closed up 0.68 percent at 34,503.64."Banking sector attracted investors on better first-quarter results.

Cement sector also continued to perform on the back of news regarding approval by the National Electric Power Regulatory Authority to reduce power tariff," said Imran Ali, head of research at Invest and Finance Securities Pvt Ltd.

Habib Bank Ltd gained 1.86 percent, United Bank Ltd rose 2.25 percent and MCB Bank climbed 0.90 percent.

The rupee ended at 104.80/104.84 against the dollar, compared with Wednesday´s close of 104.80/104.86.Overnight rates in the money market fell to 5.90 percent from Wednesday´s close of 6.20 percent.