KARACHI: Pakistani stocks closed lower on Monday, amid a fall in global equity markets. Commodity prices local bourse also dropped by one per cent.

Across the board selling pressure was seen where Engro Corporation closed 4.7 per cent down. Pakistan Telecommunication also closed at its lower cap after a disappointing March result announcement.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 1.01 per cent, or 189.78 points, lower at 18,524.50 points.

Engro Corporation Ltd fell 4.76 per cent to 133.90 rupees and Pakistan Telecommunication was down 4.99 per cent to 20.17 rupees.

In the currency market, the rupee ended weaker at 98.25/98.30 against the dollar compared to Friday’s close of 98.21/98.26.

Overnight rates in the money market remained flat at 9.40 per cent.