KARACHI: Pakistan’s stock market closed lower on Monday after companies booked profits, traders said.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.30 per cent, or 53.77 points, lower at 18,020.50.

“Profit taking was seen from selected counters above the key 18,000 points level,” said Samar Iqbal, a dealer at Topline Securities.

Engro Corporation rose 5.0 per cent to 113.83 rupees as news that the company had reached an agreement for gas supplies from the state-run Oil and Gas Development firm lifted the share price, dealers said.

DG Khan Cement fell 1.12 per cent to 62.00 rupees and

In the currency market, the rupee ended weaker at 98.15/98.20 against the dollar, compared to Friday's close of 98.06/98.12.

Overnight rates in the money market fell to 8.75 per cent from Thursday close of 9 percent.