KSE-100 plunges by over 200 points, rupee firms
KARACHI: Pakistani stocks closed lower on Thursday as traders expressed worry over the potential impact of a political demonstration planned in the capital next week.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 1.27 per cent, or 212.30 points, lower at 16,529.92.
Pakistan Telecommunication Corporation Ltd fell 3.37 per cent to 16.34 per share and Byco Petroleum was down 0.68 per cent to 13.24 per share.
Fauji Cement was up 1.25 per cent to 6.47 per share while Fauji Bin Qasim rose 0.28 per cent to 38.85 per share.
In the currency market, the Pakistani rupee strengthened, ending at 97.27/97.32 against the dollar, compared to Wednesday’s close of 97.30/97.35.
Overnight rates in the money market remained flat at 9.40 per cent.