Pakistani stocks end lower; rupee weakens
KARACHI: Pakistani stocks ended lower on Monday in line with international markets, traders said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.50 per cent, or 77.12 points, lower at 15,375.52, on total volume of 85.78 million shares.
“There is some concern about the global economic slowdown. The fall in international markets could be the primary reason why stocks ended lower, amid fears of divestment by foreign investors,” said Ahsan Mehanti at Arif Habib Corp.
In the currency market, the Pakistani rupee ended slightly weaker at 94.51/94.57 to the dollar, compared to Thursday’s close of 94.46/94.51.
Overnight rates in the money market ended at 10 per cent compared to Friday’s close of 10.50 per cent.