Stocks end slightly down; rupee strengthens
KARACHI: Pakistan’s main stock market ended slightly lower on Monday, pulled down by cement and fertiliser sectors reporting a drop in sales, dealers said.
The Karachi Stock Exchange benchmark 100-share index lost 2.66 points, or 0.02 per cent, to close at 14,673.77. The volume of shares traded was 33.72 million.
“Selling in cement and fertilizer stocks cooled down the index. Provisional sales data showed a drop for the sectors, prompting selling,” said Samar Iqbal, a dealer at Topline Securities.
In the currency market, the rupee strengthened to close at 94.12/19 to the dollar, compared to 94.50/56 on Friday.
Overnight rates in the money market closed at 11.90 per cent, the same level as Friday.