Pakistani stocks end lower; rupee strengthens; o/n rates flat

Written by Reuters | KARACHI | Updated: Feb 5 2014, 01:08am hrs
Pakistan's main stock exchange closed lower on Tuesday with the benchmark 100-share index of the Karachi Stock Exchange falling 0.72 percent, or 194.65 points, to 26,751.45.

Spillover effect of under pressure regional markets was seen at the local bourse slow down in participation.

Pakistan State Oil Co Ltd remained in the limelight on the back of potential deregulation of motor spirit (Petrol) prices.

Major pressure was seen index heavy weights like Oil and Gas Development Co Ltd, Pakistan Petroleum Ltd, Muslim Commercial Bank Ltd, amongst others, said Asad Siddiqui at Topline Securities.

Oil and Gas Development Co Ltd fell 0.46 percent to 273 rupees while Pakistan State Oil Company Ltd was up 0.9 percent to 348.69 rupees.

The rupee ended higher at 105.42/105.47 against the dollar compared to Monday's close of 105.52/105.57.

Overnight rates in the money market remained flat at 10.00 percent.