Pakistani stocks end lower; rupee firms
KARACHI: Pakistani stocks ended lower as investors booked profits after corporate earnings were announced.
The Karachi Stock Exchange (KSE) benchmark 100-share index closed at 0.69 per cent, or 104.86 points, lower at 15,188.53, on total volume of 181.29 million shares.
“Stocks ended lower because of post major corporate earning announcements. Investors preferred to book profits,” said Ahsan Mehanti, a dealer at Arif Habib Corp.
In the currency market, the Pakistani rupee ended slightly stronger at 94.62/94.67 to the dollar, compared to Wednesday’s close of 94.68/94.74.
Overnight rates in the money market ended steady at 10.40 per cent.