Pakistani stocks end lower; rupee rates weaker
KARACHI: Pakistani stocks ended lower as investor activity was not significantly affected by major corporations announcing their profits and losses.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.09 per cent, or 13.76 points, lower at 15,240.19, on total volume of 208.11 million shares.
“Pakistan stocks closed lower post major corporate earning announcements. Concerns for circular debt in the energy sector, slowdown in cement sector dispatches and uncertainty in global stocks and commodities on stimulus hopes affected the investor sentiments,” said Ahsan Mehanti at Arif Habib Corp.
In the currency market, the Pakistani rupee ended slightly weaker at 94.69/94.74 to the dollar, compared to Friday’s close of 94.65/94.70.
Overnight rates in the money market ended steady at 10.40 per cent.