Pakistani stocks rise ahead of historic polls

Pakistan's stocks closed on a high with the Karachi Stock Exchange registering a rise of 1.30 per cent on the eve of the country's historic general elections.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 1.30 per cent, or 254.81 points higher at 19,916.27 points, driven by a steady foreign buying in large cap stocks.

In the currency market, the Pakistani rupee ended steady at 98.37/98.42 against the US dollar. Overnight rates in the money market fell to 9 per cent from yesterday's close of 9.40 per cent.

The general elections tomorrow mark a historic milestone for Pakistan as one civilian government completes its term and prepares to hand off to another.