Pakistani stocks end lower as investors book profits
KARACHI: Pakistani stocks ended lower on Wednesday as investors booked profits after recent gains, traders said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.55 per cent, or 83.17 points, lower at 15,151.31, on volume of 13.49 million shares.
“After a gain of 200 points in the last 2 trading sessions, investors opted to book profits,” said Samar Iqbal a dealer at Topline Securities.
Pakistan Telecommunications Company Limited was the biggest winner in terms of volume, closing at 16.45 rupees. In the currency market, the Pakistani rupee ended slightly higher at 94.70/94.76 to the dollar, compared to Tuesday’s close of 94.79/94.85.
Overnight rates in the money market ended steady at 7.50 per cent.